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Discretionary Proposition |
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Discretionary PropositionA proposal on a proxy card that brokers can cast in favor of management if they have not yet heard from the beneficial holder ten days before the annual meeting. See: Ten-Day RuleDiscretionary Proposition Similar MatchesDiscretionary trustDiscretionary trustIn the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security. In the context of trusts, refers to a personal trust in which a trustee has the power of decision as to how much income or principal each beneficiary receives. Discretionary cash flowDiscretionary cash flowCash flow that is available after the funding of all positive net present value (NPV) capital investment projects; it is available for paying cash dividends, repurchasing common stock, retiring debt, and so on. Nondiscretionary trustNondiscretionary trustA personal trust whose trustee has no discretion in deciding how income will be distributed to the beneficiary. Discretionary brokerDiscretionary brokerA broker who not only deals in stocks and shares on behalf of his client, but who also makes the decisions about what should be bought and sold for the portfolio and has authority to execute those decisions without getting prior approval from the client. Also known as a full-service account.Contrast with advisory brokers and execution-only brokers.The website of The Association of Private Client Investment Managers and Stockbrokers- http://www.apcims.co.uk - provides a list of brokers and the services which they offer. Discretionary licensingDiscretionary licensingSee licensing. Further SuggestionsDiscretionary incomeNon Discretionary Proposal discretionary trust Discretionary reserves |
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