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FASB proposes ASU on investment companies’ disclosures

  • FASB document Image

Dec 04, 2014

The FASB has issued a proposed ASU, “Disclosures About Investments in Other Investment Companies,” which would amend ASC 946 to clarify the scope of current U.S. GAAP disclosure requirements related to an investment company's investments in other investment companies.

The proposal “would require a feeder fund in a master-feeder arrangement to provide the master fund’s financial statements along with its financial statements. The proposed amendments also would expand the scope of the current requirement to disclose certain information about investments held by investee funds that exceed 5 percent of the reporting entity’s net assets to include reporting investment companies that are regulated under the Investment Company Act of 1940."

Comments on the proposed ASU are due by February 17, 2015.

For more information, see the proposed ASU on the FASB’s Web site.

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