Question
Evaluate the following statements about mutual funds in India: I. Net Asset Value (NA
- V = (Total Assets of the scheme minus Liabilities) divided by Total Number of Units Outstanding, and SEBI mandates that NAV be declared at least once every business day for open-ended schemes. II. In a close-ended mutual fund, investors can purchase and redeem units directly from the fund house on any business day at the prevailing NAV, similar to an open-ended fund. Which of the above is/are correct?
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