seek to increase the value of UBS by achieving a sustainable, after-tax return
on equity of a minimum of 20% (UBS previously targeted a range of 15-20%)
2 billion, up 9 percent compared with 1999; after-tax return
on sales was 2.
4 billion, up 9 percent compared with 1998; after-tax return
on sales was 3.
Over time, this can have an impact on the after-tax return
of a taxable account.
20 /PRNewswire/ -- The Vanguard Group is expanding its online investor toolkit with the introduction of an after-tax return
calculator to its popular website (www.
6 billion, up 12 percent from year ago levels, with after-tax return
on sales for the quarter at 3.
The project will generate an after-tax return
on investment of about 26% with a payback period of less than three years.
Vanguard shareholder reports will devote a full page, titled "A Report On Your Fund's After-Tax Return
," to comment on a fund's pretax and after-tax performance, accompanied by the following graphical depiction of the returns:
While unnerving, the volatility highlighted an important opportunity for smart investors: to employ strategies aimed at minimizing their tax bills, thereby improving after-tax return
Gold's 12% annual pretax return over the past decade declines to less than 10% on an after-tax basis, but if the gold investment had been classified as a capital asset and taxed at a 15% capital gains rate, the after-tax return
would have been nearly 11 %.
The bank would also review pay practices to boost profitability, as well as setting a roadmap to increase its after-tax return
on equity to at least 12 percent by 2015, from 8.
The findings clearly illustrate what Lipper articulated in their report--that it's not a fund's total return that matters but the after-tax return
that you pocket.