Erm yes you are correct, this is the line of business they’re in and they should have had better controls for valuing their assets. Typically there’s a 3rd par

Erm yes you are correct, this is the line of business they’re in and they should have had better controls for valuing their assets. Typically there’s a 3rd party fund administrator whose core responsibilities include calculating the value (NAV) of the fund. Sometimes funds have Level 2 or Level 3 assets, which may require management effort to value and may not have real-time pricing available. https://www.investopedia.com/terms/l/level2_assets.asp https://www.investopedia.com/terms/l/level2_assets.asp https://www.investopedia.com/terms/l/level3_assets.asp https://www.investopedia.com/terms/l/level3_assets.asp