At the time of termination, each ETF's property remaining after paying or providing for the relevant ETF's liabilities and obligations will be distributed on a pro rata basis among the ETF's unitholders based on the final net asset value
("Final NAV") per unit of the ETF that is held by such unitholders.
"Share repurchases may be a plus for REIT net asset values
in the short term, but over time the resultant increase in leverage could impair credit quality," he said.
If anything, the record breaking level of M&A activity in 2006 showed that the public market has underestimated REIT net asset values
. Experts say that while The Blackstone Group's $36 billion purchase of Equity Office Properties in November seemed like an eye popping price to pay, the private equity giant will likely be able to effectuate an arbitrage by dismantling and selling off the portfolio piecemeal at a profit over the next few months.
A net asset value
(NAV) quote may therefore not reflect the "real" market price of a position.
Mr Stoddart was speaking after reporting interim results, including a seven per cent rise in net asset value
One market consultant specializing in hedge funds identified at least 800 hedge funds, up from about 100 in 1987, and others cite far higher number.(1) Other privately published directories of hedge funds indicate the Soros group of funds alone has about $9 billion of capital and the Tiger group has $6.5 billion of capital (net asset value
"Currently, with Home Properties' stock price at or below 90% of the midpoint of the company's published estimate of its net asset value
range, re-purchasing shares is accretive and, we believe, will enhance future value for our shareholders." said Edward J.
According to William Morrill, managing director and CEO of Real Estate Securities at LaSalle Investment Management, "A property worth $100 million on Maui Street today would be trading on Wall Street at a 12 percent discount to net asset value
Roye: [The law] generally requires every mutual fund and every selling dealer of fund shares to buy and sell the fund's shares at a price based on the current net asset value
that is next computed after receipt of the purchase or sale order.
Under the Fund's current distribution policy, the Fund intends to pay a minimum annual distribution of 10% of the average net asset value
of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies.