To unlock this content, you must have the following:

ASU 2009-12 [FASB ASC 820]: Fair Value of Investments in Investment Companies

FASB ASU 2009-12 amends ASC 820 when investors have investments in investee entities having characteristics of investment companies, and net asset values [or equivalent values] are calculated in a manner that is consistent with the AICPA Audit and Accounting Guide, entitled Investment Companies, there now is a practical expedient provided for investors so that, when fair value amounts are not readily-determinable, investors may use net asset value in complying with the provisions of FASB ASC 820.