Independence at centre of valuation

Global Fund Administration Management Report


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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