The military coup that took place in Pakistan on Oct. 9, closing the Kurachi Stock Exchange for one day, caused minimal disruption in the pricing of securities among U.S. fund managers.

As a result of the coup and the market shutdown, Morgan Stanley Dean Witter of New York used fair value pricing on just that one trading day for the three funds it runs that hold securities in Pakistan, said Robert Meyer, managing director for Morgan Stanley. Since the coup, the Pakistani market has stabilized, so the disruption has been minimal, he said.

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.