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Investment advice and corporate finance
Module 12Investment Management and Corporate FinanceAn ETF holds assets worth RM105.2 million and has liabilities of RM0.2 million. There are 50 million units in issue. What is its net asset value per unit?
NAV per unit = (assets − liabilities) ÷ units = (105.2 − 0.2) ÷ 50 = 105.0 ÷ 50 = RM2.10. RM2.104 ignores the liabilities (105.2 ÷ 50). RM2.00 divides by an incorrect unit count. A premium is the gap between market price and NAV; NAV itself has no premium. Source: SIDC Module 7 Study Outline (Jul-Dec 2026) Topic 7 Exchange-traded Funds (as at October 2026).
Forgetting to deduct liabilities.
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