IOSCO released a consultation paper on its Principles for the Valuation of Hedge Fund Portfolios. The Principles describe techniques which should strengthen the valuation process thereby making it more likely that the resulting valuation is appropriate. They emphasize the importance of clear written procedures which are consistently operated and regularly reviewed, and which provide for an appropriate degree of independence to deliver effective checks and controls.
The IOSCO Principles are meant to be a practical tool that hedge fund managers and governing bodies, and those involved in the valuation process.
Deadline for consultation is 21 June 2007.
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