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of <h1>Daily NAV calculation for mutual fund schemes required by board-prescribed valuation norms, mandating formulaic valuation and reporting</h1> Every asset management company is required to compute the Net Asset Value of each scheme daily by dividing the scheme's net assets, determined in accordance with the valuation norms specified by the Board, by the number of units outstanding on the date of valuation; this prescription fixes a daily valuation methodology and frequency, thereby making NAV determination and reporting an obligatory, formula-driven process tied to Board-prescribed valuation norms.
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