Dive Brief:

• A computer glitch complicated trading in some of the most widely held investments on Wednesday.

• The problem was the result of a breakdown at Bank of New York Mellon — the world's largest fund custodian by assets.

• The glitch prevented mutual and exchange-traded funds from providing investors with the values of their holdings. Directors and executives at some fund sponsors had to manually determine pricing data.

Dive Insight:

The issue prompted emergency meetings across the industry.

Several of the large big money managers and funds were affected, including U.S. money-market mutual funds run by Goldman Sachs Group Inc., exchange-traded funds offered by Guggenheim Partners LLC, and mutual funds sold by Federated Investors.

According to fund research firm Morningstar Inc., 796 funds were missing their net asset values on Wednesday.