Net asset value
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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.