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The price of a share – the share value or fund price is called the net asset value (NAV). This share value is obtained by dividing the fund assets by the number of shares emitted. Net means that the ongoing costs associated with operating the fund are taken into account or have already been deducted. The NAV is calculated on the basis of the market value of the assets. The NAV reflects the actual value or effective intrinsic value of a share, unlike the market value of the share, which fluctuates according to supply and demand on the stock market. The NAV is calculated after the close of trading using the closing prices of the fund securities and the subscriptions and returns received before the cut-off time. The custodian bank carries out plausibility checks (using tolerance values). The fund management is notified if the NAV seem implausible.

Term-Nr.: 595

German: Nettoinventarwert (NAV) (562)

Source: SFO D15 2010 m. e. E., 24.04.2010

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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