SFAMA Releases New Guidelines for Valuation of Assets
SFAMA Publishes Revised Checklist for Asset Valuation
Revised Guidelines Aim to Enhance Transparency and Consistency in Asset Valuation Practices
Zurich, January 2022 - The Swiss Funds Asset Management Association (SFAMA) has released a revised checklist for the valuation of assets within the context of the Swiss Financial Market Infrastructure Act (FIDLEG) and the Swiss Financial Services Act (FINIG). The revised checklist aims to enhance transparency and consistency in asset valuation practices within the Swiss fund industry.
The revised checklist is based on the principles set out in the SFAMA's "Guidelines for the Valuation of Assets" (RL NAV CL_e_Checklist Guidelines Valuation of Assets_081126), which were first published in 2008. The revised checklist has been updated to reflect changes in the regulatory landscape and to incorporate best practices in asset valuation.
The key changes in the revised checklist include:
- Clarification of the definition of "fair value"
- Additional guidance on the use of market data and valuation models
- New requirements for the documentation of valuation processes
- Increased focus on the role of independent valuers
The revised checklist is intended to provide guidance to fund managers and independent valuers on the valuation of assets for the purpose of calculating the net asset value (NAV) of funds. The checklist is not intended to be an exhaustive list of all factors that may need to be considered when valuing assets. Fund managers and independent valuers should consider the specific circumstances of each valuation and seek professional advice where necessary.
The revised checklist is available on the SFAMA website: https://www.sfama.ch/en/publications/sfama-rl-nav-cl_e_checklist-guidelines-valuation-assets_081126/
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