Reader tools

Saved

Pages and instruments you star, kept in your browser. No account needed.

Free read-only JSON access to the site's cached data.

Dark mode

Guided View
New to markets: prices, yields, YTD, market cap? We explain every term as you browse, in plain English. Same data, with the help built in.

Expert View
You already know the market. Just the data: clean, fast and compact, with no extra explanations. This is the default view.

Interface language

Glossary

The vocabulary of substantial wealth: 8 terms, each with its own page: what it means, why it matters, and where it bites.

All Banking & Insurance Family & Governance Philanthropy Private Markets Public Markets Tax Trusts & Estate

bp bp Basis Point

One one-hundredth of one percentage point, commonly written as "bp" or "bps," used…

NAV NAV Net Asset Value

Net Asset Value (NAV) is the estimated total value of a fund's or portfolio's…

CEF CEF Closed-End Fund

A closed-end fund (CEF) is a pooled investment vehicle that raises a fixed amount…

CRT CRT Charitable Remainder Trust

A tax-exempt trust that pays income to the grantor or other named beneficiaries for…

VFO VFO Virtual Family Office

A virtual family office is a coordinated network of independent, outside…

MRI MRI Mission-Related Investment

A mission-related investment is a market-rate or near-market-rate investment made…

C1

Cy Pres A legal doctrine allowing courts (or sometimes trustees) to redirect charitable gifts or trust assets to a purpose as close as possible to the… Philanthropy

D1

Donor-Advised Fund DAF A charitable giving account held at a sponsoring organization that allows a donor to contribute assets now, receive an immediate tax deduction, and… Philanthropy

E1

Expenditure Responsibility The oversight regime under U.S. tax law requiring private foundations to monitor, control, and report on grants made to organizations that are not… Philanthropy

M2

Minimum Distribution (Foundations) The legal obligation requiring private foundations to distribute a minimum percentage of their assets annually for charitable purposes, as defined by… Philanthropy Mission-Related Investment MRI A mission-related investment is a market-rate or near-market-rate investment made from a foundation's endowment that is intentionally aligned with… Philanthropy

P2

Private Foundation A tax-exempt charitable organization established and controlled by a family or individual, funded by private contributions, and required by law to… Philanthropy Program-Related Investment PRI A program-related investment is a foundation's concessionary loan, equity stake, or guarantee made primarily to advance charitable purposes rather… Philanthropy

S1

Self-Dealing A category of transactions between a private foundation and its disqualified persons, typically insiders, that federal law prohibits or strictly… Philanthropy