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NAREIT
  National Association of Real Estate Investment Trusts
Nasdaq
  A computerized system established by the NASD to facilitate trading by providing broker/dealers with current bid and ask price quotes on over-the-counter stocks and some listed stocks. Unlike the Amex and the NYSE, the Nasdaq (once an acronym for the National Association of securities Dealers Automated Quotation system) does not have a physical trading floor that brings together buyers and sellers. Instead, all trading on the Nasdaq exchange is done over a network of computers and telephones.
 
 
 

Also, the Nasdaq does not employ market specialists to buy unfilled orders like the NYSE does. The Nasdaq began when brokers started informally trading via telephone; the network was later formalized and linked by computer in the early 1970s. In 1998 the parent company of the Nasdaq purchased the Amex, although the two continue to operate separately. Orders for stock are sent out electronically on the Nasdaq, where market makers list their buy and sell prices. Once a price is agreed upon, the transaction is executed electronically.
 
Net Asset Value (NAV)
  NAV equals the closing market value of all assets within a portfolio after subtracting all liabilities including accrued fees and expenses.
  NAV per share is the NAV divided by the number of shares in issue. This is often used as the price of a fund. A purchase fee may be added to the NAV when buying units in the fund. This fee is typically 1-7%.
 
Net Exposure
  The exposure level of a fund to the market. It is calculated by subtracting the short percentage from the long percentage. For example if a fund is 100% long and 30% short, then the net exposure is 70% long.
 
Nominee Name
  Name in which a security is registered and held in trust on behalf of the beneficial owner.
 
     
 
 
 
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