An 'Approved List' refers to a specific selection of investments that a mutual fund or other financial institution is authorized to invest in. It can be statutory, especially when fiduciary responsibilities are involved.
Legal investment refers to safe and permissible investment options for investors who have fiduciary responsibilities to their clients or beneficiaries. These investments must meet specific legal standards, ensuring the safety and reliability of the investments.
A list of high-quality securities approved by a state agency for permissible holdings by fiduciary institutions.
