And Danone added 1.9% after its underlying net profit was broadly in line with analysts' expectations.
But there is no guarantee that ETFs will trade at the value of their underlying net assets (NAV).
The fund currently trades at an approximate 20% discount to the underlying net asset value of its portfolio.
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The portfolio currently trades at a 10.5% discount to the underlying net asset value of its portfolio holdings.
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Their shares are at near-record 19% average discounts to underlying net asset values.
Morgan Stanley's REIT Index is down 24% so far this year, and most REITs sell at an average of close to 10% discount to their net underlying asset values, according to Jon Fosheim of Green Street Advisors.
In purchasing the stock, you will be paying for the net FMV of the underlying assets.
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The Dutch firm's underlying profitability in the last quarter - net of the fine and various restructuring costs - improved to 875m euros, beating the expectations of most market analysts.
He looks for shares trading at discounts to what their underlying property is worth, that is, the net asset value.
The biggest difference is that index funds operate in the way all mutual funds do, in that they are priced at the close of the trading day based on the net asset value (NAV) of the underlying securities.
Although net income dipped a bit, operating profit (a better reflection of its underlying business) rose by 17%, boosted by robust loan growth in a booming economy.
The more transparent treatment of the net gains to the Treasury from quantitative easing make the picture brighter, but the underlying deterioration is there.
These unitholders will receive the then-current net asset value of the units, based on the current market value of the underlying securities in the portfolio, less any remaining deferred sales charge, as of the evaluation time.
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Although returns have been quite good this year, the net asset value of these funds, which is tied to the quality of the underlying loans, has been slipping for several months, according to Morningstar, a fund-analysis service.
At Cornerstone, investors are receiving "distribution yields" of roughly 22% of net asset value, and the shares trade for much more than the value of their underlying assets.
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