COVID-19 & Portfolio Securities Valuation
A Q2 2020 update on credit spreads and required returns.
Industry Index Discounted Spreads in Valuations
Considering the virus’ material impact on specific industries, we’ve seen a greater emphasis on secondary industry-specific loan indexes when controlling for credit risk.
A 50-Year Vintage: Great for wines, but not valuation (Opinion)
A prudent recap and opinion on the proposed steps the SEC is taking toward modernizing fund valuation guidance.
COVID-19: Event Timeline (Updated June 2020)
VRC continues to identify potential triggering events of the health and financial crisis as we help clients with financial reporting in our preparation of valuations.
COVID-19: Event Timeline
Tracking the socioeconomic disruption of the coronavirus pandemic.
SEC Proposes Rule Modernizing Fund Valuation Guidance
The SEC has Proposed Rule 2-a5, which will update its fund valuation guidance for the first time in 50 years, establishing a board’s responsibilities as it pertains to a fund’s determination of their investments.
Q1 2020 Economic Snapshots
Quick-hit visual summaries of the leading economic and financial indicators in major economic markets.
Private Credit Managers Grapple with Growing Pains
As private credit manager valuation leaders scrutinize how to optimize their internal teams, they also are leveraging technology tools and third-party service providers—both domestic and offshore—to meet the demands of scale.
Leon Li
Mr. Li specializes in valuing complex securities including options, warrants, fixed income and credit derivatives, structured products and other derivatives. Prior to joining VRC, Mr.…
COVID-19: An Orderly Repricing of Risk in Private Debt
The only comparable event to the spread of the virus for modern private capital markets is the Great Recession, but there are some key differences this time.