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As stipulated by IRDAI effective August 18, 2011 The Insurance Regulatory development authority of India (IRDAI), in its circular dated July 29, 2011 stipulated that the formula for computation of the Net Asset Value Per Unit (NAV) for Linked funds stands modified.
Market value of the investment plus / (minus) expenses incurred in the purchase / (sale) of assets plus current assets and accrued interest (net of fund management charges) less current liabilities and provisions, divided by, number of units outstanding under the fund at valuation date (before creation / redemption of units).
Market value of the investment held by the fund plus value of current assets less value of current liabilities and provisions, if any and divided by the number of units existing on the valuation date (before creation/redemption of units)
