2021 Discount for Lack of Marketability Study
NEW FOR 2021:
The 2021 Study is new and what is most important is that it is consistent with prior year findings. Appraisers now have data to compare from 2006, 2011 and 2014-2021. All these annual studies show that investors demanded an 30%-45% higher rate of return for the additional risk of longer holding periods. This study allows appraisers to quote the most recent data available.
Of note, the premiums did increase compared to the most recent studies as equity markets improved to all-time highs.
- Private Equity vs. Public Equity Returns
- Restricted Stock Returns
- Long Term vs. Short Term Bond Horizons