Markit, a specialist in valuations and post-trade processing for swaps and other non-exchange traded products, has launched a service to help US mutual funds and other institutional investors find a fair value for their bonds.
Markit Fair Value is designed to help mutual funds comply with the Investment Company Act which requires them to calculate their net asset value using an estimated “fair value” of securities when a market quotation is not readily available, according to the firm. That occurs when a security’s primary market is closed .
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