Net asset value (NAV)

The market value of the fund assets of a capital management company (the value of one share of a fund and equal to the total value of assets, less charges and expenses, divided by the number of shares). – If the fund assets are divided by the number of share certificates in circulation, the net asset value per share is calculated. The issue and redemption prices for open-ended investment funds are calculated from the net asset value. Because the net asset value of closed-end investment funds is not calculated directly from the stock market prices of the assets held in the fund, the net asset value may differ considerably from the value determined on the basis of the stock market price of the unit. – See equity funds, contagion effects, unit certificate, financial intermediaries, hedge funds, real estate funds, mark-to-model approach, procyclicality, mutual funds, bond funds, redemption barrier, special funds.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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