Bell Rock glossary
Net Asset Value
The value of a fund's assets less its liabilities, usually expressed per share or unit and used for subscriptions, redemptions and reporting.
Net asset value (NAV) is the value of a fund's assets less its liabilities at a given valuation point, commonly expressed on a per-share or per-unit basis. NAV drives subscription and redemption pricing, performance measurement and investor reporting. Robust NAV production depends on a clear valuation policy, appropriate pricing sources, and independent oversight; typically an independent administrator calculating NAV and a board reviewing the valuation policy. For private funds, the Private Funds Act prescribes valuation and title-verification requirements designed to protect the integrity of reported values.
Related guidance
Side Letter · Offering Memorandum
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