Investment Glossary

A financial document public corporations are required to send each year to their shareholders. This report discloses financial and operational information, and will usually be audited by an outside, independent authority.

Typically, an annual report will contain:

• financial highlights
• letter to the shareholders
• discussion and analysis
• financial statements
• notes to financial statements
• auditor's report
• corporate information

With mutual funds, an annual report must be provided to fund shareholders each fiscal year. The report explains the fund’s operations and finances.