Net asset value
Also called: NAV, net asset value per unit
The value of a fund's holdings minus its liabilities, divided by the number of units, at which investors buy and redeem.
A low NAV does not make a fund cheap: NAV reflects when the fund started and how it has performed, not whether its holdings are good value. An ETF's market price can differ from its NAV.
Example
Holdings of ₹5,200 crore minus liabilities of ₹200 crore, over 250 crore units, is a NAV of ₹20.
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