|
|
| A
B C
D E
F G
H-I J-K-L
M N O
P Q-R S
T U-V-W-X-Y-Z |
Naked call option
|
See covered vs. uncovered
(naked) call. |
Naked put option
|
See covered vs. uncovered (naked)
put. |
Net Asset
Value (NAV)
|
The net asset value of an investment
company is its total assets less its total liabilities. Mutual
funds and unit investment trusts (UITs) normally calculate their
NAV at the close of each business day, and then all buy and sell
orders are processed at the NAV. The NAV for a closed-end
fund need not be calculated daily, because its shares trade at market
value, not at NAV.
|
Net
assets
|
Total assets less total liabilities, which equals owners' equity.
|
Net capital gain
|
See capital gain or loss. |
Net income
|
The part of income remaining
after all expenses and taxes have been paid. Also called net
profit.
|
Net tangible
assets
|
Net assets
less intangible assets. |
No par value
|
When shares of a corporation have
no stated face value, they are said to be no par
value shares.
|
No-load
fund
|
This type of mutual
fund does not charge sales commissions, but trailer
fees are paid annually by the fund to the advisor, broker or
dealer where you hold your funds. A no-load fund may have a
higher management expense ratio (MER), to make up
for the lack of sales charges. See also front-end
load fund and back-end load fund.
|
Nominal interest rate
|
See interest rates. |
Non-cumulative
|
A non-cumulative preferred
dividend does not accrue or accumulate if unpaid.
|
Noncapital asset
|
A noncapital asset is property that is not a capital
asset. This includes:
 |
depreciable property used in your trade or
business or as rental property |
|
real property used in your trade or business or
as rental property |
|
property held for resale in your business |
|
supplies consumed regularly in the course of
your trade or business |
|
accounts or notes received acquired in the
ordinary course of your trade or business for services rendered or
for the sale of inventory and other property that you normally
hold for resale |
|
certain literary, musical or artistic
compositions, copyrights, letters, memorandums or similar
property. However, you can elect to be treated as capital
assets some musical compositions or copyrights that you sold or
exchanged. |
|
certain commodities derivative financial
instruments held by a commodities derivatives dealer |
|
hedging transactions that are clearly
identified as hedging transactions by the end of the day on which
they are acquired |
|
certain US Government publications |
|
| [back to top]
Revised: February 20, 2009
|
