How accurate are the mutual fund prices in the newspaper?
According to the Investment Company Institute (ICI) fund pricing is almost 99.5% accurate. Lipper Analytical Services estimates the number to be closer to 98.95%. Mutual funds are required to submit to the NASD a daily pricing of the fund’s NAV. The NASD then distributes this information to the press and news/quote services. Occasionally a fund may err in pricing the securities in the portfolio which results in an inaccurate NAV being distributed to the press. Fortunately, even the rare mispricing is usually detected and corrected prior to any processing of mutual fund buy and sell orders.
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