Net Asset Value
The price per share, or NAV (net asset value), is calculated by dividing the fund's assets minus liabilities by the number of shares outstanding. This is usually calculated at the end of every trading day.
Read more about this topic: Open-end Fund
Famous quotes containing the words net and/or asset:
“Hard times accounted in large part for the fact that the exposition was a financial disappointment in its first year, but Sally Rand and her fan dancers accomplished what applied science had failed to do, and the exposition closed in 1934 with a net profit, which was donated to participating cultural institutions, excluding Sally Rand.”
—For the State of Illinois, U.S. public relief program (1935-1943)
“When ... did the word “temperament” come into fashion with us?... whatever it stands for, it long since became a great social asset for women, and a great social excuse for men. Perhaps it came in when we discovered that artists were human beings.”
—Katharine Fullerton Gerould (1879–1944)