a6e9b7ba-8c63-4dee-9484-ccea96a52ad7

Greetings, We begin with China where a part of the fiscal stimulus has been orchestrated via the state-controlled China Development Bank (CDB). The bank is known for financing large infrastructure projects. Source: Macquarie As discussed yesterday, China’s recent growth has been fueled by credit. With increased liquidity (injected via stimulus – for example above) and

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Mandeep Sihota

Valuation is a key factor in a fund’s operations – using incorrect valuation numbers can adversely impact a fund. The valuation of illiquid securities in particular, represents a significant challenge for managers. How a manager values these securities carries through to NAV and the market value of AUM

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