- Q -
Stands for Net Asset Value. The market value of a
fund's total assets, minus its liabilities and intangible
assets, divided by the number of shares outstanding. The
measure is used to determine prices available to investors for
redemptions and subscriptions. Hedge funds typically calculate
their NAVs at the end of every business day, but report them
to investors on a monthly basis.
A U.S. SEC rule stating that hedge fund managers and other
types of investment advisors must deduct the advisory fees they
charge from any performance figures presented to
Performance with management fees deducted.
Performance with all fees deducted.
The process of adjusting a gross amount, usually by
subtracting. The term usually applies to the deduction of fees
and taxes from an investment's return.