How is the net asset value of a KOSDAQ venture fund with many unlisted shares determined?

Fund assets are in principle valued at market price, and at fair value where no market price exists.

The Financial Services Commission explained that fair value is set by the asset manager's collective investment property valuation committee, taking into account acquisition prices, transaction prices and prices provided by bond pricing companies, and that CBs and BWs of unlisted companies held by KOSDAQ venture funds are valued in the same way as other assets. For assets without a market price, keep in mind that the net asset value may differ from the price actually obtainable on sale, depending on the valuation method and timing.