Sentences with phrase «creation unit sales»
Creation unit sales can generate profits and losses for the broker - dealer prior to exchange listing.
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In particular, same - restaurant sales have now exceeded our estimate of industry performance for 14 consecutive quarters, and new units continue to significantly exceed their value - creation hurdle.
U-S Senator Charles Schumer is calling for the creation of a special unit to target on - line sales of
U-S Senator Charles Schumer is calling for the creation of a special unit to target on - line sales of synthetic marijuana.
A creation unit is a block of new shares sold by an exchange - traded fund (ETF) company to a broker - dealer for sale on the open market.
Although designed for individual investors, institutional investors play a key role in maintaining the liquidity and tracking integrity of the ETF through the purchase and sale of creation units, which are large blocks of ETF shares that can be exchanged for baskets of the underlying securities.
Further, the net annual distributions per unit may decrease over time because a portion of the securities included in the portfolio will be sold to pay for organization costs, deferred sales charges, the creation and development fee and other regular fees and expenses during the life of the portfolio.
Under the SEC proposal, an ETF would be defined as a registered open - end management investment company that: • Issues (or redeems) creation units in exchange for the deposit (or delivery) of basket assets the current value of which is disseminated per share by a national securities exchange at regular intervals during the trading day; • Identifies itself as an ETF in any sales literature; • Issues shares that are approved for listing and trading on a securities exchange; • Discloses each business day on its publicly available web site the prior business day's net asset value and closing market price of the fund's shares, and the premium or discount of the closing market price against the net asset value of the fund's shares as a percentage of net asset value; and • Either is an index fund, or discloses each business day on its publicly available web site the identities and weighting of the component securities and other assets held by the fund.
These seemingly opposite interests in ETFs make for a large and lucrative market not just for the ETF operators like BlackRock's iShares and State Street Global Advisors SPDRs, but also for the authorized participants — institutions that can create or redeem large blocks of new shares in an ETF (called creation units) for sale, and countless brokers that profit by trading ETF shares.
Old formula as prescribed by IRDA and as contained in the policy document: Market value of the investment plus / (minus) expenses incurred in the purchase / (sale) of assets plus current assets and accrued interest (net of fund management charges) less current liabilities and provisions, divided by, number of units outstanding under the fund at valuation date (before creation / redemption of units).
Home sales are expected to increase to 5.5 million units from 5.3 million next year as job creation and other economic fundamentals remain strong, but longer - term prospects for home ownership face head winds if younger households continue to find it difficult to buy.