Hedge Funds

Securities valuation guide issued by IAFE

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An industry trade group made up of investment managers, their clients and their counter parties has produced a white paper aimed at assisting investors in understanding - and questioning -- their investment managers' valuation practices.

Actually a revision of a document first issued by the International Association of Financial Engineers' Investor Risk Committee last November, the white paper contains case studies and a series of principles that were not included in the earlier version. The previous edition sought to aid investor due diligence through some 300 questions that should be considered in weighing an investment manager's valuation process.