Mutual Funds Glossary

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Natural Resources Fund

A fund that invests primarily in securities of companies that own, process, transport, or market natural resources, which can include metals, minerals, and forest products.

Net Assets

The net worth of a fund.

Net Asset Value (NAV)

The current market worth of a mutual fund's share. A fund's net asset value is calculated daily by taking the funds total assets, securities, cash and any accrued earnings, deducting liabilities, and dividing the remainder by the number of shares outstanding.

No Load Fund>

A fund that sells its shares directly to investors without a sales charge.