Understanding key mutual fund terms

— -- •Core: Mix growth and value strategies. Lipper classifications: large-company core (LCC); midcap core (MCC); small-cap core (SCC); multicap core (MLC). International funds are preceded by an I, as in ILC for international large-cap core. Global funds are preceded by a G.

•Equity-income (EI): Seek income and growth investing in bonds and stocks, especially with dividends.

•Growth:Invest in companies whose earnings are expected to grow faster than average. Lipper classifications: large-company growth (LCG); midcap (MCG); small-cap (SCG); multicap (MLG).

•Midcap (MC):Invest in midsize companies with market values of less than $5 billion.

•Multicap:Can invest in stocks of any size company. Lipper categories: multicap growth (MLG); multicap value (MLV); multicap core (MLC).

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•Small-cap (SC):Invest in companies with market value of less than $1 billion.

•S&P 500 (SP):Mirror the S&P 500-stock index.

•Value:Buy stocks of out-of-favor companies selling for low prices relative to earnings. Classifications: large-company value (LCV); midcap value (MCV); small-cap value (SCV); multicap value (MLV).

•Mixed-asset target (MXX): Invest in stocks, bonds and money market securities, shifting more to income as the target year approaches. (XX is the target year; M40 funds target retirement in 2040.)