While Jasper calculates the Net Asset Value ("NAV") of our Funds on a monthly basis, the most impactful part of this calculation, the value of each asset (property) within the fund, is typically determined on a quarterly basis (at the description of the Jasper).
Jasper uses an independent registered third-party to complete a market valuation of each asset. When completing their assessment, valuers take into account:
Location & site details
Building services & structural integrity
Tenant covenant & lease profile
Projected net cash flows discounted at a rate appropriate to its risk profile
Capitalisation rates & occupancy
Comparable sales, leasing and other market benchmarks
It's also important to recognise that private asset valuation isn't an exact science. Valuers commonly use a combination of Discounted Cashflow and Income Capitalisation analysis. While both approaches represent a comprehensive and best-practice valuation methodology, they are based on a variety of assumptions inherently involving an element of forecasting and a subjective evaluation of risk factors.