| 释义 |
target fund Target FundA mutual fund that invests exclusively in bonds with maturities around a certain date. Once that date is reached, all proceeds are distributed to shareholders; the fund liquidates and ceases to exist. A target fund operates much like a unit investment trust (UIT) because both have final maturity dates; however, a target fund is actively managed, while a UIT is not.target fund A specialized self-liquidating mutual fund that invests in bonds maturing around a specific date. After the last maturity, the fund distributes its assets to the owners and ceases business. The limited life of the fund makes it much like a unit trust except that the portfolio is managed. An annual management fee is charged. |