Valuation and Liquidity
Under U.S. Securities and Exchange Commission guidance, at least 85 percent of a mutual fund’s portfolio must be invested in “liquid securities”— assets that can be “sold or disposed of in the ordinary course of business within seven days at approximately the value at which the mutual fund has valued the instrument on its books.” While fund managers monitor and manage portfolio liquidity daily, fund boards oversee liquidity management as part of their oversight of compliance and portfolio management.
Third Party Resources
Below are links to additional resources created, published, and maintained by other organizations. They are merely a sample of additional resources for fund directors. IDC does not control, cannot guarantee, and is not responsible for their accuracy, timeliness, or continued availability. These links are provided solely as a service to fund directors and should not be construed as indicating in any way that IDC endorses either the content provided or the third-party providers of any such content.