Net asset value (NAV)
Net asset value (NAV) is a term commonly used in relation to mutual funds, hedge funds, or other collective investments. It refers to the total value of the entity's assets minus its liabilities. It is also used as a synonym for book value.
NAV is computed once at the end of each trading day based on the closing market prices of the securities in the portfolio. The number is important for investors because the price per unit of a fund is calculated from the NAV.
- What is a mutual fund's NAV?. Investopedia.