What entity must a government reference when valuing its share in an investment pool under SEC guidelines?

Valuing a share in an investment pool under SEC guidelines requires referencing the pool's share price. This share price reflects the market value of the investment pool, allowing the government to determine the current worth of its investment accurately. The share price is typically based on the net asset value of the pool, which accounts for the performance of the underlying assets and any liabilities, providing a clear, standardized method for valuation.

Using the pool's share price ensures that the government is up to date with the current market conditions and the actual performance of the assets in the pool, which might not be captured by evaluating the original investment amount or the cost of the underlying assets. These other metrics may not reflect any changes in market value, making them less relevant for determining the value of an investment in an investment pool. The investment firm's evaluation may also be subjective and vary, whereas the pool's share price provides an objective measure derived from the financial performance of the pool as a whole.