Interactive Data Corporation, a leading provider of intraday Indicative Net Asset Value (iNAV) calculations to global ETF sponsors, today announced it is providing iNAV calculations for European-domiciled ETFs offered by Vanguard.
Since 2007, Interactive Data has been generating iNAV calculations for ETF sponsors covering a wide range of ETF basket constituents, including equities, fixed income, commodities, swaps and other derivatives. The iNAV calculation process for Vanguard’s European-domiciled ETFs also combines Interactive Data’s patented fair value pricing techniques with its real-time calculation technology. This new combination of inputs to the iNAV calculation process should provide useful information on ETFs composed of international equities listed in markets that are closed at the time the ETF is trading on an exchange.
“For certain equity ETFs, there can be times during the day when the ETF’s underlying equities are listed in international markets that are closed while the ETF continues to be active on an exchange,” said Rob Haddad, Senior Director for Interactive Data. “Our approach includes an indication of the impact of real-time market activity on the ETF’s underlying basket of securities following local market closing times as an input to the iNAV calculations.”
"We are pleased to work with Interactive Data Corporation to utilise iNAV calculations on Vanguard's European ETFs," said Axel Lomholt, Head of International Product at Vanguard. "This addition is an innovative step to provide greater transparency around ETF market prices for end investors."