Duff & Phelps held a webcast discussion on how best to consider the impact of COVID-19 for end of Q2.
The economic impact of government and public health actions to reduce the spread of COVID-19 has created massive unemployment, liquidity concerns and significant uncertainty. Like Ireland, many countries have started to “reopen” their economies with the impact on businesses and the health of the populace uncertain.
As a follow-up to our March webcast focused on valuing private investments, we discussed key concerns and suggestions for estimating fair value at June 30, 2020. Our experts answered questions and discussed practical steps fund managers and investors in non-traded or infrequently traded equity, debt, real estate and structured product investments can take as they exercise their fiduciary duty to report independent and credible fair value information to investors and stakeholders. Rossa White, Chief Economist at the National Treasury Management Agency, also provided an update on the macroeconomic environment.
- What is the current macroeconomic framework?
- What has changed economically from March 31 and how should those changes be reflected when valuing illiquid investments at June 30, 2020?
- Public markets remain volatile but have rebounded to some extent. Does this mean that the valuation of private investments has also rebounded?
- Should portfolio companies be expected to reforecast every quarter in the current environment?
- How does COVID-19 impact valuations in the real estate sector?
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