While the closing of the hedge fund at Dillon Read was due to the difficulty in valuing subprime mortgage-backed holdings, the problem of fair valuation is permeating a wide number of other hedge funds and mutual funds, The Wall Street Journal reports.

In fact, the prices for far less than half of securities traded on exchanges are readily available, according to Daniel Harris, an analyst with Goldman Sachs.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.