Valuation process

Calculating an accurate NAV for certain hedge fund strategies is not as straightforward a process as some may believe

In the view of most investors, the primary function of the administrator of a hedge fund is to produce an accurate net asset value (NAV) promptly, which means as soon as possible after the valuation date.

For many funds that deal in liquid exchange traded securities, this presents no problem, although for funds that invest in complex derivative instruments, or illiquid investments, it is not so easy to get independent, accurate prices.

Having said that, problems can occur when, for example, the

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