SparDanmark Invest Reports Net Asset Value Calculation Errors
Investeringsforeningen SparDanmark Invest has identified errors in the calculation and publication of its net asset value (NAV). The pricing inaccuracies occurred after 16:30 on specific dates and impacted select departments within the fund. The errors caused valuation discrepancies ranging from a negative 0.62% to a positive 0.96%.
These calculation errors mean that some investor transactions may have been executed at incorrect prices, potentially affecting the final value of their trades. To address the issue, the fund company has advised investors who conducted trades during the affected periods to get in touch with Nykredit Portfolio Administration for assistance.
Investors should monitor for further updates regarding which specific dates and departments were affected by the pricing errors. Observers will also watch to see if the firm implements stronger internal controls to prevent future operational lapses in its valuation processes, or if any compensation is offered to affected shareholders.
Key points
- SparDanmark Invest discovered mistakes in its net asset value calculations and publications.
- The pricing errors occurred after 16:30 on certain unspecified dates.
- Affected departments experienced valuation discrepancies ranging from -0.62% to 0.96%.
- Investors who traded during these periods are urged to contact Nykredit Portfolio Administration.
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Which departments and dates were affected by the SparDanmark Invest NAV errors?
The announcement did not specify the exact dates or departments involved, only noting that the pricing errors occurred after 16:30 on certain dates and affected select departments.
What should affected SparDanmark Invest investors do?
Investors who traded during the affected timeframes are advised to contact Nykredit Portfolio Administration to address any potential issues with their transactions.
How large were the valuation errors?
The net asset value miscalculations affected select departments by a range of negative 0.62% to positive 0.96%.