Regulatory Alerts2016-09-14 | NDMC-11Added · Updated
Technical Standards for the Calculation of the Participation Share Value and Allocation of Participation Shares
The Central Bank of El Salvador establishes technical standards requiring authorized Investment Fund Managers to calculate daily participation share values using fair market value principles and specific automated reporting systems. The rules define precise formulas for net asset value calculation, mandate minimum decimal precision in USD for disclosures, and set strict cut-off times for allocating subscriptions and redemptions to specific daily share prices. These obligations apply to all open and closed investment funds managed by entities supervised by the Superintendency of the Financial System.
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