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Management fee

The annual charge levied on investment funds.

Maturity

When an investment or bond finishes, it comes to maturity.

Monetary Policy Committee (MPC)

A committee which is headed by the governor of the Bank of England. It meets once a month to discuss and vote on whether the Bank base rate should change.

Mortgage protection policy

A life insurance policy designed to pay off your mortgage if you were to die during the mortgage term.

Mutual funds

These are pooled funds for investment by a firm in the shares of other companies, in accordance with a stated set of objectives. Unlike investment trusts, mutual funds are open-end funds in which the investor may redeem his or her shares at any time at the prevailing market price.

Mutuality

Term used to describe an organisation owned by its members for their own benefits, such as a building society.

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