The market value of the securities that a mutual fund has purchased minus any liabilities is called

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The net asset value (NAV) is the market value of a mutual fund's assets minus any liabilities, divided by the number of outstanding shares. This is the value at which investors buy and sell shares in the mutual fund. The book value is the value of the mutual fund's assets according to its accounting records, and may differ from the market value. Gross asset value and fund net worth are not commonly used terms in relation to mutual funds.

The Market Value of the Securities That a Mutual Fund