The Net Asset Value (NAV) is computed by dividing the overall value of securities (including any cash) in a mutual fund, minus its liabilities, by the total number of outstanding shares. This calculation yields a per-share value representing the mutual fund's NAV.
A significant distinction exists in the way NAV fluctuates compared to stock and share prices. Unlike the continuous fluctuations observed throughout the day for stocks and shares, mutual funds calculate and update their NAV only at the end of a trading day. The NAV of a purchased unit of mutual fund is allocated basis the time of realization of funds. Refer the table below to understand the cut-off time and NAV applicability when the realization of funds happens before and after the cut-off time.
Type of scheme
Liquid/Overnight funds
Cut-off time basis payment completion
12 noon
NAV applicability
Previous day
Type of scheme
Liquid/Overnight funds
Cut-off time basis payment completion
After 12 noon
NAV applicability
Same day
Type of scheme
All other funds
Cut-off time basis payment completion
2.30 pm
NAV applicability
Same day
Type of scheme
All other funds
Cut-off time basis payment completion
After 2.30 pm
NAV applicability
Next business day
| Type of scheme | Cut-off time basis payment completion | NAV applicability |
|---|---|---|
| Liquid/Overnight funds | 12 noon | Previous day |
| Liquid/Overnight funds | After 12 noon | Same day |
| All other funds | 2.30 pm | Same day |
| All other funds | After 2.30 pm | Next business day |
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