At the end of every working day (when markets close), NAV is updated. Mutual funds update the NAV at the end of each day. SEBI requires mutual funds to update their NAV every day by 9 p.m. Most mutual funds have their own schedule for updating the NAV and AUM. However, they should do it before 9 p.m. The NAV is not updated in real-time due to the difficulty of continuously tracking the value of various assets owned by a mutual fund.