The net asset value of collective investment undertakings referred to in Article 20(6)(a) of Regulation (EU) 2016/1011, shall be either of the following:
((a))
for collective investment undertakings subject to Directive 2009/65/EU of the European Parliament and of the Council 4: the net asset value per unit reported in the most recent annual or half-yearly report referred to in Article 68(2) of that Directive, multiplied by the number of units;
((b))
for collective investment undertakings subject to Directive 2011/61/EU of the European Parliament and of the Council 5: the latest available net asset value referred to in Article 104(1)(c) of Commission Delegated Regulation (EU) No 231/2013 6.