What is the NAV of a fund or NTA of an investment company?
For a fund, the NAV stands for the Net Asset Value per unit. The NAV is determined by adding the value of all investments valued at their market prices on the valuation date, less any identified costs, and dividing by the number of units currently held by investors. The market value of shares and bonds held in a portfolio is determined using the last quoted price on the day before valuation. For an investment company, the NTA stands for the Net Tangible Assets per share. The NTA is determined by adding the value of all investments valued at their market prices on the valuation date, less any costs and taxes, and dividing by the number of shares issued by the company. The market value of shares and bonds held in a portfolio is determined using the last quoted price on the day before valuation.
