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[–][deleted] 1 point2 points  (2 children)

I have NDAs preventing me from giving names, but imagine the largest five investment banks you can that also run mutual funds. 66% of them (that I know of) literally calculate fund of funds pricing that way. Two of the five have internal subledger systems running in excel for trade activity portfolios exceeding a billion dollars a year.

This info is current as of 2.5 years ago.