Given a mutual fund, where can I find its AUM (assets under management)?
I am seeing a number on its page called "Total asset value". Is that the AUM? I don't think it is, because the number seems too low, and if its AUM, why wouldn't they call it AUM?
I also looked at the balance sheet of the fund, and looked up the value of assets, but that is wrong too.
What is AUM even? I thought it was the total value of the portfolio. After all, that's the assets you are managing, no? The internet definition says its what people have "invested into the fund", but I don't understand why the two should be different? The portfolio is made up of those investments, so the value of the portfolio = assets under management. Or what?