flipped and dipped
the markdowns are not remarkable. lick your fingers, feel the wind, and pick a price
so listed mutual funds with daily redemptions hold unlisted private equity with uncertain liquidity and duration ?
Another mutual fund, this time one managed by US-based investment firm Vanguard Group, has marked down the value of shares it holds in India’s largest e-commerce firm Flipkart Ltd. The news was first reported by VCCircle. Vanguard, which invested in Flipkart in the series G and H rounds it raised in 2014, marked down the value of Flipkart shares by 25%, from $136.87 as on 30 September 2015 to $106.65 as on 31 March 2016, according to regulatory filings with the US Securities and Exchange Commission (SEC). Trhis brings down Flipkart’s valuation to $11 billion, according to the repot.
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