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NAV (Net Asset Value)
NAV is the value of a mutual fund’s total assets minus liabilities, divided by the number of units. It is calculated at the end of each trading day, and investors buy or redeem units at that day’s NAV.
Why It Matters
A low NAV does not make a fund cheap; returns depend on how the NAV changes, not its level.
In India
A fund with an NAV of ₹15 and one with an NAV of ₹150 can deliver exactly the same returns.