INAV® (INDICATIVE NET ASSET VALUE) – THE VALUE OF YOUR ETFS AND INVESTMENT FUNDS. ANY TIME. IN REAL TIME.
Deutsche Börse’s iNAV® calculation service offers every market participant a detailed snapshot of their fund assets at any time. It calculates the iNAV® values of exchange traded funds (ETFs) listed on national or international stock exchanges on an ongoing basis on behalf of issuers.
The iNAV® value of a fund unit is calculated by dividing the fund assets by the number of units in circulation. The calculation is based on real-time prices from the key stock markets, as well as the fund composition, which is updated on a daily basis.
The iNAV® service is not limited to index-based funds, iNAVs can also be calculated for investment funds, hedge funds, insurance portfolios and every individual portfolio in every asset class and every currency. iNAV® calculation creates transparency and enables comparability. They can be used in a variety of ways, ranging from monitoring calculation by market makers during trading and price determination for fund units, through supporting risk management for institutional investors, to providing support for private investors in their purchasing decisions.
Deutsche Börse currently calculates iNAV® for iShares plc,Credit Suisse, HSBC, Deutsche Bank AG, Barclays Deutschland AG, Lyxor Asset Management S.A. and PowerShares Exchange Traded Funds, among others. iNAV® values are calculated for numerous Xetra funds, including Index Trackers (ETFs), and actively-managed funds (Xetra Active Funds).
They include funds on national indices such as DAX®, DivDAX® and eb.rexx® Government Germany, as well as on Dow Jones China Offshore 50SM, iBoxx® € Liquid Sovereigns, Jim Rogers International Commodity Index® and EURO STOXX 50®.
iNAV® calculations can be performed on any ECB TARGET calendar day between 1 a.m. and 10.15 p.m. CET with calculation intervals of one second, 15 seconds or 60 seconds.
The iNAV® values are disseminated via CEF® Core in the information product „Deutsche Börse indices and Xetra® ETF” or via all information providers. They are also displayed on Xetra® trading screens and the Deutsche Börse website.
