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Glossary
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E

EMERGING MARKETS FUNDS
A fund that invests primarily in the stocks of companies in, or doing business in, developing countries and emerging markets. Emerging market funds usually have an investment objective of long-term growth and are generally considered aggressive stock funds.


ENERGY STOCK FUNDS
A fund that invests primarily in the stocks of companies in the energy business.


ENVIRONMENTAL SECURITIES FUNDS
A fund that invests primarily in securities issued by environmental-related companies. These include companies involved in hazardous waste treatment, waste recycling, and other related areas.


EQUITY INCOME FUNDS
A fund that seeks to provide relatively high current income and growth of income by investing a large portion of its assets in stocks.


ETHICAL FUND
A fund that only invests in the securities of firms meeting certain social standards. For example, an ethical fund might exclude securities of companies that are known to practice discrimination, that operate in certain countries, or that produce specific products such as alcohol, tobacco, or nuclear weapons.


EUROPEAN STOCK FUNDS
A fund that invests primarily in the stock of Western European companies.


EXCHANGE PRIVILEGE
A shareholder service that allows shareholders to move their assets from one fund to another fund within the same mutual fund family, usually without any additional sales charge or fees. Fund groups vary in the specific parameters detailing when or how many times an investor may use the exchange privileges.


EX-DIVIDEND DATE
The date on which a fund's net asset value will fall by an amount equal to a dividend or capital gains distribution. The ex-dividend date is usually the business day immediately following the record date.


EXPENSE
A fund's cost of doing business. All of a fund's expenses are disclosed in the prospectus as a percentage of assets.

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