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EDHECinfra produces calculated indices (as opposed to contributed indices), the computation of which requires estimating the value of individual constituents: unlisted infrastructure equity or debt investments qualifying as infrastructure under TICCS®.
This document describes the approach taken to estimate the value, performance, and risk of each individual index constituent.
Our approach follows standard guidelines on “fair value” accounting as defined under IFRS 13 and ASC topic 820 (US GAAP) and IFRS 9.
US Financial Accounting Standards Board (FASB) 2011 amendment (ASU-2011-4) brought the FASB Accounting Standards Codification (ASC) topic 820 Fair Value Measurement guidance (formerly FSAF 157) in line with the International Accounting Standards Board (IASB) fair value guidance (IFRS 13) of May 2011. Since 2011, The definition of fair value is identical between US GAAP and IFRS. These regulation are principle- rather than rule-based and recognise explicitly the need for “judgment” to arrive at fair-value estimates.
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