A process that creates a series of securities which is collaterised by assets mortgaged against loans, assets leased out, trade receivables, or assets sold on hire purchase basis or installment contracts on personal property.
A legally enforceable consolidation and offsetting of individual trades into net amounts of securities and money due between trading partners or among members of a clearing system. A netting of trades which is not legally enforceable is position netting.
A no- load fund is one that does not charge for entry or exit. It means the investors can enter the fund/ scheme at net asset value (NAV) and no additional charges are payable on purchase or sale of units.