A More Coherent Perspective.
The money-weighted approach of current standards is an obstacle to the better understanding and acceptance of private market investment opportunities that both fund sponsors and investors seek. By putting private market returns in the unambiguous time-weighted context of all other asset classes, XTAL allows accurate comparability, improved pricing transparency, better liquidity and more efficient investment and risk management practices.
Ultimately, private fund investments are either cash (dry powder or distributions) or investment at work. Funding and reinvestment risk need better consideration than with current valuation standards. To this end, we have adopted equity and fixed income duration best practices to deliver an effective and innovative solution.