We have no access to data to be able to say clearly if funds used to compute the NAV of a Constant NAV Fund as per market valuation principles, pre-MMFR. The Money Market Fund Regulation makes it mandatory for a fund to publish the difference between the market valuation based NAV and the Constant NAV a Daily Basis in a public section of the Fund’s website. To be really clear, while we tend to loosely use the expression market-valuation based NAV, the regulation makes a clear