# Net Asset Value (NAV)
**What is NAV?**
NAV stands for **Net Asset Value**. It's a key concept in understanding the value of an investment fund, like the Prime Funds offered by Immutable Vision. In simpler terms, NAV represents the **total value of all the assets** held by the fund, minus its performance fees, divided by the total number of outstanding shares.
**NAV and Price Volatility:**
Since Prime Funds include many cryptocurrencies, their NAV is susceptible to price volatility in the crypto market. A sudden drop in the price of for eg: Ethereum, Cardano or Injective could decrease the fund's NAV.
**Remember:**
Diversification helps mitigate risk, but it doesn't eliminate it completely. The NAV of Prime Funds will still fluctuate based on the performance of the underlying assets.
**NAV Example**
Below is an eg of the NAV on Prime Fund I reaching a peak of $3.11 per share on 14th March
Prime Fund I
**Example:**
Demonstration Purposes Prime Fund I holds:
* $1000 worth of Ethereum
* $1000 worth of Solana
* $1000 worth of Near
The total value of the fund's holdings would be £3000 (assuming no other assets). If the price of Ethereum increases by 10%, the total value would also increase, impacting the NAV per share
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