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Aug 30, 2024 · FactSet has a consistent track record of rewarding its shareholders through share repurchases and dividends. During fiscal 2023, 2022 and 2021, the company repurchased shares worth $18.64 million...
- Unit-Based Accounting
- Net
- Asset
- Value
- The Share Count
- Finally: A number! Now What?
That’s where the idea of unit-based accounting comes in. Instead of just keeping the account in one big dollar amount, we decide that our new fund will issue 100 shares when we launch it. Since we’re putting in $20,000, each share will be initially worth $200. Now, if we want to see how we’re doing, all that we have to do every day is take the pile...
Let’s start with “Net.” NAVs are net, in the sense that they are the sum of all of the assets in the account, minus all the liabilities. But there are things not necessarily obvious that have to be “netted” to. Someone has to keep track of how much money we owe Bill and Ted. Someone has to keep track of any expenses (like paying the custodian). In ...
Next up on the opportunity for confusion is “Asset.” This would seem very simple: The fund either owns something or it doesn’t. Unfortunately, the mutual fund industry is governed by an 80-year-old document called the Investment Company Act of 1940. The specific rules for what counts as an asset include this little-known fact (from Rule 2a-4): “Cha...
But where the ambiguity in NAV really happens is in the word “Value.” Fund boards have the responsibility of establishing a set of rules about how any security in the fund will be valued. Most of the time, this is trivial—it’s pretty easy to get the closing price of IBM. But in many cases, reasonable people can disagree. What if a security hasn’t t...
Once we have a final number that represents the total true value of the fund based on all of the rules and policies, we just need to know how many shares to divide it by to get the number we call NAV. That’s where the transfer agent comes in. When a new investor wants to join our fund, a transfer agent issues newly manufactured shares and writes do...
So you take the big portfolio value number, divide it by the number of shares and you have a net asset value. What then? If you’re a mutual fund investor, your NAV is an incredibly important number, because it’s your actual price. When you buy or sell a mutual fund, you put in an order in the middle of the day, and you get your actual buy or sell e...
- Dave Nadig
Mar 7, 2023 · FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.
- Edward Mccormick
Aug 26, 2024 · Summary. FactSet Research Systems, an American financial data and software company, is now a $16 billion (by market cap) financial data powerhouse. The company has already increased its dividend...
1 day ago · About 18% of FactSet’s revenue is from sell-side investment banks, which also tends to show some cyclicality. In our view, FactSet’s risks are mitigated by the fact that client concentration ...
1 day ago · FactSet Q4 Investor Presentation (FactSet Q4 Investor Presentation) They have over $2.2 billion in annual revenue, with an operating margin of 38%. Revenue is recurring, as clients pay annually ...
Jul 25, 2024 · FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.
