Value Investing
The investment style of attempting to buy underpriced stocks that have the potential to perform well and increase in price.

Variable Annuity
A type of insurance contract that guarantees future payments to the holder, or annuitant. Capital accumulates tax-free, often through investment in a mutual fund, and is converted to an income stream at a future date (usually retirement). All monies held in the annuity accumulate on a tax-deferred basis.

Variable Universal Life Insurance
A type of permanent life insurance that permits the owner to vary the amount of protection and premiums and also builds cash value that can be invested in a variety of investment portfolios. Investment earnings on the cash value accumulate tax-deferred and the policy owner can transfer funds among investment portfolios with varying objectives.

Volatility
The amount by which the price of a security fluctuates as market conditions change.

Voluntary Accumulation Plan
A plan to acquire additional shares in a mutual fund on a more or less regular basis, at the discretion of the shareholder.

Voting Trust
The deposit of shares with a trustee to gain long-term corporate control.