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Billionaire investor Bill Ackman is planning to create a new publicly traded investment fund and is kicking off a pre-IPO roadshow to build investor interest. The new fund will be called Pershing Square USA and will list on the NewYorkStockExchange under the ticker symbol PSUS. annualized).
Vanguard has built its reputation on a shareholder-first approach, which translates into a diverse offering of stock, bond, and fixed-income ETFs that come with exceptionally low expense ratios. This investor-friendly feestructure is a significant factor in the company's impressive performance record in the rapidly expanding ETF market.
Two additional key performance indicators that management will be discussing on this call are net asset value or NAV and return on equity or ROE. NAV is defined as total assets minus total liabilities and is also reported on a per-share basis. We've also continued to produce favorable results in our asset management business.
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