Assets Shares Debentures Money Market Instruments Accrued Income Other Current Assets Deferred Revenue Expenditure

Rs. Crore 345 23 12 2.3 1.2 4.2

Liabilities Unit Capital Reserves and Surplus Accrued Expenditure Other Current Liabilities

Rs. Crore 300 85.7 1.5 0.5

387.7 Units Issued (Crore) Face Value (Rs.) Net Assets (Rs.) 30 10 385.7

387.7

Net Asset Value (Rs.)

12.86

The above table shows a typical scheme balance sheet. Investments are shown under the assets column. Adding all assets gives the total of Rs. 387.7 crores. From this if we deduct the liabilities of 2 crores i.e. accrued expenditure + other current liabilities; we get 385.7 Crores of Net assets scheme.
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The scheme has issued 30 crores units @ Rs. 10 each during the New fund offerings. This translates in Rs. 300 crores being earned by the scheme. This is represented by Unit Capital in the Balance Sheet. Thus, as of now the net assets worth of Rs. 385.7 crores are to be divided amongst 30 crore units. This means the scheme has a Net Asset Value or NAV of Rs. 12.86. NAV per share is the value of one share in the mutual fund, and it is the number that is quoted in newspapers.