Constant net asset value

(CNAV).

A constant net asset value per share money market fund.

A money market fund which aims to maintain its distributing shares at a ‘constant’ value of for example USD 1, EUR 1 or GBP 1, by using an amortised cost basis of accounting for the value of its underlying portfolio of money market instruments.

See also

• Amortised cost
• Money management
• Money market fund
• Variable net asset value
• Money market fund reform: a light at the end of the tunnel?