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Closed end funds require that you exclude preferred stock accounts from the total net assets. You can use the NAV Rule panels to create a NAV rule that excludes preferred stock accounts from the total net assets. You may also need to calculate a net asset value that includes the preferred stock value for use when the system calculates variable expenses for the close-end fund. For details on setting up an adjusted NAV expense rule that includes preferred series ledger accounts, see Set Up Expenses for Preferred Shares Processing Use Adjusted NAVs to Calculate Variable Expenses.