CMA Final · Strategic Financial Management · Mutual Funds
A fund holds equity worth Rs 90 lakh, bonds worth Rs 8 lakh and cash Rs 4 lakh. Accrued expenses payable are Rs 2 lakh and there are 5 lakh units. What is the NAV per unit?
NAV per unit is Rs 20. Total assets are Rs 102 lakh, and after deducting Rs 2 lakh of accrued expenses, net assets are Rs 100 lakh, which divided by 5 lakh units gives Rs 20. Ignoring liabilities gives Rs 20.40.
- ARs 20.00Correct
- BRs 20.40
- CRs 19.60
- DRs 18.00
Explanation
Total assets = 90 + 8 + 4 = Rs 102 lakh. Less liabilities 2 = Rs 100 lakh. NAV = 100 lakh / 5 lakh = Rs 20. Rs 20.40 ignores the liability.
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