NAV (Net Asset Value) = Total value of assets held by the mutual fund − Total liabilities
NAV per unit = Net assets ÷ Total number of outstanding units
Total assets = Market value of all securities + cash + receivables + other assets
Total liabilities = Expenses payable + fees due + other obligations
NAV per unit = (Market value of portfolio + cash and other assets − liabilities) ÷ Outstanding units
Example: If net assets are 10,000,000 and units outstanding are 1,000,000, NAV = 10 per unit
Calculate using closing market prices of all portfolio holdings
Deduct accrued expenses and liabilities before dividing by units
Use the fund’s valuation date for the calculation
Recalculate NAV after market close for the applicable day