Independence at centre of valuation

Global Fund Administration Management Report

cover-fund-administration-april-2010

Independent valuation tops the list of concerns for administrators when they calculate net asset value (NAV). This activity brings with it a number of challenges, particularly if the valuations concern over-the-counter (OTC), hard-to-value or illiquid securities.

According to Liam McNiffe at Bank of Ireland Securities Services, independent verification of a fund’s NAV is the administrator’s primary function. “Challenges can arise where the administrator cannot use its usual sources to value some

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