Fondsverdi

Fondsverdi, or fund value, refers to the value of a fund’s assets after liabilities are deducted. It is most commonly expressed as the net asset value (NAV) per unit or share and is a central metric for open-end investment funds such as mutual funds and index funds. The term is used in several Nordic languages and is closely related to the concept of andelsverdi, the value per unit held by investors.

Calculation and components. The fund’s NAV is calculated as the total market value of all assets (stocks, bonds, cash, derivatives, accrued income) minus liabilities, divided by the number of outstanding shares or units. For funds facing inflows or outflows, the NAV is adjusted to reflect new subscriptions or redemptions. When a fund holds foreign assets, currency movements can affect the NAV. Distributions to investors (dividends or interest) typically reduce the NAV by the amount distributed.

Pricing and trading. Open-end funds typically transact at their NAV, calculated and published daily or after market close. Investors buy and redeem shares at this price. Closed-end funds trade on stock exchanges at market prices that may be above or below their NAV. Some funds publish intraday or multiple-class NAVs, reflecting different fee structures or share classes.

Influencing factors and usage. Fondsverdi is influenced by movements in asset prices, interest rates, currency exchange rates, and fund expenses. It serves as a basis for determining purchase and redemption prices, assessing fund size and performance potential, and comparing funds. Investors and analysts look at NAV per share to gauge value relative to the fund’s holdings and fees.