Valuation of mutual funds

NAV basis for valuation

As per IFRS- investment in mutual funds is a financial asset. The recognition, measurement and presentation of a financial asset is based on its classification either as held to maturity, fair value through profit or loss, loans and receivables and availab for sale financial assets.

The above classification depends on the management judgement. So please clarify what is the management intention to hold these investments then we can discuss its initial recognition and subsequent measurement.