Indicative Net Asset Value (or iNAV) definition

Indicative Net Asset Value (or iNAV) means, in respect of a Component ETF, the indicative per- share value. This is usually calculated by dividing the total value of all the securities in the Exchange Traded Fund’s portfolio, less any liabilities, by the number of fund shares outstanding. Moreover, this is usually calculated before the NAV is calculated and may be different to the NAV.
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