NAV (Net Asset Value) is the per-unit price of a mutual fund — the total value of everything the fund owns, divided by the number of units in issue. It's how you track what your fund investment is worth.

When you buy or sell fund units, you transact at the NAV. It updates as the fund's holdings rise and fall in value. A rising NAV means your investment is growing.

In Pakistan: AMCs publish daily NAVs, and MUFAP lists them for every fund.

Example (PKR): if a fund's NAV is Rs 110 and you invest Rs 11,000, you receive 100 units. If the NAV later rises to Rs 121, your holding is worth Rs 12,100.

Don't confuse it with: a company's share price, or a dividend (a cash payout).

Related terms: Mutual fund · SECP
Where you'll meet this: Mutual funds vs stocks