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 sharest Stock Number of Price on Shares held 31 Dec, 2018 5000 2.2. A B 6400 3.1 3000 1.3 2400 4.5 Expenses during the year 2018 are estimated to be 1500 Rials. Calculate the NAV? Can we say that investors who purchased units of Oryx MF on 15 Jan, 2018. gained or lost ? Justify