Reference

Glossary

Plain-language definitions for the regulatory and investment vocabulary that appears across the archive. Terms link to sources where a definition rests on a specific record.

1

12b-1 fee: A distribution and service fee paid from fund assets under Rule 12b-1. The fund's 2005 fee table listed this item at zero.

C

Custodian: A bank that holds a fund's securities and cash under a custody agreement. U.S. Bank, N.A. served the fund in this capacity.

D

Diversified fund: Under the 1940 Act, a fund that, as to at least 75% of its assets, limits each single issuer to at most 5% of assets and holds at most 10% of any issuer's voting securities. The fund described itself as diversified in its 2005 filing.

E

Expense cap (expense limitation agreement): A contractual commitment by an adviser to reimburse a fund for expenses above a stated percentage of net assets. In 2005 the fund's cap was tiered at 2.00%, 1.50% and 1.00% across asset bands.

F

Federal Register: The daily journal of the United States Government in which agency notices, including SEC notices of deregistration applications, are published.
Form N-1A: The SEC registration form used by open-end funds. It contains the prospectus (Part A), the statement of additional information (Part B) and other information and exhibits (Part C).; See also: Prospectus · Statement of additional information

I

Interested person: A director or other person with a defined relationship to a fund's adviser or underwriter under Section 2(a)(19) of the 1940 Act. Independent directors stand outside those relationships and provide oversight on behalf of shareholders.
Investment adviser: The firm that manages a fund's portfolio under an advisory agreement approved by the board and shareholders, compensated by a fee expressed as a percentage of average net assets.
Investment Company Act of 1940: The federal statute that governs mutual funds and other pooled investment vehicles in the United States. It requires registration with the SEC, imposes governance and disclosure obligations, and regulates the relationship between a fund and its adviser.; See also: Registered investment company · Section 8(f)

N

Net asset value (NAV): The per-share value of a fund, computed by dividing total assets less liabilities by shares outstanding. Final distributions in a reorganization are made at NAV.; See also: Open-end fund

O

Open-end fund: A fund that continuously offers new shares and stands ready to redeem outstanding shares at net asset value. Commonly called a mutual fund.; See also: Net asset value

P

Portfolio turnover: A measure of trading activity, computed as the lesser of purchases or sales divided by average net assets. Rates near or above 100% indicate that the portfolio is substantially replaced within a year.
Post-effective amendment: An amendment to a registration statement that is already effective, typically filed annually to update the prospectus. Form type 485APOS is filed for delayed effectiveness and 485BPOS for immediate or date-specified effectiveness under Rule 485.; See also: Form N-1A
Principal underwriter (distributor): The entity that offers a fund's shares to the public on a continuous basis. In 2005 the fund's adviser also served as principal underwriter; in 2019 the successor used Quasar Distributors, LLC.
Prospectus: The disclosure document offered to investors describing a fund's objectives, strategies, risks, fees, performance and management.

R

Registered investment company: A company that has registered with the SEC under the Investment Company Act of 1940. The Wall Street Fund, Inc. was registered under File No. 811-00515.; See also: Investment Company Act of 1940 · Open-end fund
Reorganization: A transaction in which one fund transfers its assets and liabilities to another in exchange for shares, which are then distributed to the transferring fund's shareholders. The fund reorganized into a series of Wall Street EWM Funds Trust in 2014.

S

Section 8(f): The provision of the 1940 Act under which a fund applies for an order declaring that it has ceased to be an investment company, ending its registration.
Series: A separately managed portfolio within a trust, with its own assets, liabilities and shareholders. Evercore Equity Fund is the sole series of Wall Street EWM Funds Trust.
Statement of additional information (SAI): Part B of Form N-1A, containing detailed information about the fund's organization, directors, adviser, service providers and policies, incorporated by reference into the prospectus.
Statutory trust (Delaware): A business trust organized under Delaware law and commonly used as the legal form for modern fund complexes; one trust may contain several series, each a separate fund.
Successor in interest / accounting successor: A fund that adopts the performance and financial history of a predecessor after a reorganization, permitted when objectives, policies and adviser are materially the same.

T

Ticker symbol: The short code by which a fund's shares are quoted. The successor fund's symbol is EWMCX; the predecessor's former symbol is documented only where editorially necessary.
Transfer agent: The service provider that maintains shareholder records and processes purchases and redemptions. U.S. Bancorp Fund Services, LLC served the fund in 2005.