What is the meaning of '% Net Asset' in a MF scheme?

Total asset is total assets under Management , i.e the investments made by investor.

Net asset = Total/Gross Assets - redemmable assets

redemmable assets are assets for which redemption requests have been received.

NET asset % = net asset/total/gross asset

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Can you please give a context to this, maybe a link on where you came acorss this term.