Examples of NAV Error in a sentence
NAV Error in Rathbone SICAV Income FundIn advance of the Sub-Fund’s liquidation (13 November 2020), a liquidation budget was compiled.As part of the detailed accruals analysis, it appeared that the Sub-Fund administration accruals were in a pre-paid situation since the beginning of the Sub-Fund’s fiscal year (October 2019).
If a Per Share NAV Error is less than one half of one percent of the originally computed Per Share NAV, J.P. Morgan, on behalf of the Funds, will determine whether total Fund Losses exceeded total Fund Benefits for the NAV Error Period.
The parties acknowledge and agree that the NAV Error Policy shall at all times be consistent with SEC guidance regarding the correction of NAV errors.
If the NAV Error is less than one half of one percent of the originally computed NAV, the Fund should determine whether total Fund losses exceeded total Fund benefits for the NAV Error Period.
For example, in the case of a NAV Error (whether deemed material or not), the error should be corrected in the next valuation following discovery of the error.When examining the issue of redress, consideration must be given as to whether a materiality threshold should apply to the Payment of Redress.
If the NAV Error equals or exceeds one half of one percent of the originally computed NAV, (a) account adjustments should be made to compensate shareholders for shareholder losses, and b) the responsible party should reimburse the Fund for its losses.
The Adviser shall provide the Trust and each Fund’s custodian and fund accountant on each business day with such information relating to each Fund’s transactions and each Fund’s assets and liabilities as the Trust or each Fund’s custodian and fund accountant may reasonably require, including but not limited to information required to be provided under the Trust’s Valuation and NAV Error Correction Procedures, provided, however, the Adviser shall not be deemed to be the pricing agent for any Fund.
Any employee shall be paid at the applicable hourly rate while receiving medical attention.
If the Transfer Agent does not agree to reprocess transactions resulting from a NAV Error for which J.P. Morgan is a responsible person, J.P. Morgan’s liability will be limited to the amount it would have been liable for had the reprocessing occurred.
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