Sentences with phrase «illiquid assets subject»

Not exact matches

He modified the original Fama - French five - factor model to account for research finding that, because there is no real - time market price for illiquid private assets, returns are appraisal - based and subject to manager judgment.

However, if more than 15 % of Fund assets (defined as net assets plus the amount of any borrowing for investment purposes) are illiquid, the Fund's investment adviser will reduce illiquid assets such that they do not represent more than 15 % of Fund assets, subject to timing and other considerations which are in the best interests of the Fund and its shareholders; or