NAV & IDCW

Disclosure of Net Asset Value (NAV) and sale / repurchase prices

NAV is the scheme’s asset less its liabilities per unit. NAV is calculated in the manner described in the Scheme Information Document or as may be prescribed by the SEBI (MF) Regulations from time to time.

The price or NAV a unitholder is charged while investing in a scheme is called subscription / sale price. “Applicable NAV” of the Business Day on which the application is time stamped and subject to realisation of funds before the cut off time is used for allotting units.

Repurchase or redemption price is the price or NAV at which a scheme purchases or redeems its units from the unitholders. “Applicable NAV” of the Business Day on which the application is time stamped is used for redeeming units. It may include exit load, if applicable. The exit load shall be charged as a percentage of Net Assets Value (NAV) i.e. applicable load as a percentage of NAV will be deducted from the “Applicable NAV” to calculate repurchase price.

To further elaborate,

• Sale / Subscription Price = Applicable NAV (for respective plan and option of the scheme).
• Repurchase / Redemption Price = Applicable NAV (for respective plan and option of the scheme) x (1 – Exit Load, if any).

For example, if the Applicable NAV of the scheme is Rs. 15 and the Exit Load applicable at the time of investment is 1% if redeemed before completion of 1 year from the date of allotment of units and the Unitholder redeems units before completion of 1 year, then the repurchase / redemption price will be:
= Rs. 15*(1-0.01)
= Rs. 14.8500

The AMC/Trustee reserves the right to change / modify the Load structure of the Scheme, subject to maximum limits as prescribed under the Regulations. However, the Redemption Price of an open ended scheme will not be lower than 95% of the NAV or as permitted / prescribed under the SEBI Regulations from time to time.