Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Numerical
M
Maintenance % Specifies the minimum percentage of equity that must be maintained, pursuant to SEC regulations, for the security in the particular position.
Maintenance And Replacement Fund Designed to provide security to the bond holder by ensuring that the mortgaged property would be maintained in good operating condition and that the old plants would be replaced.
Maintenance Call A Maintenance Call will originate when the Merrill Lynch Maintenance Requirement exceeds the equity in a margin account.
Maintenance Of Net Worth An issuer is required to maintain its net worth above a certain level, or the bonds will be required to begin redeeming at par.
Maintenance Requirement NYSE regulations and Merrill Lynch require a client to maintain a certain level of equity in his/her margin account to support a margin loan.
Managed Accounts The types of managed money accounts.
Managed Asset Short Allocations When managed asset has a negative allocation in one or more of its asset categories, the negative value will be reported in this new category of Managed Asset Short Allocations.
Managed Service The types of managed money accounts.
Management Indicates whether the account is managed within the ML Consults service, MFA service, Personal Investment Advisor Service, ML Investment Manager/Private Investor Service, or if it is Client Directed.
Management Fees The fee charged by a fund's investment advisor for managing the fund.
Manager Tenure The length of time the fund manager has been making investment decisions regarding the fund.
Managing Underwriter The leading underwriter of an offering that acts as an agent for the underwriting group. This underwriting group is formed for the sole purpose of issuing securities for an entity, such as a corporation.
Margin Account A margin account is a loan account. Margin is an extension of credit by Merrill Lynch using marginable securities as collateral that you deposited or purchased in the open market. Merrill Lynch's name for a margin account is the Margin Lending Program.
For more information about trading on margin, click here:
Merrill Lynch Online Margin Tutorial or Merrill Lynch Direct Margin Tutorial.
Margin Balance This balance represents either a debit balance, which is the amount of money owed to Merrill Lynch as a result of such transactions as trade commitments or Visa charges or a credit balance, which is the amount of money held in your account after all commitments or Visa charges have been paid in full. Please note: A credit balance may reflect proceeds from a short sale, where the proceeds of the short sale transaction appear as a credit balance on the "Balance Screen". You may still be required to deposit additional funds and/or marginable securities to cover a margin call that may exist. Please see the margin tutorial for more information on short sale transactions.
Margin Equity The net value of your portfolio in a margin account. It is derived by taking your Long Market Value (LMV) minus any Short Market Value (SMV) adding any Margin Credit Balance (CR) or subtracting any Margin Debit Balance (DR). Options are not included as part of your LMV or SMV for margin equity purposes. However, options are included in the Margin/Option Equity Calculation.
Money Account Balances are not included in this calculation.
Margin Interest MTD Specifies the dollar amount of interest charged for funds borrowed from ML accrued in the account from the last statement to COB on the previous day.
Margin Interest Rate Indicates the rate that is used to calculate margin interest for this account.
Margin Option Equity Represents the liquidating value of all the assets in a customer's margin account (including options as well as any other investment instruments such as stocks, corporate bonds etc.) and applying the results against any extension of credit. Money Account balances are not included in this calculation.
Margin Signal Indicates the presence of conditions that may impact the availability of funds or securities.
Margin Requirement (For Options) The amount an uncovered (naked) option seller (writer) is required to deposit and maintain to cover his or her daily position valuation and reasonably foreseeable intraday price changes. See Margin Tutorial Merrill Lynch Direct Margin Tutorial. Note: Options involve risk and are not suitable for all investors. Clients should understand thoroughly the risks and opportunities associated with trading options and should read the document entitled Characteristics and Risks of Standardized Options before engaging in any options transactions.
Marginable Equities

Equities held in your account that may be used as collateral for Merrill Lynch's Margin Lending Program.

Marginable Mutual Funds

Mutual funds held in your account that may be used as collateral for the Merrill Lynch Margin Lending Program.

Market (MKT) This is an order to buy or sell a stated amount of a security at the most advantageous price obtainable at the time the order is submitted.
Market

The Market, or Exchange, on which a security is traded.

Market Code Table:

A = Amex

N = NYSE

B = Boston

P = Pacific

X = Philadelphia

C = Cincinnati

M = Midwest

E = CBOE

O = NASDAQ NMS, NASDAQ Small Cap

Blank = OTC Bulletin Board, OTC Non-BB

8 = International Securities Exchange

Market Cap ($MM) Latest price of the stock multiplied by the number of shares outstanding, shown in millions.
Market Capitalization The value of a corporation based on the latest price of its common stock multiplied by the number of shares outstanding. Often displayed in $MM (millions of dollars).
Market Commentary Provides statistics, market summary and price movements on notable stocks.
Market Price The current price of a share of stock on the exchange on which the stock is traded.
Market Risk The risk associated with the movement of an investment's price. If the price generally fluctuates widely, there is a risk that the price may move up or down shortly before or after a sale or purchase.
Markets A feature that provides information for a selected security or mutual fund, including price change, volume, P/E, dividend, yields, and today's hi/low information, market summary, market commentary, and historical charts.
Market Value Current market price multiplied by the number of shares outstanding.
Market Value Adjustment An adjustment to the sub account value either positive, negative or zero based on the relationship of the current interest rate vs. the guaranteed interest rate (MVA rate at issue or renewal) and the time remaining in the Guarantee Period.
Maryland Municipal Debt Funds Fund that limits assets to those securities that are exempt from taxation in Maryland, (double tax-exempt) or city, (triple tax-exempt).
Massachusetts Intermediate Muni Debt Funds Fund invests at least 65% assets in municipal debt issues that are exempt from taxation in Massachusetts, with dollar-weighted average maturities of five to ten years.
Massachusetts Municipal Debt Funds Fund that limits assets to those securities that are exempt from taxation in Massachusetts, (double tax-exempt) or city, (triple tax-exempt).
Massachusetts Tax-Exempt Money Market Fd Fund invests in municipal obligations of Massachusetts state, (double tax-exempt) or city, (triple tax-exempt) with dollar-weighted average maturities of less than 90 days. Intend to keep a constant NAV.
Materials Cost Merrill Lynch offers orders of checkbook covers, deposit slips, and check registers free of charge.
Maturity The date on which the par/face value becomes due for payment by the issuer.
Maturity Date The date the guarantee period ends.
Maturity Structure The array of various maturities of the fixed-income investments in your portfolio.
Maturity Value The sub-account value on the maturity date.
Max Return The maximum annualized return of a written put option defined by [Premium/Market Price] x100. The annualized return is determined by multiplying the return by 12 and dividing it by the number months left to maturity (rounded up).
Note: Options involve risk and are not suitable for all investors. Clients should understand thoroughly the risks and opportunities associated with trading options and should read the document entitled Characteristics and Risks of Standardized Options before engaging in any options transactions.
Max Sales Chg/Max CDSC The highest initial (front-end) or deferred (back-end) sales charge, expressed in percentage terms. See Load Type.
Maximum Available Quantity The largest amount of principal quantity that can be purchased of a particular security.
Maximum CDSC The highest deferred sales charge, in percentage terms, which may be deducted from the amount received upon redemption of shares.
Maximum Loss Per Share The maximum loss that would be incurred after the Underlying Equity and Put Option were simultaneously purchased at Current Market Prices. It is defined by: [if positive, (Market Price - Strike Price) + (Option Premium - if positive, the Intrinsic Value)]
Note: Options involve risk and are not suitable for all investors. Clients should understand thoroughly the risks and opportunities associated with trading options and should read the document entitled Characteristics and Risks of Standardized Options before engaging in any options transactions.
Maximum Offering Price The highest price that may be charged for purchases of fund shares, including the maximum contingent deferred sales charge or the maximum front end sales charge, whichever is applicable.
Maximum Quantity The maximum number of bonds permitted for purchase, defined on the Merrill Lynch Direct site by par value.
Maximum Sales Charge The largest amount, in percentage terms, that may be deducted either from the amount invested (in the case of a front-end sales charge) or from the amount received upon redemption (in the case of a contingent deferred sales charge).
Maximum Trade Value

The largest amount that a client can trade against his/her account. This amount varies based on the account status below:

Restricted Cash Account: The Maximum Trade Value is equal to the cash and cash equivalents currently in the account plus/minus any pending activities. Sufficient Funds are required to be in the account prior to any new trade commitments.
Note: For opening orders involving Market orders, the Total Maximum Trade Value calculated will be multiplied by 95% for Restricted Cash Accounts. Therefore, the maximum trade value displayed on the Available Funds Screen will be decreased by 5% and will block orders that exceed this value.

Unrestricted Cash Account: The Maximum Trade Value is equal to the cash and cash equivalents plus the LMV times 2 minus the LMV plus/minus any pending activities.

Restricted Margin Account: Assuming there is no outstanding margin call, the Maximum Trade Value is equal to the lower of your SMA or FME plus cash and cash equivalents plus/minus any pending activities divided by the appropriate margin requirement of the specific product. If your SMA is lower than your FME, then the Regulation T requirement is used to calculate your maximum trade value. If the FME is lower than the SMA, then the maintenance requirement is used to calculate your maximum trade value.
Notes: If there is an existing margin call in the account, the greater of the Reg T call/maintenance call would be used in place of the SMA/FME in the above calculation.
For opening orders involving Market orders, the Total Maximum Trade calculated will be multiplied by 95% for Restricted Margin Accounts. Therefore, the maximum trade value displayed on the Available Funds Screen will be decreased by 5% and will block orders that exceed this value.

Unrestricted Margin Account: The Maximum Trade Value is based on your FME plus cash and cash equivalents plus/minus any pending activities divided by the maintenance requirement of the specific product.

Median Market Cap($M) A measure of the size of the companies in which a fund invests. A company's market capitalization is the total value of its outstanding shares, calculated by multiplying its share price by its number of outstanding shares. A fund's median market capitalization indicates that half of the companies in the fund have a market capitalization larger than this number, and half have a market capitalization that is smaller.
Medium Term Bond A debt instrument with a maturity of two to ten years.
Medium Term Note Debt securities issued by investment grade companies that have maturities of at least one year, but not more than 10 years. This is different from conventional bonds that can be offered continuously, without the costly, time-consuming process required for a formal underwriting of bonds.
Merchant The entity or business that is processing the Visa transaction.
Merchant Category A description that matches the merchant category shown on your year-end statement for CMA® Visa® Signature/Gold Transactions (as seen in Accounts CMA® Visa® Signature/Gold Delayed Debits).
Method of Payment Type of payment- Check, deposit to ML account, etc.
Michigan Municipal Debt Funds Fund that limits assets to those securities that are exempt from taxation in Michigan, (double tax-exempt) or city, (triple tax-exempt).
Michigan Tax-Exempt Money Market Funds Fund invests in municipal obligations of Michigan state (double tax-exempt) or city (triple tax-exempt) with dollar-weighted average maturities of less than 90 days. Intend to keep a constant NAV.
Mid-Cap Core Funds Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.
Mid-Cap Growth Funds Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.
Mid-Cap Value Funds Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.
Minimum Initial Investment The smallest amount that may be initially invested in a mutual fund. This amount varies from fund to fund. Note that after the initial investment, subsequent minimum investments may apply, which usually differs from the initial minimum investment. Account minimums may also apply.
Minimum Margin Equity Requirement For margin accounts that do not maintain short option positions the requirement is $2,000 for non-pattern day traders or $25,000 for pattern day traders.
Minimum Option Equity Call Merrill Lynch requires that you maintain an option true equity requirement of $2,000 plus 20% of your option short market value. If you incur a minimum option equity call, you are required to deposit funds or marginable securities by origin date plus 3 business days.
Minimum Option Equity Requirement

Merrill Lynch requires that your option equity should be equal to or greater than certain option strategies that are maintained in your account. The minimum option equity requirement is the greater of the following:

  • Covered Option Strategies
    Minimum option equity requirement is $2,000 plus 20% of your option short market value.
  • Writing Naked Broad-based Index Options
    (This Option strategy is not permitted in ML Direct Accounts)
    The writing of naked broad-based index options requires $50,000 minimum option equity. In addition, clients must also maintain a scale requirement for each naked contract or short straddle/combination position in conformity with the following:

    Scale:

    Number of ContractsRequirements Per Contract
    1-10$2,000
    11-100$5,000
    101-and over$10,000
  • Writing Naked Equity and Narrow-based Index Options
    (This Option strategy is not permitted in ML Direct Accounts)
    The writing of naked equity and narrow-based index options requires an initial base equity of $10,000, plus $1,000 for each naked or short-straddle combination.
  • Spread Option Positions
    (This Option strategy is not permitted in ML Direct Accounts)
    A $10,000 minimum option equity is required for option accounts that maintain spread option positions.
  • Writing Naked Foreign Currency Options
    (This Option strategy is not permitted in ML Direct Accounts)
    The writing of naked foreign currency options requires an initial base equity of $10,000, plus $2000 for each naked or short straddle combination.
  • Pattern Day Traders
    The minimum option equity requirement is $25,000.
Minimum Quantity The minimum number of bonds required for purchase, defined on the Merrill Lynch Direct site by par value.
Minnesota Municipal Debt Funds Fund that limits assets to those securities that are exempt from taxation in Minnesota, (double tax-exempt) or city, (triple tax-exempt).
Misc. Country/Region Funds Fund that invests assets in securities with primary trading markets outside of the United States.
Missouri Municipal Debt Funds Fund that limits assets to those securities that are exempt from taxation in Missouri, (double tax-exempt) or city, (triple tax-exempt).
Mkt Order Max Trade Value Market orders are restricted to 95% of the computed Maximum Trade Value to minimize the risk of an order execution in excess of this amount under volatile market conditions. Orders entered with a Limit price will be accepted up to the full Maximum Trade Value.
ML 1-5 YR TREASURY IX TR A subset of the Merrill Lynch Treasury Master Index. The maturity range on these securities is between 1 and 5 years.
ML 3 MO T-BILL IX TR The 3-month U.S. Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. Each month the index is rebalanced and the issue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3 months from the rebalancing date.
ML CORP MASTER INDEX TR Consists of fixed-rate, coupon-bearing bonds with an outstanding par greater than or equal to $25 million, a maturity range greater than or equal to one year and must be rated BBB/Baa3 and above. The index comprises numerous subindices representing industries, maturities and qualities.
ML GLOBAL BOND INDEX TR A broad based index consisting of fixed-rate, coupon-bearing bonds with an outstanding par greater than or equal to $25 million, a maturity range greater than or equal to one year. This index includes BBB and some bonds that are not rated by the major U.S. rating agencies.
ML GOV CORP MASTER IX TR Consists of fixed-rate, coupon-bearing bonds with an outstanding par greater than or equal to $25 million, a maturity range greater than or equal to one year and must be rated BBB/Baa3 and above. The index comprises numerous subindices representing industries, maturities and qualities.
ML GOVT MASTER INDEX TR Consists of bonds with an outstanding par which is greater than or equal to $25 million, a maturity range greater than or equal to one year and have fixed rate coupons greater than 4 1/4%. This index is a commonly used performance benchmark comprising all U.S. Treasury and agency securities.
ML Holdings The amount held in each asset class or sector in selected Merrill Lynch accounts.
ML MASTER MUNI IX TR A broad-based measure of the performance of the U.S. tax-exempt bond market. Consists of fixed-rate, coupon-bearing bonds with an original par greater than or equal to $50 million, a remaining term to maturity greater than or equal to one year, 5 years or less since original issue date and must be rated BBB/Baa3 and above.
ML MORTGAGE MASTER IX TR Consists of fixed-rate, coupon-bearing bonds that are comprised of generic pass-through securities which are composed of numerous mortgage pools with various maturities. The amount outstanding in each agency/type/coupon subdivision of the mortgage index must be greater than or equal to $200 million. CMOs are excluded to avoid double-counting.
ML Transfer In These are internal movements of security positions. Examples include security transfers between accounts, bulk transfers and retirement plan Roth conversions.
ML Transfer Out These are internal movements of security positions. Examples include security transfers between accounts, bulk transfers and retirement plan rollovers from a client's CMA account.
Model($) The dollar value that would be held in each asset class, sector or size & style category if the suggested allocation model were followed.
Model (%) The percentage of total assets that would be held in each asset class, sector or size & style category if the suggested allocation model were followed.
Modified Endowment Contract Modified Endowment Contract. A life insurance contract which fails the internal revenue code's "7-Pay test." Any distributions form a MEC are taxed as if the contract was an annuity.
Money Accounts The CMA®, CBA, Retirement Reserves or other Money Funds, or the Insured Savings Account (ISA account), Retirement Assets Savings Program or other bank deposit programs, as applicable. Money Account balances are not necessarily available funds needed for check/Visa/ATM withdrawal. Please check "Available Funds" for cash available.
Money Account Value

The aggregate value of all CMA, CBA, Retirement Reserves or other money funds, or Insured Savings Account (ISA account), Retirement Assets Savings Program or other bank deposit accounts held by you.

Money Funds Cash equivalent with near or immediate liquidity and low volatility and risk. The most common fund is a money market fund which typically seeks to maintain a net asset value of $1.
Money Market Instrument Funds Fund invests in high quality financial instruments rated in top two grades with dollar-weighted average maturities of less than 90 days. Seeks to maintain a constant NAV.
Money Market Securities Short-term debt securities, such as U.S. Treasury bills, certain certificates of deposit (CDs) and commercial paper, which can offer a high degree of liquidity and relative safety.
Month Expire Date on which an option and the right to exercise it cease to exist.
Note: Options involve risk and are not suitable for all investors. Clients should understand thoroughly the risks and opportunities associated with trading options and should read the document entitled Characteristics and Risks of Standardized Options before engaging in any options transactions.
Moody's A nationally recognized statistic rating organization that rates the quality of securities according to the credit worthiness of their issuers.
Moody's Rating A measure of the quality and safety of a bond, based on the issuer's financial condition. More specifically, an evaluation from Moody's Investor Services, Inc. rating service indicating the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments.
Morningstar Rating

The opinion rendered by Morningstar®, a 3rd-party mutual fund rating service. To view a full explanation of their rating criteria, please visit, www.morningstar.com.

Mortgage-backed Securities (MSBs) A type of asset-backed security that is secured by a mortgage or a pool of mortgages, must be grouped according to ratings of an accredited rating agency and typically make periodic payments that are similar to coupon payments.
Mortgage Bonds Bonds backed by claim on real property (real estate) owned by the issuer. Usually issued by large utilities.
Most Recent Capital Gain The amount of the most recent capital gain.
Most Recent Dividend

The amount of the last dividend that has been distributed to investors. Dividends are distributions of earnings to shareholders paid out of income. For mutual funds, a portion of a fund's net investment income distributed by the fund to its shareholders.

MSCI CANADA IX GD The Morgan Stanley Capital Canada Index replicates the industry composition of the stock exchange in Canada and, in addition, represents a sampling of large, medium, and small capitalization companies, taking into account the stocks' liquidity. Lipper tracks the MSCI indices in U.S.$.
MSCI CHINA DOM FR IX ID The Morgan Stanley Capital China Domestic Free Index replicates the industry composition of the domestic stock exchanges in Shanghai and Shenzhen; it only includes constituents as available to non-domestic investors. The index represents a sampling of large, medium, and small capitalization companies, taking into account the stocks' liquidity.
MSCI EAFE IX GD The Morgan Stanley Capital EAFE Index replicates the industry composition of the stock exchanges in the developed international markets excluding the U.S.: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Malaysia, Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, and the UK; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI EM IX GD The Morgan Stanley Capital Emerging Market Index measures performance for a universe of 28 emerging markets. The index is constructed using market capitalization weighting and a consistent 60% target market coverage. Designation as an emerging market is determined by a number of factors; the most important factor is a country's Gross Domestic Product Per Capita.
MSCI EM EUROPE The Morgan Stanley Capital Emerging Europe Index replicates the industry composition of the stock exchanges in Hungary, Poland, Portugal, Turkey, Greece and Czech Republic. The index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI EUROPE IX GD The Morgan Stanley Capital Europe Index replicates the industry composition of the stock exchanges in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Spain, Sweden, Switzerland, and the UK; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI EM LATIN AM IX GD The Morgan Stanley Capital Latin America Index replicates the industry composition of the stock exchanges in Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI JAPAN IX GD The Morgan Stanley Capital Japan Index replicates the industry composition of the stock exchange in Japan and, in addition, represents a sampling of large, medium, and small capitalization companies, taking into account the stocks' liquidity.
MSCI PAC-JAPAN IX GD The Morgan Stanley Capital Pacific ex-Japan Index replicates the industry composition of the stock exchanges in Australia, Hong Kong, Malaysia, New Zealand and Singapore; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI PACIFIC IX GD The Morgan Stanley Capital Pacific Index replicates the industry composition of the stock exchanges in Australia, Hong Kong, Japan, Malaysia, New Zealand and Singapore; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
MSCI WORLD IX GD The Morgan Stanley Capital World Index replicates the industry composition of the stock exchanges in Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Malaysia, Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, the UK, and the U.S.; in addition, the index represents a sampling of large, medium, and small capitalization companies from each market, taking into account the stocks' liquidity.
Moving Averages The average of a security prices constructed on a period as short as a few days or as long as several years and showing trends for the latest interval.
Multi-Cap Core Funds Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap equity funds universe average.
Multi-Cap Growth Funds Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap equity funds universe average.
Multi-Cap Value Funds Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap funds universe average.
Multi-Sector Income Funds Fund seeks current income by allocating assets among different fixed income securities sectors, (no > 65% in one sector except for defensive purposes), including U.S. & foreign governments with a significant portion rated below investment grade.
Multiples After the minimum quantity is reached, the number of bonds that can be traded.
Municipal Bonds Fixed-income securities issued by a municipality whose interest, depending on place of residence, may be exempt from state and local taxes.
Municipal Bonds (Revenue)

A class of municipal bonds issued to finance a public project that is funded by the receipts of that project's operation.

Municipal Note Short-term municipal bond with a maturity of one year or less.
Municipal Revenue Bond Bond issued by a municipality to finance a specific public works project and supported by the revenues of that project.
Mutual Fund A managed portfolio of stocks, bonds and/or cash investments. The fund is professionally managed in accordance with the stated investment objective of the fund.
Mutual Fund Advisor (MFA) Merrill Lynch's Mutual Fund Advisor program.
Mutual Fund Exchange To convert the value of shares held in one fund to purchase shares of the same class of another fund in the same fund family. See the prospectus of the fund for conditions and any cost related to an exchange.
My Financial Picturesm My Financial Picturesm is a free Web-based service that allows you to consolidate information from all your accounts, including those at other financial service providers.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Numerical