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What is the price that I will buy/sell a mutual fund for?

The price of a unit of a mutual fund is referred to as the NAV (‘Net Asset Value’).  The NAV is calculated by dividing the total net assets of the fund by the total number of units issued. Mutual funds typically update their NAVs at the end of the trading day and the valuation of the assets within the mutual fund are then based on the closing market prices of the fund’s securities.

The NAVs published on the MeDirect website for a mutual fund is hence backward looking, and does not act as an indication of the NAV for the following trading day.

Trading in mutual funds is always done on a ‘Forward Pricing’ methodology. Mutual funds transacted during the trading day will receive the end of day NAV as their transaction price. Mutual funds transacted after the market’s close will receive the next day’s forward price. With forward pricing, a mutual fund transaction cannot take place at a previous NAV. It’s price can only be based on a value determined after receipt of an order.

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We strive to ensure a streamlined account opening process, via a structured and clear set of requirements and personalised assistance during the initial communication stages. If you are interested in opening a corporate account with MeDirect, please complete an Account Opening Information Questionnaire and send it to corporate@medirect.com.mt.

For a comprehensive list of documentation required to open a corporate account please contact us by email at corporate@medirect.com.mt or by phone on (+356) 2557 4444.