Footnote:
In: Allen, K. D., Cashman, G. D., & Winters, D. B. (2016). How informative is floating NAV when securities trade infrequently?. Financial Review, 51(1), 69-82
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 29, 2015 erstellt
Description:
We examine if a floating NAV increases the transparency of risk for investors. Using closed-income fixed income funds we find little evidence that a floating NAV helps investors better understand the value and risk of a fund when a fund’s assets trade infrequently. This potentially informs the debate regarding the adoption of a floating NAV in the money market industry. Our results suggest that it is unlikely that the benefits of floating NAV will outweigh the costs