Terms beginning with 'N'
Net Asset Value (NAV)
The per share market value of a mutual fund.
The residual ownership position calculated by subtracting the dollar value of liabilities from assets.
An initial stock sale usually of a company going public.
A stock that has been recently been listed on an exchange.
No Load Mutual Fund
A fund whose shares are bought and sold directly at the fund’s NAV. No sales commission is charged.
A pension scheme whose rules do not require any contribution from active members – i.e., the employer is liable for all contributions needed to support the scheme.
Normal Retirement Age
The age at which the plan assumes that members are going to retire. The NRA specified by the Pensions (Superannuation Funds and Retirement Schemes) Act, 2004 is between 60 and 65 years.
Normal Retirement Date
The date at which a member of a pension plan normally becomes entitled to receive retirement benefits. This date is the Date benchmark which determines early retirement and late retirement.
Debt securities with a maturity of one to five years.