Share price

Value of the fund assets divided by the total number of issued shares at a given due date.

The share price of a fund equals the price an investor has to pay or receive for a share of this very fund. When distributions to the shareholders are made, the share value decreases accordingly. The share value of a fund is determined every single trading day by the Custodian with the participation of the investment company. This price equals the the withdrawal price at which withdraws the investment company repurchases its fund shares, it is published together with the issue price.

In order to determine the share price the total value of all securities, commodities or real estate in the fund portfolio is divided by the number of issued shares.

In classical fund trading between issuer and share holder the share price is usually based on the closing price of the previous day, in on-exchange fund trading the share price will be determined continuously by means of reference models. For an exchange-traded index fund, the issuer has to calculate, and publish, a current share price every minute during trading hours and publish. This price is also referred to as an indicative net asset value.

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