Due Diligence on Valuation: IAFE Comment Period Closing

The body of the report is a list of questions that investors should ask managers in the context of due diligence and that managers periodically should ask themselves. The questions fall into 12 general categories, concerning: the controls a firm employs to promote correctness and integrity in its valuations; checks and balances in the marking of the portfolio; the specific individuals with oversight responsibility for pricing; the valuation procedures; the valuation committee; reliance upon pricing services; identification and monitoring of events that could have effect on value; pricing overrides; stale pricing; fund of funds managers–how do they ensure that they're receiving correct prices from their underlying funds?; issues relating to debt securities; and procedures of the auditors and/or outside administrators.