NAV vs Total Equity
In a lot of the work I've been doing (crossing lines between funds and other firms) I've come across NAV as opposed to Total Equity. It would be great if someone could clarify why Funds tend to use NAV, and what the difference between the two is. My guess is that there is some difference in the way funds account for liabilities, but I'm just shooting in the dark. Appreciate all the help.
*Thanks for the responses guys, I checked in with our accounting group and got it sorted out. See you all in another post.
NAV = Total Equity - Total Liabilities
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