Markit has launched an Alternative Investment Fund Managers Directive (AIFMD) external valuer service providing independent valuations for alternative investment fund managers.
Markit’s aim is to help customers address the statutory and policy requirements of fund managers, regulators and investors for independent calculation of prices used in determining net asset valuations.
Massimo Catizone, chief executive officer, Athena Capital, says: “We were looking for a cost effective external valuer service which meets AIFMD requirements and allows us to focus on the management of our fund. We are pleased with the support and quality of the services provided by Markit in each step of the process.”
Kevin O’Connor, director at Markit, says: “Following the implementation of AIFMD which defines valuation best practice for fund managers, auditors are now seeking evidence of independence in valuation processes. Markit has extensive experience in the fair valuation of illiquid debt and unlisted equity holdings and we are pleased to provide customers with an external valuer solution.”
Markit’s new service is independent because the company is not involved in the structuring, sale, trading or management of private equity investments. Markit has been providing portfolio valuation services for over 10 years. Valuations are underpinned by Markit’s independent pricing services covering more than 85,000 evaluated bonds and almost 6,500 loans, alongside a database spanning over 30,000 public companies globally. Detailed valuation reports provide transparency into the valuation process, including inputs and assumptions, offering additional insight to customers and enabling more efficient audit reviews.
