Valuation Date

Just as a mutual fund, we update your club's valuation on a daily basis. This valuation occurs around 8 pm MST, when we receive the final, corrected closing prices from our data supplier. This sets daily Unit Value which is used to determine the number of shares received or redeemed when you make a member contribution or withdraw funds from your club. Unit value fluctuates daily with the value of your club's holdings.

Clubs should define Valuation Date(s) to use to record member payments and withdrawals in their Partnership Agreement or Operating Procedures.

You must specify this Valuation Date when you enter Member Payments. This is not the same as the Transaction Date, which is the date member's checks are deposited in the account.

The Valuation Date for a report is the closing price on the date shown on the report. If the closing price is not yet available or the date is not a trading day, the prior closing price is used and the report contains a special remark, e.g.

(using prices from market close for 03/02/2000)