Abstract: An exemplary embodiment comprises a method for determining at an effective valuation time a fair value of an exchange traded fund comprising securities, at least one of the securities not currently trading in a liquid market, comprising: (a) for each security: (i) receiving historical price data, wherein the historical price data comprises data for price-related time-dependent variables; (ii) performing a regression analysis on the historical price data; and (iii) calculating at the effective valuation time a fair value of the security based on the regression analysis and on values of one or more of the plurality of price-related time-dependent variables; (b) multiplying the fair value by the security's weighting in the exchange traded fund to obtain a weighted fair value; and (c) aggregating the weighted fair values of the plurality of securities in the exchange traded fund to obtain a fair value adjusted price for the exchange traded fund.

Abstract: The fair value of a fund is determined by analyzing various factors indicative of how each underlying asset of the fund would be valued on the open market. The fund may be an international mutual fund that includes underlying assets, which include international equities. Because some of the underlying assets may not be traded in a liquid market at the time of valuation of the fund, a reliable estimate of the value of such underlying assets must be made based on available data related through historical correlations. The fair value of the fund is determined based on the estimated or actual values of each of the underlying assets.