20 NCAC 01G .0405. VALUATION OF OWNERSHIP UNITS

(a)  Each month the ownership units in the investment fund shall be valued at market price on the last working day of the month.  The value of each ownership unit shall be determined by dividing the total net assets as defined in (b) of this Rule by the total number of ownership units actually standing to the credit of all participants at the time of valuation.  The valuation shall be determined before the purchase of new units and the sale of existing units to be effective that month.

(b)  Total net assets is defined to include cash and its equivalent, equity investment securities at current market price, other investment at book value, dividends and interest receivable adjusted for discounts and premiums, if any, the value of other investment funds owned at unit value times number of units owned, other assets (if any) at the lower of cost or market value, less all accrued and other liabilities, the amount of income to be distributed for the month, and the amount of undistributed realized gains and losses.

(c)  Ownership units shall be rounded off to the third decimal place.

 

History Note:        Filed as an Emergency Regulation Eff. July 1, 1979, for a

Period of 120 Days to Expire on October 29, 1979;

Statutory Authority G.S. 147‑69.3(j);

Made Permanent Eff. October 29, 1979;

Amended Eff. October 29, 1979.