Valuation Guidelines

Effective 1 January 2006, AVCAL adopted the International Private Equity & Venture Capital Valuation Guidelines (IPEV). These Guidelines have the support of most National PE & VC Associations globally.

The Guidelines are based on the concept of fair market value, as opposed to historical cost.

There is no substantive difference between these International Guidelines and the pre-existing AVCAL fair market value Guidelines.

A revised version of the IPEV Guidelines was subsequently released in September 2009.

AVCAL asks each of its Investor Members to apply these Guidelines when reporting to Investors.