Portfolio Valuation. At least daily, the Investment Property Value shall be determined on a mark to market basis as follows: The Program Administrator shall determine the market value of the specific investment holdings for the Texas CLASS pool or portfolio. The market values shall be obtained from one or more sources that the Program Administrator believes to be reliable for providing such information. A credible pricing source will be used by the Program Administrator to price the underlying securities on a daily basis. Alternatively, the Investment Property Value may be determined using the amortized cost valuation method. The amortized cost valuation method involves initially valuing a security at its cost and thereafter accreting to maturity any discount or amortizing to maturity any premium, regardless of the impact of fluctuating interest rates on the market value of the instrument.
Portfolio Valuation. At least daily, the Investment Property Value shall be determined on a mark to market basis as follows: The Administrator shall determine the market value of the specific investment holdings for the FLCLASS portfolio. The market values shall be obtained from one or more sources that the Administrator believes to be reliable for providing such information. A credible pricing source will be used by the Administrator to price the underlying securities on a daily basis. Alternatively, the Investment Property Value may be determined using the amortized cost valuation method. The amortized cost valuation method involves initially valuing a security at its cost and thereafter accreting to maturity any discount or amortizing to maturity any premium, regardless of the impact of fluctuating interest rates on the market value of the instrument.
Portfolio Valuation. Portfolio securities that are primarily traded on foreign securities exchanges are generally valued at the preceding closing values of such securities on their respective exchanges, except that when an occurrence subsequent to the time a value was so established is likely to have changed such value, then a fair value of those securities will be determined by consideration of other factors under the direction of the Board of Directors. A security which is traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market on which the security is traded. Securities for which market quotations are not readily available are valued at fair value, pursuant to guidelines adopted by Excelsior Fund's Board of Directors. Investments in securities which are primarily traded on a domestic exchange are valued at the last sale price on that exchange or, if there was no recent sale, at the last current bid quotation. Investments in foreign debt securities having maturities of 60 days or less are valued at amortized cost, which approximates market value. All other foreign securities are valued at the last current bid quotation if market quotations are available, or at fair value as determined in accordance with policies established by the Board of Directors. Investment valuations, other assets and liabilities initially expressed in foreign currencies are converted each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investments and income and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions. The Portfolios do not isolate that portion of gains and losses on investment securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of such securities. The Portfolios report gains and losses on foreign currency related transactions as realized and unrealized gains and losses for financial reporting purposes, whereas such components are treated as ordinary income or loss for Federal income tax purposes.
Portfolio Valuation. In order to determine the Net Asset Value of the LP Shares, the Investments held by the Fund will be valued by the AIFM by using the valuation guidelines recommended by IPEV (International Private Equity and Venture Capital Valuation Board) and described in the International Private Equity and Venture Capital Valuation Guidelines as updated and as approved by Invest Europe. The cardinal rules for valuation are based on the notion of "fair value". The AIFM may also adopt any other valuation benchmark compliant with French accounting standards which would appear more appropriate, albeit provided that the valuation always complies with the valuation standards approved by Invest Europe. The Fund Assets include all the Investments held by the Fund, evaluated according to the criteria set above, plus its receivables, and any cash and short-term investments. The Net Assets of the Fund shall be determined by deducting any existing liabilities from the value of the Fund Assets (calculated as set forth above), it being specified that the net asset value of the shares of the Master Fund held by the Fund shall be based on the latest net asset value of such shares of the Master Fund determined in accordance with the Master Fund Prospectus.
Portfolio Valuation. Keeping you up to date with progress of your investments, this report provides you with up to date values of all of your investment plans. The report can be provided periodically on request, or annually, depending on which service you require.
Portfolio Valuation. Upon the occurrence of any Event of Termination, or at any time after five (5) Business Days prior notice to the Issuer, the Valuation Agent may at its discretion (and shall at the request of the Required Lenders or any Funding Agent) perform a Portfolio Valuation in accordance with the terms of the Valuation Agent Agreement on some or all of the Student Loans constituting a portion of the Collateral.
Portfolio Valuation. IBT shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said exchange is open for unrestricted trading and/or on such other days and/or as of such other hours, if any, as may be authorized by the Board, the net asset value and, if applicable, the yield of each Portfolio, such determination to be made in accordance with the provisions of the Declaration of Trust and By-Laws of the Trust and the Trust's registration statement(s) on Form N-1A, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force. IBT shall notify the Trust, or such other persons as the Trust may request, promptly of the results of such computation and determination. In computing the net asset value of each Portfolio hereunder, IBT may rely in good faith upon information furnished to it by an Authorized Person (as defined below) in respect of (i) the manner of accrual of the liabilities of each Portfolio and in respect of liabilities of each Portfolio not appearing on its books of account kept by IBT, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the portfolio security quotations approved by the Board for use in computing the net asset value, (iv) the value to be assigned to any security for which price quotations are not readily available, and (v) the method of computation of the net asset value. IBT shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source referred to in (iii) above. If the Trust notifies IBT that any of its accounting books, records, reports or statements are erroneous in any respect, IBT shall endeavor in a timely manner to correct such error. In addition, IBT shall determine daily the net asset value of each investor's beneficial interest (each an "Interest") in each Portfolio and shall allocate daily among the investors in each Portfolio on a pro rata basis all incremental investment activity.
Portfolio Valuation. The valuation of Fortune REIT’s 17 retail properties was appraised at HK$30,880 million by Xxxxx Xxxx LaSalle Limited (“Xxxxx Lang LaSalle”), an independent valuer, as at 30 June 2014. This represents a 5.3% increase from the valuation of HK$29,338 million as at 31 December 2013. With the capitalization rates adopted unchanged, the increase in valuation can be attributed to an overall improvement in asset performance. The higher valuation has resulted in a revaluation gain of HK$1,512.7 million for the Reporting Period. Mana ement Discussion and Analysis As at 30 June 2014, Fortune REIT owns a geographically diverse portfolio of 17 retail malls and properties in Hong Kong, comprising approximately 3.11 million Sq.ft. of retail space and 2,606 car parking lots. Gross Rentable Fortune City One 414,469 6,648 99.6% 000 Xxxxxxx Xxxxxxxxx 665,244 6,292 98.0% 000 Xx Xx Shan Plaza 310,084 4,629 99.9% 290 Metro Town 180,822 2,869 98.7% 74 Fortune Metropolis 332,168 2,180 98.8% 000 Xxxxxxxxx Xxxxxx 276,862 1,778 99.6% 000 Xxxxxxx Xxxxxx 80,842 1,522 100.0% 00 Xxxxxxxxx Xxxxxx 63,018 900 100.0% 000 Xxxxxxxxx Xxxxxx 180,238 892 100.0% N.A. Jubilee Square 170,616 780 96.5% 97 Smartland 123,544 624 99.6% 67 Tsing Yi Square 78,836 547 100.0% 00 Xxx Xxxx Xxxxxx 91,779 423 100.0% 43 Hampton Loft 74,000 000 000.0% 35 Centre de Laguna 43,000 252 100.0% N.A. Lido Avenue 9,836 174 100.0% X.X. Xxxxx Avenue 14,604 113 100.0% N.A. Fortune REIT’s private housing estate retail portfolio has again demonstrated its resilience by delivering a solid performance amidst a softening of overall retail sales in Hong Kong. Active leasing management and the completed AEIs continued to drive the revenue growth of the portfolio. Portfolio occupancy remained strong at 99.1% as at 30 June 2014 (30 June 2013: 97.8%). Mana ement Discussion and Analysis A solid rental reversion of 21.2% was recorded for renewals during the Reporting Period, driven by the strong rental growth at Fortune Kingswood. Consequently, portfolio passing rent stood at HK$34.2 per Sq.ft.. Excluding Fortune Kingswood, passing rent for the original portfolio has increased by 7.3% year-on-year. Operating expenses (excluding the Manager’s performance fee) stood at HK$214.3 million, 35.6% higher than the corresponding period last year, mainly attributed to the additional expenses from Fortune Kingswood. Meanwhile, the cost-to-revenue ratio was 26.3% (first half 2013: 26.0%). Fortune REIT continued its success in executing and deliv...
Portfolio Valuation. 43 Article 21.
Portfolio Valuation. (a) As of any Valuation Date and as of the Friday of each week, the net fair market value of the Partnership's assets ("Net Asset Value") shall be determined. The Net Asset Value shall include the total of realized and unrealized profits, gains and losses, all dividends, interest and other income and shall be net of all Partnership expenses and deferred costs, whether paid or accrued (other than those allocable to the General Partner pursuant to Article 8(j)); in determining the Net Asset Value of the Partnership for purposes of Article 15(b), the admission of any new Limited Partners or additional contributions to this Partnership, Net Asset Value shall be adjusted to reflect an accrual for the Advisory Fees and Allocations that is payable by the Partnership on the relevant Valuation Date; provided further that if the relevant Valuation Date is not a date on which any Performance Allocation is payable or determined, the Net Asset Value shall be adjusted to reflect an accrual equal to the Performance Allocation that would be payable if the relevant Performance Allocation Period ended on such Valuation Date.
(b) Subject to any procedures as the Managing General Partners adopt from time to time, the fair market value of Securities held in the Partnership's investment portfolio shall be determined by the Advisory General Partner in good faith using reasonable methods of valuation that are consistent with industry practice. In making its determination, the Advisory General Partner may, but is not required to, value Securities at their last closing "bid" price with respect to a "long" position and their last closing "asked" price with respect to a short position. In the event that the transfer of Securities by the Partnership is restricted in any manner, the Advisory General Partner may, subject to such procedures as the Managing General Partners shall adopt from time to time, may value the Securities at such lesser amount as it deems, in its sole and absolute discretion, reflects the value of such Securities after taking into account the restrictions applicable to their transfer by the Partnership.
(c) The value of the Partnership portfolio as of any Valuation Date shall be reduced by all accrued but unpaid expenses of the Partnership with respect to the particular valuation period, all as determined by the Advisory General Partner in its discretion.
