单位净值

采用基于横截面回归的方法，考察1999年12月至2003年6月间的20只封闭式基金的业绩，从单位净值收益率和市价收益率两个方面研究基金业绩的持续性。

The study tests the performance persistence of domestic closed-end funds by two criteria : net asset value performance and market price performance .

封转开是解决封闭式基金到期问题的一种方法，其是指封闭式基金转型为开放式基金，从而使基金价格回归到基金单位净值。

Open-ending of closed-end funds is one way to address the issue of expiration , which means closed-end funds is converted into open-end funds to make the market price equal the NAV ( net asset value ) .

从我国来看，大多数开放式基金的资产净值都跌回了2年前的水平，2008年以后新创设的非债券型开放式基金的单位净值无一例外大幅跌破发行价。

From our perspective , most of the net assets of open-end funds are falling back to the level of 2 years ago , the value of non-bonds OEF fell sharply without exception .

封闭式基金折价现象是指封闭式基金经常性地以低于其单位资产净值（NAV）的价格出售的现象，这一现象在国外成熟资本市场和新兴的中国证券市场都普遍存在。

The discount of closed-end fund refer to the phenomena that the funds often be sold at a price under the net asset value ( NAV ) of their underlying portfolio , witch can be found on both mature and emerging markets .

开放式基金由于其自身的特点，即投资者随时可以单位资产净值中购或赎回基金单位，使得流动性风险成为了其面临的主要风险。

Because open-end fund has characteristics itself , namely , investors may buy or sell fund units depends on unit net asset value , and liquidity risk become the major risk that open-end faces to .

赎回风潮直到美国财政部公布了一项临时担保计划方才得到遏制，财政部将担保所有付费参与该计划基金的单位资产净值不低于1美元。

The resulting investor anxiety led to billions of dollars of outflows from money funds that were only stemmed when the Treasury announced a temporary guarantee of the $ 1 net asset value for all funds that paid a fee to participate in the programme .