Document proof
NAV statement, shareholder report, financial statements, valuation policy, or simplified source trail.
Mechanic fields
- NAV
- NAV date
- Performance base
- Valuation source
Back to controlled examples
Private EquityMODEL-PE-NAVNAV / Level III context4 concepts
Model NAV mark context and valuation confidence
Use a model valuation packet to connect reported NAV, private marks, valuation hierarchy, and performance comparisons.
Inspect This Model
Use the scenario to isolate the mechanic.
Use MODEL-PE-NAV to move from NAV / Level III context, to controlled lab, to document-route check, to advisor language.Mechanic in focus
NAV / Level III context
Use a model valuation packet to connect reported NAV, private marks, valuation hierarchy, and performance comparisons.
Controlled educational example. Not based on any specific fund.
Inspection workflowConcept to lab to document route to advisor language.
- 01ConceptDefine the mechanic
Start with the canonical Net asset value entry so the model scenario is read through the right mechanic.
Net asset value - 02ToolRun the controlled lab
Use before applying strategy or performance claims so the wrapper does not get confused with the underlying asset class.
Wrapper Matrix - 03Source checkFind the document family
NAV statement, shareholder report, financial statements, valuation policy, or simplified source trail.
Filing Trail Decoder - 04Controlled exampleInspect the model scenario
NAV date and valuation cadence. Level III or model-based exposure where available. Source document supporting the mark and the reporting period.
MODEL-PE-NAV scenario - 05Advisor outputLeave with usable language
Use when a reported NAV looks stable but the advisor needs to explain timing, private marks, or Level III exposure.
Explanation script
Concept Graph
The canonical terms this example teaches.
Document proof
Financial statement fair-value table, shareholder report footnotes, N-PORT, or valuation disclosure.
Mechanic fields
- Fair-value hierarchy
- Level III exposure
- Valuation inputs
- Source footnote
Document proof
Fair-value hierarchy table, valuation footnotes, N-PORT classification, and financial statement schedule.
Mechanic fields
- Level III
- Model-based marks
- Valuation confidence
- NAV context
Document proof
Filing, prospectus, supplement, shareholder report, tender document, or manager disclosure linked by AltHarbor.
Mechanic fields
- Source trail
- Filing type
- Reviewed date
- Source observation
Related Tools
Run the controlled lab before using the scenario language.
LiveWrapper MatrixUse before applying strategy or performance claims so the wrapper does not get confused with the underlying asset class.LiveDistribution Quality LabHelp advisors explain why a high distribution is not automatically a high-quality return.LiveNAV / Valuation Lag ExplainerTeach why reported NAV should be read with valuation source and timing context.LiveShare Class Cost ComparatorMake share-class selection visible before advisors compare net performance.LiveFiling Trail DecoderRoute an advisor from a product question to the document type most likely to prove it.
Related Modules
Read the background if the example exposes a gap.
01Valuation / CoreValuation: How Alternative Fund NAVs Are Set - and Why It MattersWhy private marks, appraisal timing, manager judgment, and market stress can make NAV less precise than it appears.02Risk / CoreRisks: What Can Go Wrong in Semi-Liquid Alternative FundsThe structural and manager-specific risks that matter most, from liquidity and valuation to leverage and incentives.03Performance / CoreBenchmarking and Performance: How to Read Alternative Fund ReturnsHow to interpret yields, total returns, IRR, MOIC, inception dates, benchmark choices, and fee drag.04Due Diligence / Start hereDue Diligence: How to Evaluate a Semi-Liquid Alternative FundA five-layer framework for evaluating structure, manager quality, portfolio risk, operations, and disclosures.
Learning Paths
Use this case inside a broader advisor workflow.
Core / 71 minEvaluate a first fundTurn a fund pitch into a source-backed diligence agenda.Core / 41 minFees and performanceCompare performance after understanding what the return includes.Advanced / 74 minAdvanced diligencePressure-test claims with source documents and structural context.Intro / 45 minReference deskLook up the terms that appear across AltHarbor product vocabulary.
Wrapper Context
Compare the structure before comparing performance.
NAV REITNAV REIT / non-traded REITUsually monthly or quarterly share repurchase program with stated caps.IntervalInterval fundMandatory repurchase offers every 3, 6, or 12 months, commonly quarterly.Perp PEUnregistered perpetual PEManager-defined, lockup-based, discretionary, or periodic depending on agreement.Perp CreditUnregistered perpetual creditAgreement-defined windows, lockups, queues, gates, or manager discretion.Perp REUnregistered perpetual real estateAgreement-defined repurchase, tender, or withdrawal windows; may include queues, gates, or suspensions.DrawdownTraditional drawdown fundGenerally no periodic redemption right; transfers are restricted and secondary sales are negotiated.
Advisor Outputs
Leave with language, questions, and document checks.
Explanation script
NAV is the fund's reported value at a point in time. In private markets, the date, valuation process, and Level III exposure matter as much as the number.
Investment committee notesReview wrapper rights, liquidity capacity, fee layers, valuation inputs, source-document freshness, and manager discretion as separate gates before discussing allocation fit.
Controlled educational example. Not based on any specific fund. Product pages remain the place where AltHarbor applies these mechanics to source-backed product facts.