Grow More Fund has a size of ₹ 600 crore with face value of each unit being ₹ 10. The following information has been provided to you in respect of the fund: Market value of investments ₹ 720 crore Receivables ₹ 9 crore A
CS Executive · Securities Laws and Capital Markets · PYQS · December 2024
Grow More Fund has a size of ₹ 600 crore with face value of each unit being ₹ 10. The following information has been provided to you in respect of the fund: Market value of investments ₹ 720 crore Receivables ₹ 9 crore Accrued income ₹ 8 crore Liabilities ₹ 5 crore Accrued expenses ₹ 3 crore Calculate the Net Asset Value (NAV) of the fund.
Answer & Explanation:
Net Asset Value (NAV) = Net Asset of the scheme / Number of units outstanding Where Net Asset of the Scheme = Market Value of Investments + Receivables+ Accrued Income+ Other Assets - Accrued Expenses- Other Payables- Other Liabilities Net Assets of the Scheme = ₹ 720 crores + ₹ 9 crores + ₹ 8 crores - ₹ 5 crores - ₹ 3 crores = ₹ 729 crores Number of units outstanding = 600 crores / ₹ 10 = 60 crores Therefore, NAV per unit = NAV / number of units NAV = ₹ 729 crores / 60 crores units NAV = ₹ 12.15 per unit
Topics: Mutual Funds
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