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The task of the Fund Accountant in a mutual fund is to
A{'text': 'Market the mutual fund schemes to investors', 'label': 'A'}
B{'text': 'Calculate the NAV of each scheme', 'label': 'B'}
C{'text': 'Custodianship of scheme assets', 'label': 'C'}
D{'text': 'Sign the Trust Deed on behalf of the Sponsor', 'label': 'D'}
Answer & Solution
Correct answer: B. {'text': 'Calculate the NAV of each scheme', 'label': 'B'}
1. The Fund Accountant calculates the daily NAV of each scheme.
2. This is done by collecting each scheme's asset and liability information.
3. The AMC may perform this in-house or outsource it to a service provider.
4. SEBI does not require the Fund Accountant to be separately registered.
_Source: NISM Series V-A: Mutual Fund Distributors Workbook (Dec 2019), Ch 3 "Legal Structure of Mutual Funds in India", §3.4.1_
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