Daily Valuations. The Administrator shall value the investment portfolio of each series once each day, as of the close of the New York Stock Exchange (currently 3:00 p.m. Des Moines time). Valuations will be made on an amortized cash basis. Except for Federal holidays and other holidays that are officially observed by commercial banks in Iowa, the Trust is required to compute the net asset value of each series on each day the New York Stock Exchange is open for trading or during which there is a sufficient degree of trading in its portfolio securities that its net asset value may be materially affected. Valuations shall be recorded by the Administrator. Reports shall be confirmed in writing, at the end of each month.
Appears in 5 contracts
Samples: Administrator Agreement (Iowa Public Agency Investment Trust), Administrator Agreement (Iowa Public Agency Investment Trust), Administrator Agreement (Iowa Public Agency Investment Trust)
