Valuation of Authorized Investments
Listed equities, warrants and options – listed equities, warrants and options will be valued based on the last done market price of the respective exchanges.
Unlisted equities – valuation is based on methods deemed to be fair and reasonable that are acceptable to the Manager, verified by the Auditor and approved by the Trustee. Valuation is carried out on a yearly basis.
Listed and Unlisted fixed income securities – for listed fixed income securities, the last traded prices quoted on a recognized exchange.
Cash/Fixed deposits – the value of such investments which are deposits placed with banks and other financial institutions and bank bills, shall be determined each day by reference to their nominal values and the accrued interest thereon for the relevant period.
Futures – all futures contracts are marked-to-market at the end of each trading day. Any gains or losses are immediately reflected upon marking to market.
All foreign securities and assets will be translated into PGK based on the bid exchange rate quoted by Bank South Pacific. If no market price is available or valuation based on market price does not represent the fair value of foreign investments due to reasons which include abnormal events occurring after the close of the market on which the security is traded, the securities will be valued based on methods deemed to be fair and reasonable as agreed upon by the Manager and Trustee.