NAV

NAV stands for Net Asset Value.

It represents the per-unit market value of a mutual fund scheme on a given business day and is calculated by dividing the total value of the scheme's assets minus liabilities by the total number of units outstanding. NAVs are declared by 11:00 PM on the AMFI portal and individual fund house websites. A lower NAV does not mean a fund is cheaper; what matters is the consistency of long-term returns relative to the benchmark.