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Mutual Fund Basics · Shuruaati · 6 min read

Mutual Fund Mein NAV Kya Hai?

Chhota jawab

NAV, ya Net Asset Value, kisi mutual fund scheme ki per-unit keemat hai: scheme ke paas jo kuch hai uski market value, uski liabilities ghatakar, baaki bachi units ki sankhya se bhaag dene par milti hai. Yeh aam taur par har business day ke end mein ek baar declare hota hai, kisi share ki keemat ki tarah lagatar nahi. ₹12 ke NAV wali scheme ₹600 ke NAV wali scheme se sasti nahi hai — NAV ka number apne aap mein value, quality ya future return ke baare mein kuch nahi batata.

Amit Chadha · Mutual Fund Distributor · AMFI ARN: 349461 · Aakhri review

NAV mutual fund investing mein sabse zyada galat samjha jaane wala number hai. Yeh keemat jaisa dikhta hai, isliye log sahaj roop se ise keemat jaisa hi maan lete hain — "kam NAV" wale fund ko usi tarah dhoondte hain jaise kisi saste share ko dhoondte.

Yeh sahaj soch galat hai, aur yeh kyun galat hai, ise theek se samajhna zaroori hai, kyunki yeh aapko galat faislon ke poore parivaar se bachata hai.

NAV Asal Mein Kya Naapta Hai

Kisi scheme ke paas securities ka ek portfolio hota hai. Uske paas jo kuch hai uski market value jodiye, koi cash aur receivables jodiye, scheme ki liabilities aur accrued expenses ghataiye, to aapko net assets milte hain. Ise baaki bachi units ki sankhya se bhaag dijiye to aapko per-unit Net Asset Value milti hai.

Matlab NAV ek result hai, input nahi. Yeh din ke end mein portfolio ki value ka arithmetic result hai, jo jitni bhi units maujood hain unmein bata hota hai.

Kam NAV Se Fund Sasta Kyun Nahi Ho Jaata

Do schemes socho jo bilkul ek jaisa portfolio, bilkul ek jaise proportion mein rakhti hain. Ek 2005 mein launch hui aur uska NAV badhkar ₹600 ho gaya hai. Doosri pichhle mahine standard ₹10 par launch hui aur abhi ₹10.40 par hai. Kaun-si sasti hai?

Koi nahi. Agar dono portfolio 10% badhein, to dono ke NAV 10% badhenge, aur dono investors ko 10% fayda hoga. Pehli mein ₹10,000 lagane par oonche NAV par kam units milti hain; doosri mein ₹10,000 lagane par kam NAV par zyada units milti hain. Aapki holding ki rupee value barabar hai, aur aapka return bhi.

NAV ka number yeh batata hai ki scheme kitne samay se maujood hai aur tab se kya hua hai — yeh nahi ki aaj iski keemat kitni attractive hai. Kisi share ki keemat ki tulna earnings ya book value se karke valuation ke baare mein kuch kaha ja sakta hai. NAV ke saath aisa nahi ho sakta, kyunki mutual fund ki units hamesha underlying portfolio ki value par hi create aur redeem hoti hain.

NAV Kab Declare Hota Hai

Open-ended schemes aam taur par har business day ke end mein NAV declare karti hain, market band hone aur portfolio ka valuation ho paane ke baad. Yeh kisi share se alag hai, jiski poore trading session mein live keemat rehti hai, aur kisi ETF se bhi alag hai, jiski units exchange par market price par trade hoti hain jo uske underlying NAV se thodi alag ho sakti hai.

Chunki NAV din mein ek baar aane wala number hai, aap din ke bheetar mutual fund ki khareed ka time tay nahi kar sakte. Transaction karte waqt aapko pata nahi hota ki aapko kaun-sa NAV milega.

Aapke Transaction Par Kaun-Sa NAV Lagu Hota Hai

Aapko jo NAV milta hai wo SEBI ke tay kiye gaye applicable NAV rules par depend karta hai, jo isi par tike hain ki aapka application kab mila aur — yeh zaroori baat hai — paisa scheme ko asal mein kab mila, sirf yeh nahi ki aapne confirm kab dabaya.

Practical nateeja yeh hai ki din mein der se kiya gaya transaction, ya jisme paisa agle din clear hota hai, aapki soch se alag din ke NAV par process ho sakta hai. Sahi cut-off aur realisation ke rules AMC aur RTA publish karte hain; kuch saal pehle jo tareeka tha usi par bharosa karne ke bajaye current rules dekhiye.

NAV Aapko Kya Nahi Batata

NAV yeh nahi batata ki koi scheme achhi tarah managed hai ya nahi, uska risk aapke liye theek hai ya nahi, use rakhne mein kitna kharch aata hai, ya wo aage kya karegi. In sawaalon ke jawab scheme ke mandate, portfolio, risk disclosures aur expense ratio mein milte hain.

NAV ki ek sacchi kaam ki baat yeh hai ki yeh aapko apni holding track karne deta hai: units gunaa NAV aapke investment ki current value hai, aur aapki holding period mein NAV mein badlaav hi aapke fayde ya nuksan ka source hai.

Mukhya baatein

  • NAV = (holdings ki market value + receivables − liabilities) ÷ outstanding units.
  • Yeh aam taur par har business day mein ek baar, market band hone ke baad declare hota hai.
  • Kam NAV se scheme sasti nahi ho jaati; ek jaisa portfolio kisi bhi NAV par ek jaisa percentage return deta hai.
  • NAV tay hone se pehle hi expenses ghata diye jaate hain, isliye jo NAV aap dekhte hain wo unke baad ka hi hai.
  • Kis din ka NAV lagu hoga yeh SEBI ke applicable-NAV rules par depend karta hai, jisme yeh bhi shamil hai ki paisa kab realise hua.

Apne numbers par aazmaiye

Aksar pooche jaane wale sawaal

Sources aur editorial review

Aage kya padhein

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Sirf educational content. Investment advice nahi.

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