NISM Certifications · NISM-Series-X-A: Investment Adviser (Level 1) · Operational Aspects of Investment Management
A mutual fund scheme holds securities valued at Rs 520 crore, has other assets of Rs 10 crore and liabilities and accrued expenses of Rs 30 crore. It has 40 crore units outstanding. What is the NAV per unit?
NAV per unit is Rs 12.50. Net assets equal securities plus other assets minus liabilities, that is 520 + 10 - 30 = Rs 500 crore, and dividing by 40 crore units gives Rs 12.50.
- ARs 12.50Correct
- BRs 13.00
- CRs 13.25
- DRs 14.00
Explanation
Net assets = 520 + 10 - 30 = Rs 500 crore. NAV = 500 / 40 = Rs 12.50. Rs 13.00 ignores other assets and liabilities (520/40). Rs 13.25 ignores liabilities (530/40). Rs 14.00 subtracts nothing incorrectly and is not supported by the data.
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