Average duration provides a measure of a fund's interest-rate sensitivity � the longer a fund's duration, the more sensitive the fund is to shifts in interest rates. The relationship between funds with different durations is straightforward: A fund with a duration of 10 years is twice as volatile as a fund with a five-year duration. Duration also gives an indication of how a fund's NAV will change as interest rates change. A fund with a five-year duration would be expected to lose 5% from its NAV if interest rates rose by one percentage point or gain 5% if interest rates fell by one percentage point.

This fund invests in fixed income instruments such as debentures (bonds), Treasury Bills etc. Preferred by investors who want steady income and not willing to take much of risk.

Shares of non-US companies traded in American stock exchanges in US dollars. ADRs work like any other share that we know of. They are negotiable receipts held in a US bank representing a specific number of actual shares (called ADS). For the American public ADRs simplify investing. So when Americans purchased Infosys stocks listed on Nasdaq, they could do so directly in dollars, without converting them from rupees. Such companies are required to produce financial results according to a standard accounting principle, thus, making their earnings more transparent. An American investor holding an ADR does not have voting rights in the company.

 A mutual fund investing in stocks or bonds through out the world.

 This is a scheme that invests only in equity.