Global investment manager Aberdeen Asset Management has chosen Markit to provide valuation services for hard-to-price assets for positions within limited market data.
Markit’s independent hard-to-price valuation service prices seldom-traded assets, private placement debt and unlisted equity positions using high-quality data and proprietary methodologies.
The service is designed to adhere to post-trade statutory and policy requirements of regulators, investors and auditors alike.
Carolyn Baker, global head of data management at Aberdeen Asset Management, said: “Markit’s service enables us to value hard-to-price assets which are held in a number of our portfolios. Outsourcing this function brings independence and operational efficiencies to an area which requires specialist skills. We are impressed with the quality of service Markit offers and are convinced that this helps us to deliver a best in class solution to our clients.”
Kevin O’Connor, head of private equity services at Markit, said: “The increasing scrutiny on hard to price positions from auditors and regulators places a significant burden on asset managers, one which is expected to grow over time. To help address this challenge, Markit offers an independent valuation service which provides transparent reporting when clients need it.”
