For a variable universal life insurance policy, it is the accumulated cash value of the policy less any policy loans, policy loan interest charges, partial surrenders, and surrender charges. For shares in a mutual fund, the ownership value of each share may be determined by dividing the net assets by the number of shares. A mutual fund shareholder is, simply put, an investor in a fund. He or she owns shares in the fund as a result of the investment being made. Generally, shares may be purchased or redeemed for cash at any time.
Statements are periodic reports to investors regarding their investment accounts.
Statements usually contain the name and address of the account holder, the date of the statement, the current number of shares, the current value per share, recent transactions that have occurred, such as purchases and dividends, and the total account value. Year-end mutual fund summaries, showing all transactions for the preceding year, should be kept by investors as long as the account is open, for tax calculation purposes, and then for a period of at least three years. A type of investment security, denominated in shares, that represents ownership in a company. The buying and selling of investments, such as stocks and bonds, for an investment.