and income fund A mutual fund that invests primarily in stocks with a history of capital gains (growth) and consistent dividend payments (income). Growth manager A money manager who seeks to buystocks that typically sell at relatively high P/E ratios due to high earnings growth, with the expectation of continued high or higher earnings growth. Growth opportunity Opportunity to invest in profitable projects. Growth phase A phase of development during which a company experiences rapid earnings growth as it produces new products and expands market share. Growth rates Compound annual growth rate for the number of full fiscal years shown. If there is a negative or zero value for the first or last year, the growth is N.M. (not meaningful). Growth stock Common stock of a company that has an opportunity to investmoney and earn more than the opportunity cost of capital. Guarantee The assumption of responsibility for payment of a debt or performance of some obligation if the liable party fails to perform to expectations. Guarantee Fee A sum paid by the importer to the guarantor, usually as a percentage per annum of the face value of the bills or notes being guaranteed. Guarantee letter A commercial bank's letter assuring payment of the exercise price of a client's put option. Guaranteed bond A type of bond for which a firm other than the issuerguarantees its interest and principal payments. Guaranteed insurability A life and health insurance policy feature that enables the insured to add coverage at future times and at fixed and agreed-upon rates regardless of health conditions. Guaranteed insurance contract A contract promising a stated nominal interest rate over some specific time period, usually several years. Guaranteed investment contract (GIC) A pure investment product in which a life company agrees, for a single premium, to pay at a maturity date the principal amount of a predetermined annual crediting (interest) rate over the life of the investment. Guaranteed Mortgage Certificates (GMC) First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac. Guarantor A party who will guarantee repayment or performance of a covenant. Guardian An individual or trust institution appointed by a court to care for a minor or an incompetent person and his or her property. Guaranteed renewable policy insurance A type of insurance policy that requires the insurer to renew the policy to an individual regardless of health changes. No changes may be made to an individual policyholder unless the same change is applied to all policyholders. Guaranteed replacement cost coverage insurance A policy that covers the full cost of replacing damaged property without any allowances or deductions, e.g., depreciation. Guaranteeing/ Avalising Bank The person, bank, or financial entity who gives the guarantee for the importer. Guarantor program Under the Freddie Mac program, the aggregation by a single issuer (usually an S&L) for the purpose of forming a qualifying pool to be issued as PCs under the Freddie Macguarantee. Guidance It is increasingly important for firms to meet or exceed analysts' consensus earnings forecasts.