Intraday net asset value of the fund (iNAV) is the difference relation between the cost of all assets constituting the exchange-traded fund, and the size of all obligations which are subject to execution at the expense of the specified assets, to quantity of the issued units of the exchange-traded fund estimated at the time of determination of the unit price. It is calculated based on market price of the assets.
iNAV is calculated on the basis of an agreement with the asset management company that manages the exchange-traded mutual investment fund in accordance with Bank of Russia Instruction Bank of Russia Ordinance No. 4713-U, dated 31 January 2018 "On the requirements for the rules to determine and disclose the intraday net asset value of the fund (iNAV), which rules are set forth in an agreement serving the basis for the admission of such investments units of the exchange-traded mutual investment fund to organized trading".
|Time of calculation (Moscow time)||From 10:00 to 18:50|
|Publication intervals||Every 15 seconds|
|First calculated on||February 7th, 2019|
We draw the attention of investors that the iNAV for a fund with foreign assets will be calculated based on the closing prices of the assets, set on the previous day at 16:00 EST for American securities and at 17:30 CET for European securities. The settlement price determined on the basis of the results of the previous trading day may not coincide with the current fair value of the fund unit at the time of its provision, investors should take this fact into account when making investment decisions.