Study: Pricing gap between good and bad funds grows

The average high bid price across all strategies was 92 percent of NAV in 1H 2015.

Pricing in the secondaries market continues to be high, but the differential between bids for high-quality funds and bids for lower-quality funds is widening, Secondaries Investor reports. 

The average high bid across all strategies was 92 percent of net asset value in the first half of 2015, according to data from Greenhill Cogent. 
“I think secondaries pricing is going to be stable in the 5 to 10 percent discount range,” said a partner at a large secondaries firm, despite concerns about Greece, China’s stock market and the yuan devaluation as well as dwindling commodities prices

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