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NAV calculation is at a per-unit level. So, the net value to be divided by the total units. This is the value per mutual fund unit. The market value of the underlying assets or securities changes every day and accordingly mutual fund NAVs also change daily. The mutual fund houses are mandatorily required to disclose the Net Asset Value on a daily or weekly basis, depending on the type of mutual fund scheme.
The open-ended schemes are required to disclose the NAV on all working days while the close-ended schemes are required to disclose weekly.
Where the assets include the value of securities and liquid cash. The securities in which the scheme has invested include both equity, debentures, bonds, bills of exchange, commercial paper. It also includes the interest accrued and dividend earned.
The liabilities and expenses include the money payable, interest payable, fund management expenses. It is not advisable to evaluate which mutual funds to invest only on the basis of the Net Asset Value. A lower NAV does not mean the mutual fund is cheap and the investor is in a gaining position by buying at a lower price or lower NAV.
This is not like the share price or market price of shares listed on the stock market. This only shows the current value of the units. A higher Net Asset Value only reflects the positive performance of the scheme and that it has been issued a long time before. Also, a higher NAV of a scheme means an investor will receive a lower number of units and a lower NAV means an investor receives a higher number of units.
Arun invests in 2 different schemes, Scheme-A and Scheme-B. He invests Rs 1 lakh in both the schemes. The initial amount invested for both the schemes is Rs 1 lakh. The only difference is the number of units allocated, the units allocated in Scheme-A is higher than Scheme-B. But the NAV and the return for both the schemes are the same. So, the role of NAV is not the only factor to measure the performance of the fund.
Mutual fund NAVs are the book value of the scheme. When investing in any scheme, an investor must check the past performance of the scheme. Also, an investor must look at the returns earned by the fund over the years. The assets, liabilities and the total units are listed in the below mentioned below. This illustration clears the formula and Net Asset Value calculation concept.
The NAV is calculated every day after the market closes either by the mutual fund house itself or the accounting firm appointed by the fund house. This causes them to believe that a fund with a lower net asset value is cheaper and hence, a better investment.
In truth, it is not an indicator of mutual fund performance. A lower value alone does not make a fund a better investment or vice versa. Hence, it should not be the only determining factor to choose a mutual fund. Let us look at two funds we have picked at random. There is a stark difference in the net asset value of both funds, but as the table below shows, the performance of both funds are comparable. Basically, the NAV should not have bearing on any of your fund selection.
It basically shows how the underlying assets have performed. However, it is not an appropriate indicator of fund performance. You need to look for returns perspective keeping your investment horizon in mind and make an informed decision.
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I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Mutual Funds Mutual Fund Essentials. Table of Contents Expand. Understanding Net Asset Value. The Formula for NAV. NAV and Mutual Funds. NAV and Trade Timelines. Measuring Investment Performance. Example of NAV Calculation. Key Takeaways Net asset value, or NAV, is equal to a fund's or company's total assets less its liabilities. For an investment fund, NAV is calculated at the end of each trading day based on the closing market prices of the portfolio's securities.
For firms, NAV can be construed as close to its book value. A firm's or fund's shares may trade in the market at levels that deviate from its NAV. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
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