Terms & Definitions - N
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Net asset value: The value of all the holdings of a mutual fund, less the fund's liabilities.
Net asset value per share: Net asset value of a mutual fund divided by the number of shares or units outstanding. This represents the base value of a share of unit of a fund and is commonly abbreviated to NAVPS.
No-load fund: A mutual fund that does not charge a fee for buying or selling its shares.
Non-Evidence Maximum (NEM): The amount of coverage available to an insured, under a group insurance contract, without having to prove his/her state of health. Also referred to as Guaranteed Issue Limit or Non-Medical Maximum.
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