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An investment whose earnings are not subject to state or federal tax until the investor assumes possession of them. Individual Retirment Accounts are common examples.
T-statistic (test statistic)
A statistical measure of confidence, it is calculated based on a sample and is the basis for accepting or rejecting a given hypothesis.
Measures the difference between the fund performance and that of the index.
Trailing 12-month Price to Earnings Ratio
The sum of a company's price-to-earnings. Calculated by taking the current stock price and dividing it by the current earnings per share for the past 12 months.
A legal, fiduciary relationship in which an individual or institution (the trustee) holds legal title to property with the responsibility for keeping or managing this property for the benefit of another person or beneficiary.
A legal document that establishes a trust and outlines the rules and guidelines affecting its management and disposition.
Property held in trust. This term originally applied only to money held in trust, but is frequently used when referring to all property held in trust.
The individual or institution with responsibility for management of property placed in trust for the benefit of another individual.