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National Association of Securities Dealers

A self-regulatory organization that oversees the activities of broker/dealers and their representatives.

Net Asset Value (NAV)

The current market value of a mutual fund share. For no-load funds, the NAV and offering price are the same number. For load funds, the offering price is NAV plus sales charges.

Net Income

Revenue minus all expenses equals net income. Net income can be a positive (profit) or negative (loss) number.

Net Income per Share of Common Stock

The net income of a company divided by the number of outstanding shares.

Net Present Value (NPV)

A calculation for evaluating investments that includes cash in and cash out and uses a discount rate to determine the current value of a stock.

Net Proceeds

The proceeds of a sale after all expenses are deducted including commissions.

Net Worth

Assets minus liabilities equals net worth.

New Issue

A stock or bond that is being offered for sale to the public for the first time.

No-Load Fund

A mutual fund that does not have any sales charges including front-end, back-end, and level loads.

Nominal Rate of Interest

An interest rate after inflation is deducted.

Nominal Yield

The annual income of a fixed income security divided by the par value of the security that is expressed as an annual percentage.

Non-Systematic Risk

Non-market risk that is best explained by company risk for example bad management.