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{{ | {{a|pb|}}Known colloquially as “[[NAV]]”, [[net asset value]] is the value of an [[investment fund]] from the investor’s perspective. Generally assets minus liabilities: assets being the investments your [[investment manager]] has put you into; liabilities usually taking the shape of [[borrowed money|money borrowed]] by the fund to [[Leverage|lever]] up your investment, which you have to pay back first — your name is [[Vega]], and you live on the second floor — and any [[unfunded]] investments (like [[swaps]]) that happen to be under water for the time being. | ||
===[[NAV per share]] versus [[outright NAV]]=== | ===[[NAV per share]] versus [[outright NAV]]=== |