Valuation of the Portfolio – 2008-09-08
Valuation of the Portfolio
The portfolios of the company’s active asset management customers are valued once a month. The reason for valuing the portfolios only once a month is that a great percentage of the underlying hedge funds in which we invest are only valued once a month.
For Smedvig QIF plc., the Custodian and Administrator in Ireland is charged with preparing a correct valuation of the sub-funds by determining an official Net Asset Value (NAV). All transactions in Smedvig QIF are executed at the official NAV, and the official NAV is applied in the valuation of the customer portfolios that are invested in Smedvig QIF plc. The NAV is calculated on the first day of each month.
The company follows up and checks the calculation of the official NAV for Smedvig QIF plc. on a monthly basis.