1. A mutual fund's NAV represents the market value of all its investments.
2. Any capital appreciation will depend on the price movement of its underlying securities.
3. A fund's current NAV could be higher because it may have been around longer.
4. It could also have bought the appreciated underlying security much earlier or at a cheaper price.
5. These factors could have themselves led to a higher NAV at that time.
2. Any capital appreciation will depend on the price movement of its underlying securities.
3. A fund's current NAV could be higher because it may have been around longer.
4. It could also have bought the appreciated underlying security much earlier or at a cheaper price.
5. These factors could have themselves led to a higher NAV at that time.