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When you calculate the Performance NAV, you use special entity pricing target sources to allow for the additional valuation point and market value calculations. You must load pricing data released from the vendors into these target sources. The STAR to PACE Batch process pushes holdings data to the Eagle PACE data warehouse using these prices to carry out those market value calculations, storing them under a new Pace source instance.
The system uses the Alternate NAV microservice to perform the Performance NAV calculation. It can execute this service after completing the daily books at the end of the month, but the system has the flexibility to run this service on any given day. The process takes the difference between the summed-up market value from the Daily PACE source holdings (STARDIRECT) and the summed-up value from the Performance PACE source holdings (PERFNAV) and applies that difference to the end of day Total Net Assets. Using the adjusted Performance Total Net Assets (TNA), the end of day Shares Outstanding, and current day exchange rates, the system calculates the share class level NAVs and any associated multicurrency NAV.
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