Oryx Mutual Fund started operations on 1st January 2018 with 50,000 Rials by selling units at 2 Rial each. On 31st December Oryx fund is holding the following shares: Stock Number of Price on Shares held 31 Dec, 2018 5000 2.2 B 6400 3.1 C 3000 1.3 2400 4.5 Expenses during the year 2018 are estimated to be 2000 Rials. Calculate Net Asset Value ? Can we say that investors who purchased units of Oryx MF on 1st Jan, 2018 gained or lost ? Justify