Not 100% certain. I've advised on investment impairment various times, but never to a managed fund calculating unit prices. For impairment, there's an accounting standard that deals with it. You can't just make up a figure. You have to calculate and document what and why.
On the markets, private equity companies have to revalue their own investments all the time. I've owned PAC and PE1 in recent years, and both have had revaluations based on internal calculations. Neither compensate anyone if they're wrong (not perfect examples, as they are floating price). I held Blue Sky Alternative Investments Fund (can't remember the ticker) for a while as well - thankfully got out when the valuation concerns started, before it fully unravelled.
But as I've said, I'm not 100% on this situation. Pretty unusual.
ISX Price at posting:
$1.07 Sentiment: None Disclosure: Held
