EOS Invest estimated Daily NAV calculation and publication
Our Daily NAV is generally calculated daily and published the same business day at 09:05am CET on the website of EOS Invest and through various other channels. Our Daily NAV is published in SEK, based on the exchange rate between SEK and USD as set forth on Bloomberg page “USDSEK Currency” at the time of the Daily NAV calculation.
Our Daily NAV consists of our assets less our liabilities, calculated as described below, and the Daily NAV per share is our Daily NAV divided by the number of outstanding shares.
Our holdings of financial instruments that are publicly traded/quoted are valued at current market price, which is defined as an amount equal to the best bid price.
All shares are valued based on the bid price as quoted on MOEX at or around 09:00am CET.
Where the relevant bid price appears not to render an accurate fair market value, we may assess another fair market valuation based on available market data. Unlisted assets are valued at their latest known transaction price. Where such information is lacking or appears not to render an accurate fair market value, we may assign such unlisted financial instruments a fair market value based on available market data.
Calculation of our daily NAV compared to calculation of our IFRS NAV
For our financial reports, we calculate a net asset value in accordance with IFRS. Our IFRS NAV is calculated as the book value of our assets minus the book value of our liabilities and provisions. The main differences between the calculation of our IFRS NAV and the calculation of our Daily NAV are set forth below.
Under IFRS, our holdings of financial instruments are valued in accordance with IFRS 9 Financial Instruments: Recognition and Measurement. Financial instruments that are publicly traded/quoted on an active market are valued at fair value, which, under IFRS 9 is defined as the highest bid price at the time of valuation.
We make accruals and provisions in our balance sheet in accordance with IFRS, which are included when calculating our IFRS NAV, but not when calculating our Daily NAV.