A PricewaterhouseCoopers survey of more than 50 leading money managers showed progress being made in establishing and strengthening governance processes for valuing securities in their investment portfolios.
The survey showed all traditional funds already have valuation committees, with almost half of the total overseeing the valuation of all asset classes in their portfolios, as opposed to just illiquid or fair-valued securities.
Ninety-four percent of alternative funds have valuation committees, with 74% of hedge funds and 60% of private equity funds reporting that their CFO sits on the committee.
Among real estate funds, 88% have a valuation committee in place. For private equity funds, the figure is 60%, with another 10% reporting they are considering establishing one.
