As we approach the end of the first quarter of 2020, investment fund managers and investors in non-traded or infrequently traded debt and equity investments have a fiduciary duty to report independent and credible fair value information to investors and stakeholders. This process is complicated by the rapidly changing global health situation due to the coronavirus (COVID-19). Given the uncertainty demonstrated in the public markets and the unknown ultimate impact of COVID-19, using informed judgment to measure the fair value of investments will require even more thought and analysis.
Please join us for a discussion on how best to reflect the impact of COVID-19 on measuring and reporting fair value for the March 31, 2020 quarter end.
Originally presented on March 18.
Duration: 1 hour
- What impact will COVID-19 have on fair value estimates at March 31, 2020?
- How are market participants transacting in times of increased uncertainty?
- How are value drivers impacted by the epidemic (revenue, cost, growth, competition, market conditions, etc.)?
- Should projections be updated and what is the impact on fair value if they have not been updated?
- How much weight should be placed on observable market transactions and public market volatility?
- What are the short, medium and long-term impacts of a market disruption on the business and operations of an investee company?
- David Larsen, Managing Director, Portfolio Valuation, U.S.
- Ross Hostetter, Managing Director, Portfolio Valuation, U.S.
- Ryan McNelley, Managing Director, Portfolio Valuation, EMEA
- David M. Scott, Managing Director, Alternate Asset Advisory, U.S.
- Ross Prindle, Managing Director, Real Estate Advisory Group, U.S.
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Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.
Alternative Asset Advisory
Provides an array of consulting services to alternative investment managers and investors.
Alternative investment valuation for private equity and hedge funds.