I'm getting a lot of inquiries about the price given to the I-fund yesterday. A few things to keep in mind:
1) The EAFE Index that the I-fund tracks closes before noon ET.
2) The EFA price at the bottom of tsptalk.com is NOT the I-fund. It is an ETF traded on the U.S. market that is supposed to track the EAFE Index and so we use it for some intraday guidance, but since it is traded like a stock, the price is where the buyers and sellers agree on a price. So while the EAFE is closed, traders are still speculating on a price.
3) The TSP has to come up with a price. This where it gets tricky because they have to decide whether to use the actual EAFE number, or to add / subtract "fair value" based on what's happen in other markets after the EAFE has closed.
The I-fund was given a loss of 0.27% on Friday.
The EFA had a gain of 1.11%.
The EAFE Index actually closed down 0.28% on Friday.
https://www.msci.com/end-of-day-data-search
The EAFE and the TSP will likely adjust on Monday, you'll see.
More on "fair value"... What is a "FV" and how does it work?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
FV got us again today. EFA closed at +3.28% yet the I-Fund only closed at +1.97%...no sir, I would not like another!
100 G COB 11/3/23
Excellent reason why I no longer use the "I"nsane fund...
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I fund actually is about 1.4% below where it should be - as they blew another .4% earlier in the week.
I am in the I fund now- hope they catch up Monday!
Another divergent day on the "I" fund.
EFA was up 1.22%, yet the EAFE was only up 0.82%.
And the "I" fund value only rose about 0.81%.
Come on baby- let's make it up tomorrow!
I hope it gets fixed James. I'm also crossing my fingers and toes for a few more up days in this rally (I hope it isn't just a DCB). Reading the news tonight reminds me why they call it the "wall of worry". I knew I should have listened to my gut and bought in on Friday. Oh well...time for more white water investing. Best of luck to you in your investing.
FS
FogSailing
Try to learn something about everything and everything about something.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Emotions should never play a role in one's investing strategy!
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The Asian markets close very early and the European markets close at about 11:30 AM ET (lets say noon), but the I-fund is in reality open until the TSP says it's closed. Sometimes they take the late action into consideration, and sometimes they don't. That's the confusing part.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
After doing a little research not long ago, I believe the TSP uses a fair valuation for the I fund that is based upon the (projected?) current trading price of the EAFE at (or near?) the time the TSP posts its daily prices.
The EAFE begins trading at or after our markets close. So today, it seems that there was a pull-back of sorts. I don't believe that they ever 'owe' us anything with regard to fair valuation.
Best paper so far I've read regarding fair valuation and our funds:
https://www.msci.com/resources/pdfs/...etin_FINAL.pdf
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