• Net asset value

    A collective investment fund's total asset market value, including accruals and after deducting debts and expenses. Net asset value (NAV) may represent the value of the total equity, or it may be divided by the number of shares or units outstanding and held by investors and, thereby, represent the net asset value per share. The fund's shares or units are sold to the public at NAV plus any sales charges, and shares are redeemed at NAV less any redemption charges. The NAV is typically calculated using the previous day's closing prices and is published in newspapers on the evening of the day that it is calculated. See also Accumulating Net Asset Value and Stable Net Asset Value.