Archive · 13 Aug 2026
NAV lag: why your mutual fund platform and CAS values differ
Sometimes the value of your mutual fund investments looks different on different apps or statements.
That does not mean your money is missing or that a mistake was made.
You still own the same number of units of the fund.
The difference usually happens because the apps use the fund's price from different days.
The price of one unit of a mutual fund is called the NAV.
The NAV is announced only after the stock market closes, sometimes very late at night.
Different platforms update this price at different times, so one might show an older price.
A statement called the CAS combines your fund and demat account information using your PAN.
So if two reports show different values, it is likely just a timing difference, not an error.
Mutual fund values shown on broker or wealth-management platforms can differ from values in the Consolidated Account Statement (CAS).
The difference usually stems from platforms using Net Asset Value (NAV) data from different dates, not an error in holdings.
A CAS consolidates an investor's mutual fund and demat account transactions using their Permanent Account Number (PAN).
Zerodha states its Console mutual fund value is based on the T-2 days NAV because AMCs often declare NAV late at night after the trading day.
NAV declaration timing varies by scheme: equity schemes by about 9 PM, liquid schemes by about 11 PM, and international schemes via a Bhav copy by 3 PM on T+1 day.
- Who
- Mutual fund investors comparing their holdings across broker platforms and Consolidated Account Statements, along with platforms such as Zerodha and industry body AMFI.
- What
- Mutual fund holding values displayed on platforms may differ from CAS values because of NAV timing differences.
- When
- An ongoing situation; NAVs are typically declared after the trading day ends, and AMFI data updates by midnight or as late as 3-4 AM the next day.
- Where
- India, involving PAN-based statements issued by depositories NSDL or CDSL.
- Why
- Platforms like Zerodha use T-2 days NAV data, while investors may expect current-day values, causing apparent mismatches.
- CAS
- Consolidated Account Statement of mutual fund and demat account transactions
- Consolidation basis
- Investor's Permanent Account Number (PAN)
- CAS issuers
- Depositories NSDL or CDSL when PAN is common across registrars and depositories
- Zerodha Console NAV
- Based on T-2 days NAV
- Equity scheme NAV timing
- Announced by around 9 PM on the trading day
- Liquid scheme NAV timing
- Announced by around 11 PM
- AMFI data update
- By midnight or as late as 3-4 AM on T+1 day
- International schemes
- Bhav copy generated by T+1 day at 3 PM