Accrued interest
The interest earned on a gilt since the last dividend date. When buying a gilt, the buyer pays the accrued interest at the time of a transaction to the seller in addition to the clean price of the gilt
Mutual funds and investment trusts are priced on their net asset value (NAV).
Mutual funds and investment trusts are priced on their net asset value (NAV).
- Total assets include the market value of all the securities in the portfolio, cash, and accrued income
- Total liabilities include expenses, management fees, and other obligations
- Outstanding shares is the number of units (for mutual funds) or shares (for investment trusts) investors currently hold
NAV looks at the closing prices of the underlying securities each day.
NAV is not always the same thing as price, though. It is used to determine the value of the mutual fund or investment trust, but the trade price could be different because the units may trade at a premium (higher than the NAV) or a discount (lower than the NAV).
It’s important to remember that while NAV is used as a tool to determine price, it doesn't directly indicate the fund’s performance. Total return, which includes capital gains, dividends, interest, and realised distributions, , is a better performance metric.