NAV, or Net Asset Value, denotes the per-share market value of a specific mutual fund. To find the NAV, subtract the fund's liabilities from its total asset value, then divide by the number of outstanding shares. This metric requires you to accumulate the market value of the portfolio and subsequently divide it by the total current fund units.

Typically, mutual funds begin with a unit cost of Rs. 10, which rises as the assets under management (AUM) expand. Hence, more popular funds often have a higher NAV.

The term NAV is often associated with open-end funds, as these shares are not traded between shareholders.