TOP 10: My fund is showing an erroneously large return every day. Whats going on?
The stocks in your fund are priced using data from two different sources: 1) a real-time feed and 2) a historical closing price file. We use the real-time feed to price your fund during the day (in the various stratification reports, among other places) and to fill tickets. We receive this feed continuously throughout the day. We use the historical closing price file to price the stocks in your ledger. We receive this file after market close, generally around 9:00 or 10:00 p.m. Sometimes one or both feeds stop sending prices for a stock, or send incorrect stock prices. Most of the time, this happens with stocks that have undergone some sort of corporate action, such as a bankruptcy, merger, delist, etc. This can cause discrepancies in your fund’s NAV and percentage gains. For example, we calculate your fund’s daily percentage return by comparing your fund’s current value (calculated using the realtime feed) with the previous day’s value (as recorded in your ledger using the historical
