alleryStart learning →The task of the Fund Accountant in a mutual fund is to
AMarket the mutual fund schemes to investors
BCalculate the NAV of each scheme
CCustodianship of scheme assets
DSign the Trust Deed on behalf of the Sponsor
Answer & Solution
Correct answer: B. Calculate the NAV of each scheme
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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