NAV Validator

A roll-forward reconciles opening NAV plus contributions, minus withdrawals, plus gross P&L, minus fees and expenses, against the reported closing NAV. Any gap between the expected and reported figure signals an arithmetic error, an unrecorded flow, or a fee miscalculation somewhere in the month-end process.

The tool implies an annualized rate from the dollar management fee charged (fee ÷ average NAV ÷ elapsed period fraction) and compares it to your stated management fee rate. A large gap usually means the fee was accrued against the wrong NAV base or the wrong period length.

A performance fee should never exceed the stated rate applied to gross P&L net of management fees, and — under a high-water mark — should never accrue in a loss period. This check flags either as a hard failure because both directly overcharge LPs.

Per-LP reconciliation and return-dispersion checks are optional — paste per-LP opening/contribution/withdrawal/closing rows to include them. Without that data, the score is computed from the five fund-level checks alone, so a clean fund-level month still scores 100.

No. This is an illustrative arithmetic check from the numbers you enter. Nyx Fund runs a shadow NAV alongside your fund administrator as a complement, never a replacement for an independent administrator or auditor.