Mirae Asset Cash Management Fund Direct Plan Growth Net Asset Value

NAV details of Mirae Asset Cash Management Fund Direct Plan Growth:

Mirae Asset Cash Management Fund Direct Plan Growth NAV Today(30.09.2022)
₹2297.94
Exit Load
0.01%

How was the NAV for Mirae Asset Cash Management Fund Direct Plan Growth arrived at?

The Net Asset Value is the per share market value of a mutual fund scheme. It is obtained by dividing the difference between the firm's total assets and liabilities by the number of outstanding units in the fund.

Mirae Asset Cash Management Fund Direct Plan Growth NAV calculation:

NAV: (Assets - Liabilities)/ Total Number of Outstanding Units

Mirae Asset Cash Management Fund Direct Plan Growth NAV History

Mirae Asset Cash Management Fund Direct Plan Growth NAV Monthly History

Month
Open(₹)
Close(₹)
January
2227.15
2233.84
February
2233.84
2240.04
March
2240.04
2247.06
April
2247.06
2253.94
May
2253.94
2261.72
June
2261.72
2270.62
July
2270.62
2279.63
August
2279.63
2290.17
September
2290.17
-
Month
Open(₹)
Close(₹)
January
2154.05
2159.71
February
2159.71
2165.25
March
2165.25
2171.44
April
2171.44
2177.34
May
2177.34
2183.6
June
2183.6
2189.87
July
2189.87
2196.16
August
2196.16
2202.6
September
2202.6
2208.16
October
2208.16
2214.11
November
2214.11
2220.75
December
2220.75
2227.15
Month
Open(₹)
Close(₹)
January
2065.46
2074.26
February
2074.26
2083.25
March
2083.25
2094.62
April
2094.62
2102.97
May
2102.97
2111.88
June
2111.88
2118.6
July
2118.6
2123.98
August
2123.98
2130.37
September
2130.37
2136.36
October
2136.36
2142.38
November
2142.38
2148.13
December
2148.13
2154.05
Month
Open(₹)
Close(₹)
January
1936.81
1948.14
February
1948.14
1959.04
March
1959.04
1971.89
April
1971.89
1983.55
May
1983.55
1995.07
June
1995.07
2006.71
July
2006.71
2018.18
August
2018.18
2027.76
September
2027.76
2037.75
October
2037.75
2047.31
November
2047.31
2056.47
December
2056.47
2065.46
Month
Open(₹)
Close(₹)
January
1802.48
1812.63
February
1812.63
1821.94
March
1821.94
1832.32
April
1832.32
1844.33
May
1844.33
1855.18
June
1855.18
1866.85
July
1866.85
1878.53
August
1878.53
1889.51
September
1889.51
1901.03
October
1901.03
1913.1
November
1913.1
1924.62
December
1924.62
1936.81
Month
Open(₹)
Close(₹)
January
1689.45
1698.74
February
1698.74
1706.95
March
1706.95
1715.98
April
1715.98
1725.18
May
1725.18
1734.84
June
1734.84
1744.06
July
1744.06
1754.13
August
1754.13
1763.86
September
1763.86
1772.7
October
1772.7
1783.06
November
1783.06
1792.21
December
1792.21
1802.48
Month
Open(₹)
Close(₹)
January
1573.46
1583.29
February
1583.29
1592.57
March
1592.57
1602.95
April
1602.95
1613.81
May
1613.81
1623.96
June
1623.96
1633.8
July
1633.8
1643.55
August
1643.55
1652.97
September
1652.97
1661.69
October
1661.69
1671.37
November
1671.37
1680.36
December
1680.36
1689.45
Month
Open(₹)
Close(₹)
January
1454.18
1464.3
February
1464.3
1473.41
March
1473.41
1483.83
April
1483.83
1494.3
May
1494.3
1504.83
June
1504.83
1514.89
July
1514.89
1524.69
August
1524.69
1534.94
September
1534.94
1544.45
October
1544.45
1554.54
November
1554.54
1563.84
December
1563.84
1573.46
Month
Open(₹)
Close(₹)
January
1334.78
1344.02
February
1344.02
1352.61
March
1352.61
1363.46
April
1363.46
1373.75
May
1373.75
1384.06
June
1384.06
1393.8
July
1393.8
1403.75
August
1403.75
1413.91
September
1413.91
1423.94
October
1423.94
1433.9
November
1433.9
1444.08
December
1444.08
1454.18
Month
Open(₹)
Close(₹)
January
1232.34
1239.83
February
1239.83
1246.9
March
1246.9
1255.41
April
1255.41
1262.53
May
1262.53
1269.64
June
1269.64
1276.9
July
1276.9
1285.05
August
1285.05
1295.7
September
1295.7
1306.12
October
1306.12
1316.02
November
1316.02
1325.2
December
1325.2
1334.78

What does Mirae Asset Cash Management Fund Direct Plan Growth’s NAV mean to investors?

It is a common misnomer that a low NAV implies a better investment. In fact, you would have come across several mutual fund schemes that promote their funds with a low NAV as “cheaper” compared to others. The NAV of a mutual fund is unlike the share price of a stock where stocks with lower values and high growth potential are considered lucrative. When we talk of NAV, it is essentially just the current book value of all the assets minus the liabilities of a particular scheme. The following example can help make things clearer:

Let’s say we have two funds namely, Fund A and Fund B.

The NAV of Fund A is Rs 10 and the NAV of Fund B is Rs 100.

Now, say you have Rs 10,000 to invest in the funds. 

ParticularsFund AFund B
NAVRs 10Rs 100
Units bought (with Rs 10K investment)1000 units100 units
NAV (increases by 50%)Rs 15Rs 150
RetursRs 15,000Rs 15,000


As you can observe from the above table, the returns (Rs 15,000) remain the same irrespective of the NAVs of the funds. Hence, the common notion that funds with higher NAVs give higher returns stands null and false as proved by the above example. Your main focus must be the total returns generated by the fund while making an investment decision. The total return (CAGR) for Mirae Asset Cash Management Fund Direct Plan Growth as on 30.09.2022 is 6.61.

Check Mirae Asset Cash Management Fund Direct Plan Growth to get a detailed description of the total returns.

An Important Point to Remember

In case, any company in your mutual fund portfolio distributes dividends. It is of the mutual fund’s discretion to distribute at a particular interval. But when they do, the NAV of your fund shall decrease reflecting a decline in the total corpus of the fund. On the other hand, there are funds that do not give dividends to shareholders but reinvest them in order to buy more units. As a result the total number of outstanding units of the fund increase which shall in turn decrease the NAV of the fund.


In the case of mutual funds of the growth plan category, no dividend is paid to investors. The entire dividend amount is reinvested by the fund in buying more assets to increase the long-term gains of the fund. In this case, the NAV does not decrease.

Factors affecting the NAV of a mutual fund

Profits/ Losses from the underlying assets: The NAV of a mutual fund simply reflects the profits and losses of the underlying assets that the mutual fund has invested in. When the assets increase in their value, the NAV increases and vice versa.


Expenses regarding the management of funds: Mutual funds as you would be aware are managed by professional managers who actively invest in various assets to generate good returns. The managers charge a certain fee for doing the same. These fees are reduced from the total NAV of the fund.


The number of investors who buy and sell units: If a large number of investors book their profits by selling units of the fund at higher NAVs, the NAV shall decrease (similar to profit booking seen in stocks). On the other hand, if investors buy mutual fund units at lower NAVs, due to the rise in the number of units, the NAV drops.


Type of mutual fund: Generally, a regular mutual fund has a higher NAV compared to a direct fund. A regular fund includes broker and intermediary fees whereas a direct fund has none.


Dividend Payouts: As we had explained above, when mutual funds pay dividends, it reduces the NAV as it is akin to withdrawing money from your own investment.

FAQs

The Net Asset Value of a fund is arrived at by dividing the difference between the fund’s total assets and liabilities by the total number of outstanding units of the fund. (Assets-Liabilities)/Total Outstanding Units of the fund.

Investors must be concerned largely about the returns of a mutual fund more than the NAV. It is advised not to base any investment decision purely on the basis of the NAVs of a mutual fund as they do not suggest the future prospects of the fund. While funds with higher NAVs do suggest that the fund has been in existence for a long period of time.

As explained in the paragraph above, the NAV of a fund is simply the value of each unit of a mutual fund got by dividing the difference of total assets and liabilities of a fund by the outstanding shares. A fund with a low NAV does not mean that the fund is available at a cheaper value or vice versa. It simply means that you can purchase extra units of a fund with a lower NAV and fewer units of the same in the case of a fund with a higher NAV.

Mutual Fund Companies update the value of their funds’ NAVs on a daily basis. As per SEBI guidelines, companies have to update their NAVs by 9 PM daily.

There are various factors that affect the NAV of a fund:

  1. Profits/ Losses from the underlying assets
  2. Expenses regarding the management of funds
  3. The number of investors who buy and sell units
  4. The type of mutual fund
  5. Dividend Payouts

We have explained each of these points in the paragraph above.