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Grandeur Peak NAVs

What's up with Grandeur Peak's increasingly frequent inability to report NAVs in a timely manner?

Comments

  • Could simply be that fair value pricing is more difficult these days for foreign holdings, especially small caps.

    https://www.morningstar.com/articles/374934/fair-value-pricing-isnt-always-fair-but-its-needed
  • sfnative said:

    What's up with Grandeur Peak's increasingly frequent inability to report NAVs in a timely manner?

    What is your definition of "timely manner"?
  • edited March 8
    Typical funds report their NAVs when the underlying security’s prices obtained and calculated after the market closes. In today’s digital world, this takes several hours to post online the NAVs and their yield to date return in percentages. I too notice oversea funds, particular smaller cap funds, tend to be late, sometime 24 hours or more. @msf explained the root causes well above.

    In 2008 GFC, many bond prices underwent free fall and frozen at market closes. I recalled Loomis Sayles bond fund went down several folds more than those of core bond funds. Dan Fuss, the fund manager explained later that they entered their estimated fair market value of the frozen bonds (as mark-to-market price). I owned a small % of LS bond and it took several years to fully recover at which I sold the fund.
  • All correct. On volatile days it is going to be much harder to price microcap foreign stocks in U.S. traded mutual funds in U.S. time zones.
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