An expression for net asset value that represents a fund's (mutual, exchange-traded, and closed-end) or a company's value per share. It is calculated by dividing the total net asset value of the fund or company by the number of shares outstanding. Also referred to as "book value per share".Calculated as: |||NAVPS is the value of a single unit, or share, of a fund. This figure for a mutual fund is the price at which shares are bought and sold. Because exchange-traded and closed-end funds are listed and traded as stocks, which are subject to market forces, their NAVPS and buying/selling prices per share can be divergent.In the context of corporate financial statements of publicly traded companies, the NAVPS, more commonly referred to as book value per share, is usually below the market price per share. The historical cost accounting principle, which tends to understate certain asset values, and the supply and demand forces of the marketplace generally push stock prices above book value per share valuations.
Identical to a standard split-dollar insurance plan, except that a charity, instead of an employer, owns the life insurance policy. Charitable split-dollar insurance plans pay death benefit proceeds to the beneficiaries of the donor, just as standard plans pay proceeds to the beneficiaries of the employee. Taxpayers cannot deduct the contributions they make to a charity that are earmarked as premium payments anymore. This loophole was closed when the laws for standard plans were updated in 2003.
An individual or organization that tries to take over a company by initiating a hostile takeover bid. Raiders look for companies with undervalued assets and then attempt the hostile takeover by purchasing enough shares to gain a controlling interest.
A term used to describe the elimination of a contract due to the obligation of delivery. This occurs if an option is exercised, if a redeemable bond is called before maturity or if a short position held in a security requires delivery. Taobiz explains Called Away For example, if an investor has written a call option and the holder of the option exercises it, then the option has been "called away" and the writer has to complete his/her obligation to the contract. When an investment is "called away", it can result in an investor missing out on potential gains in the underlying asset.
A term relating to a negative balance on a company's financial statements. The phrase "in the red" is used widely to refer to companies that have not been profitable within their last accounting period. This term is derived from the color of ink used to by accountants to enter a negative figure on a company's financial statements.
A type of gift transaction where an individual transfers assets to a charity in exchange for a tax benefit and a lifetime annuity. As with any other lifetime annuity, when the beneficiary dies, the annuity payments are stopped, and the charity retains the remaining funds. In a typical charitable gift annuity, the annuity payouts are not limited to the contributed assets, however the actuarial calculations establishing payout amounts usually provide that a large residual amount should remain for the charity after the beneficiary's death. Charitable gift annuities are popular fundraising vehicles. The annuities simultaneously provide a charitable donation, an income tax deduction and a guaranteed lifetime income stream. The charitable donation tax deduction is limited to the amount contributed to the annuity in excess of its present value, as calculated using IRS parameters.
A mutual fund's price per share or exchange-traded fund's (ETF) per-share value. In both cases, the per-share dollar amount of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. |||In the context of mutual funds, NAV per share is computed once a day based on the closing market prices of the securities in the fund's portfolio. All mutual funds' buy and sell orders are processed at the NAV of the trade date. However, investors must wait until the following day to get the trade price.Mutual funds pay out virtually all of their income and capital gains. As a result, changes in NAV are not the best gauge of mutual fund performance, which is best measured by annual total return.Because ETFs and closed-end funds trade like stocks, their shares trade at market value, which can be a dollar value above (trading at a premium) or below (trading at a discount) NAV.
Common stock that allows the issuer to call back the stock at a specific price. Taobiz explains Callable Common Stock Typically, callable common stock is issued for a subsidiary company by the parent company. The parent company reserves the right to buy back the shares of the subsidiary company should it be strategically beneficial.
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