Glossary

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[ E ]

Emerging Market: Any country with stock market capitalization of less than 3% of the Morgan Stanley Capital International World Index; low to middle income economy, as determined by the International Bank of Reconstruction and Development. Examples: Indonesia, Colombia, Peru, Philippines, South Africa, Thailand.

Equity Funds. A mutual fund with a portfolio consisting primarily of common stocks.

Excess Payment Amount. An amount withdrawn subject to withholding tax.

[ E ]

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