NISM-Series V-A: Mutual Fund Certification Exam Notes
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NAV = (Value of stocks + Value of bonds + Value of money market instruments + Dividend accrued but not received + Interest accrued but not received - Fees payable) / No. of outstanding units
The process of valuing each security in the investment portfolio of the scheme at its current market value is called 'mark to market' i.e. marking the securities to their market value
Investment and Advisory Fees are charged to the scheme by the AMC and are fully disclosed in the Scheme Information Document
AMC shall not charge investment and advisory fees on the segregated portfolio. However, TER (excluding the investment and advisory fees) can be charged, on a pro-rata basis only upon recovery of the investments in segregated portfolio.
The Net Asset Value (NAV) of the segregated portfolio shall be declared daily.
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