Net asset value

Known colloquially as the “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 money borrowed by the fund to 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.

See also

• NAV trigger
• Hedge fund
• Leverage
• Greeks