Annual Percentage Yield

NAV Calculation

Generally the NAV calculations happen on a quarterly basis. Each quarter there is an open period for contributions and withdrawals.

At each quarterly calculation date, the total Net Asset Value of the LP is assessed. Each member of the LP owns a percentage of the total LP, which was calculated at the previous quarterly calculation date. Their % ownership is multiplied against the total NAV to come up with their individual ownership value (need a better term for this).

Withdraws are assessed first and members can withdraw up to their maximum pro rata ownership of the NAV. Next contributions are factored in and new pro rata ownership percentages are recorded.

During the period, as funds sat in the LP are invested into open contracts, interest on those contracts will be received in the LP, adding to the total NAV. Any declines in value or defaulted debts would decrease the total NAV. At the onset of the next quarterly calculation period, the same calculation process occurs where the total NAV is calculated and then each member is assessed their pro rata share eligible for withdrawal.