Glossary

  1. Market-linked instruments - comprise market linked GICs and linked notes.
  2. Market-linked GICs - term deposits in which the return is linked in whole or in part to a domestic or foreign stock market index, or to a specified fund or hedge fund. The original term of these instruments is from two to five years.
  3. Mortgage-backed securities (MBSs) - are securitized notes that use a pool of residentialĀ mortgages as collateral. The income stream on these notes is based on the flow of interest and principal repaid by borrowers on the pool of mortgages. Most, but not all, mortgage-backed securities are backed by National Housing Act insured mortgages.
  4. Mass market - an asset segment that consists of households with less than $100,000 in financial wealth assets.
  5. Mid-market - an asset segment that consists of households with $100,000 to $499,999 in financial wealth assets.
  6. Middle income - an income segment that consists of households with $50,000 to $99,999 in household income.
  7. Mass market fund wraps (MMFW) - consist of funds of funds and packaged fund wraps that have been made accessible to investors for less than $25,000. They are generally geared to the lower/mass market segment of the managed assets market.