4. Setting up Investor Preferences

After you have created an authorized unit holder account for an investor, you can set up any or all of the following investment preferences for the same, as and when requested.

You set up these preferences at the investor’s behest, and these will govern the maintenance of the investor’s account and processing aspects of any transactions requested by the investor.

This chapter contains the following sections:

4.1 Income Distribution Setup Screen

This section contains the following topics:

4.1.1 Maintaining Investor Distribution Setup Details

When investors put their capital into any funds of the AMC, they derive earnings out of any dividend declared by the fund at any juncture.

Also, an intermediary (such as a broker) designated for a fund derives commission earnings from the transactions in the fund.

Investors may wish to choose the manner in which they could use the dividend income. Similarly, brokers could wish to choose the manner in which they could use their commission earnings.

They could wish to:

The option chosen by the investor to use dividend or commission earnings, as the case may be, is known as the Income Distribution Setup option or the IDS option for the investor or broker.

Income distribution options can be set up for both; UT transactions and Policy transactions. You can capture this option for any investor or broker for a combination of fund, policy and product in the Oracle FLEXCUBE Investor Servicing system.

4.1.2 Invoking Income Distribution Setup Screen

You can setup the income distribution setup option for an investor using ‘Income Distribution Setup Detail’ screen. You can invoke the ‘Income Distribution Setup Detail’ screen by typing ‘UTDUHIDS’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button. Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the Income Distribution Setup screen.

In this screen, you set up the IDS option by:

Note

Income distribution options are only set up at a unit holder account level, and not at a CIF account level.

Client Information Section

In this section, select the ID of the unit holder for whom you are creating an income distribution setup record.

Unit Holder

12 Character Maximum, Alphanumeric, Mandatory

From the list, select the CIF unit holder for whom you are creating an income distribution setup record.

CIF Number

9 Characters Maximum, Alphanumeric, Display for setting up IDS options for a unit holder

under a CIF Account

Select or specify the number of the CIF Account under which the unit holder for whom you are creating an income distribution setup is found.

When you specify the CIF Number, the name of the corresponding CIF Account is retrieved from the database and displayed alongside the field.

All the unit holder accounts under the CIF Account that you have selected are listed in the drop down list in the Unit Holders for CIF field.

CIF Number is displayed when you select/ locate a Unit Holder by clicking ‘Find UH’ button.

CIF Name

Display

CIF name will be displayed for the selected CIF number.

Unitholder Name

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the non-CIF unit holder for whom you are creating the income distribution options in this screen. The name of the unit holder that you select is displayed alongside the field.

Details Section

In this section, you can indicate the fund, policy and product, the income earnings from which will be distributed according to the IDS options you are creating for the selected unit holder.

Various combinations at which the Unitholder IDS options can be set up, in order of preference are:

In case of LEP transactions, if the UH IDS is not available, the dividend earnings will be reinvested into the default reinvestment fund maintained for the product in the Product Maintenance Details screen. However, if the reinvestment fund is not defined, then the dividend is reinvested into the source fund itself.

You can also indicate the manner in which the income must be distributed.

Fund ID

6 Character Maximum, Alphanumeric, Mandatory for UT transactions

Select the ID of the fund from which the selected investor derives income, which will be distributed according to the IDS options you are creating in this screen.

If the selected investor receives income from many funds, then you must create the IDS options for the income from each fund in this screen as applicable, if so requested by the investor.

When you specify the ID of the fund, the ISIN Code of the fund is displayed in the ISIN Code field.

ISIN Code

12 Characters Maximum; Alphanumeric; Display

ISIN Code will be displayed for the selected Fund ID.

Distribution Mode

Alphanumeric, Mandatory

From the list, indicate the manner in which the selected investor prefers to avail of income earned in the selected fund. This could be any of the following:

Further, the investor can choose to avail of payment either in the form of a check, or an account transfer.

In such a case, the fund into which the earned income is reinvested must belong to the same fund family as the fund from which the income was earned.

Further, the investor can choose to have the income reinvested either in the investor’s own unit holder account or the account of another investor. In the latter case, the investor in whose account the reinvestment is proposed (i.e., the Reinvestment Unit Holder) must belong to the same AMC as the source investor.

Note

For some funds, the option of allowing the investor to decide the income distribution mode is restricted. The default distribution mode specified in the fund rules is considered for such funds, and an investor cannot decide the same at account level by making a specification in this field.

Payment Percentage

Alphanumeric, Optional (Mandatory if distribution mode is either Both or Full Payment)

Specify the percentage of income earned that the investor prefers to receive by way of payment.

Product ID

12 Characters Maximum; Alphanumeric; Optional

Select the ID of product from which the investor derives income, which will be distributed according to the IDS options you are creating in this screen.

This field is not applicable if you are setting up IDS options for UT transactions.

Policy Number

16 Characters Maximum; Alphanumeric; Optional

Select the policy from which the investor derives income, which will be distributed according to the IDS options you are creating in this screen.

This field is not applicable if you are setting up IDS options for UT transactions.

Payment Currency

Alphanumeric, Mandatory

Select the currency in which the unit holder wishes the payment to be made. All currencies maintained in the system are available for selection.

In case Payment mode is transfer then the system looks for a bank account in the opted payment currency for the unit holder. If such an account does not exist, you can choose (in Transfer Details section) any multi-currency account maintained for the unit holder subject to the following conditions:

Also the fund should have a bank account in this currency. In the event of failure of any one of the two criteria an error will be displayed.

Note

The default value here would be the unit holder base currency.

Reinvestment Percentage

Alphanumeric, Optional (Mandatory if distribution mode is either Both or Full Reinvestment)

Specify the percentage of income earned that the investor prefers to reinvest into another fund.

Exempt UH from Minimum Payment Rule

Optional

Check this option to indicate that the unit holder should be exempt from the ‘Minimum Amount for Payment’ threshold specified (in the Income Distribution rule under Fund Corporate Actions) and be paid the dividend proceeds entirely. This option is enabled only when the ‘Distribution Mode’ specified is either ‘Full Payment’ or ‘Both’.

To facilitate this, it is essential that:

Usually, when the dividend amount is lower than the threshold maintained, it is automatically re-invested by the system even if the investor has chosen ‘Payout’ as the distribution mode. If the unit holder has opted for a combination of re-investment and payout and the option above has been chosen, the system:

Note

The dividend amount paid to the investor is in cash and net of tax. If Standing Payment Instructions (SPI) exist for an investor, the system uses the bank details specified here to generate the money transfer. If not, the system issues a cheque

4.1.3 Payment Details Tab

In this section, you can define the option in which the investor can receive income earnings in the form of payment. The investor can receive the payment income either in the form of checks or through account transfers.

If you have chosen either Both or Full Payment as the distribution mode, you must specify all information in this section mandatorily.

Click ‘Payment Details’ tab to enter the details.

Payment Mode

Alphanumeric, Mandatory

From the list, select the mode in which the investor prefers to receive the paid portion of the income earned – either in the form of a check or an account transfer.

Payment Type

Alphanumeric, Mandatory

From the list, indicate whether the check payment instrument must be addressed to the investor (self) or a third party.

You can also indicate that the payment check must be addressed to a broker, by selecting the Entity option. If you choose this option, you must indicate the broker to which the payment must be made.

Third Party Details Section

Note

The payment of income to a third party (i.e. a bank account that is not the investor account or a check that is not in favor of the investor) can be made only if such an installation level option is available.

Third Party Reference

Alphanumeric, Mandatory for ‘Third Party’ payment

Specify the name or reference of the third party for which the check instrument must be made out.

Address

Alphanumeric, Mandatory for ‘Third Party’ payment

Specify the address of the third party for which the check instrument must be made out.

Zip Code

Alphanumeric, Mandatory for ‘Third Party’ payment

Specify the zip code of the city of residence of the third party for which the check instrument must be made out.

City

Alphanumeric, Mandatory for ‘Third Party’ payment

Select the city of residence of the third party for which the check instrument must be made out.

US State/Non-US State

Alphanumeric, Mandatory for ‘Third Party’ payment

Select the state of residence of the third party for which the check instrument must be made out, if the state is a US state.

Entity Details Section

Entity Type

Display

If the payment (check or transfer) is being made to a broker, and you have chosen the Entity option, the Broker entity type is displayed in this field.

Entity ID

Alphanumeric; Mandatory

If you have indicated that the payment (check or transfer) is to be made to a broker, specify the broker in this field. The name of the selected broker is displayed in the Entity Name field.

Entity Name

Display

The entity name will be displayed for the Entity Type selected.

Transfer Details Section

Select Bank Account

Mandatory for Self payment type

Select the bank account to which the transfer payment of the income must be made.

The details of the account you select are displayed in the bank account details fields.

You must select a bank account for which the currency is a valid fund bank account currency so that the income payment transfer can be affected.

Bank

Numeric, Mandatory for Third Party transfer payment

If the payment type is ‘Self’, the bank account associated with the investor is defaulted from the unit holder level.

If you have chosen ‘Third Party’ as the payment type, select the name of the bank in which the transfer account is present, from the drop down list.

Branch

20 Character Maximum, Alphanumeric, Mandatory for Third Party transfer payment

If the payment type is ‘Self’, the branch associated with the investor account is defaulted from the unit holder level.

If you have chosen ‘Third Party’ as the payment type, Specify the branch name of the bank in which the transfer account is present.

A/c No

16 Character Maximum, Alphanumeric, Mandatory for Third Party transfer payment

Specify the number of the transfer account.

A/c Ccy

Alphanumeric, Mandatory for Third Party transfer payment

Specify the currency of the transfer account

The currency specified here must be a valid fund bank account currency.

A/c Type

1 Character Maximum, Alphanumeric, Mandatory for Third Party transfer payment

Select the account type (Fixed, Savings or Current) of the transfer account.

A/ct Holder Name

Alphanumeric, Mandatory for Third Party transfer payment

Specify the name of the holder of the third party account.

IBAN

36 Characters Only; Alphanumeric; Optional

Specify the IBAN (International Bank Account Number) of the account holder.

Payment Type

Alphanumeric, Mandatory

From the list, indicate whether the account transfer payment must be made to one of the investor’s preferred bank accounts (self) or to the bank account of a third party. You can also indicate that the transfer payment must be made to the bank account of a designated broker, by selecting the Entity option in this field

If you select the Self option in this field, all the preferred bank accounts specified for the investor in the unit holder account are listed in the Select Bank Account field. The default designated account is displayed in the bank account fields, and will be reckoned as the account to which the transfer payment must be made. You can choose any of these preferred bank accounts, as requested by the investor.

If you select the Third Party option in this field, then you must specify the bank account details of the third party account to which the transfer must be made, in the bank account fields in this section.

If you select the Entity option, specify the broker into whose bank account the transfer payment must be made, in the Broker field.

4.1.4 Reinvestment Details Tab

Click ‘Reinvestment Details’ tab to enter the details.

Reinvestment Unit Holder ID and Reinvestment Unitholder Name

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the unit holder in whose account the income is to be reinvested. When you select the ID of the reinvestment unit holder, the name of the unit holder is displayed in the Reinvestment Unit Holder Name field.

Reinvestment Unit Holder Name

Display

Reinvestment Fund ID

6 Character Maximum, Alphanumeric, Mandatory

Select the ID of the fund in which the income is to be reinvested. The fund that you select here should be part of the same fund family as the fund from which the income was derived.

Split Percentage

Numeric, Mandatory

Specify the percentage of the derived income that is to be reinvested in the specified reinvestment unit holder's account, in the specified reinvestment fund. You can make any number of such entries, specifying a percentage for each combination. The sum total of all split percentages for all reinvestment unit holder – reinvestment fund ID combinations you have specified must be equal to one hundred percent.

In this section, you can define the option in which the investor can reinvest income earnings from the selected fund. The investor can reinvest earned income in any of the following ways:

Note

Reinvestment is only allowed into or out of a fund if so designated in the Corporate Actions profile for the fund and corporate action type.

If you have chosen either Both or Full Reinvestment as the distribution mode, you must specify all information in this section mandatory..

4.1.5 Routing Details Tab

FCIS provides the option to capture the bank routing details. At the time of transaction input, the routing details specified here are picked up for the combination of fund, transaction type and transaction currency. You can specify the routing details by clicking on 'Routing Details'.

You need to maintain the following details:

Swift Format

Optional

At the time of transaction input, the routing details specified here are picked up for the combination of fund, transaction type and transaction currency.

Bank Charged

Optional

Indicate whether the bank charges must be levied upon the beneficiary, the remitter or must be shared between the two.

Beneficiary Details

Beneficiary

Specify the beneficiary name.

Beneficiary Add 1

Specify the beneficiary address. There are three lines available for the same.

Beneficiary BIC Code

Specify the BIC code of the beneficiary.

Beneficiary Acct No

Specify the account number of the beneficiary.

Beneficiary Code

Specify the code of the beneficiary.

Beneficiary Info

Enter more information about the beneficiary.

Intermediary Details

Intermediary

Specify the intermediary detail.

Intermediary Add 1

Specify the intermediary address. There are three lines available for the same

Intermediary BIC Code

Specify the BIC code of the Intermediary.

Intermediary Acct No

Specify the account number of the Intermediary.

Intermediary Code

Specify the code of the Intermediary.

Intermediary Info

Enter more information about the Intermediary.

Save all the details to proceed or click cancel button to cancel the operation.

4.2 Income Distribution Setup Summary Screen

This section contains the following topics:

4.2.1 Retrieving Income Distribution Setup Record

After you set up the IDS options for an investor in the UH IDS Setup Detail screen, you can perform any of the operations before the record is authorized:

To perform either operation, use the ‘Income Distribution Setup Summary’ screen. You can invoke this screen by typing ‘UTSUHIDS’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can retrieve a previously entered record in the Income Distribution Setup Summary screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

You can also retrieve the individual record detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Product ID by using the combination of % and alphanumeric value as follows:

4.2.2 Editing Income Distribution Setup Record

You can modify the details of Income Distribution Setup parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.2.3 Viewing Income Distribution Setup Record

To view a record that you have previously entered, you must retrieve the same in the INCOME DISTRIBUTION SETUP Summary screen, as follows:

4.2.4 Deleting Income Distribution Setup Record

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.2.5 Authorizing Income Distribution Setup

An unauthorized Income Distribution Setup must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a record, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.2.6 Amending Income Distribution Setup

After an Income Distribution Setup is authorized, it can be modified using the Unlock operation from Action list. To make changes to a transaction after authorization:

When you retrieve an IDS setup record for the purpose of amendment in this screen, it is displayed in the UH IDS Setup Detail screen, in Amend mode. All the non-editable field values are displayed as labels, while the editable fields are enabled for data entry changes.

Note

When you make changes to any authorized record in the system database through the amendment operation, the record with the amended information is saved as an unauthor­ized record in the system. For your amendment changes to be effective, the amended re­cord must be subsequently authorized. When it is authorized, it is saved in the system database as an authorized record with the amendment information, and is effective.

4.2.7 Authorizing Amended Income Distribution Setup Details

An amended Income Distribution Setup record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Agency branch Module.

The process of authorization is subsequently the same as that for normal records.

4.3 Unitholder Deal Maintenance Detail Screen

This section contains the following topics:

4.3.1 Setting Up Deal for Investor

When you map a charge (or load) to a fund, or a load group, the loads are applied to transactions requested by all investors that transact in the fund or load group subject to the evaluated criteria of the loads matching the unit holder and the transaction.

In some cases, the AMC may wish to offer a special, unique load option to be applied on all transactions involving a specific CIF Account or unit holder. This could also be at the request of the investor. This special load option would override the existing load option mapped to the fund or load group. Such a load option is called a ‘deal’ for an investor.

The deal consists of specifying a new return value for any or all of the loads mapped to the fund or load group. You specify the new return value against an existing return value that is based on a percentage or a fixed amount for the load.

You can set up a deal:

The usage of a negotiated deal is different from an over-the-counter load override. Negotiated deals are generally done for special customers with pre-defined business agreements that are exceptional to the normal business rules.

To set up a deal for an investor, you use the ‘Unitholder Deal Maintenance Detail’ screen. You can invoke this screen by typing ‘UTDUHDEL’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

In the UH Deal Setup Detail screen, set up the deal as follows:

4.3.2 Invoking Unitholder Deal Maintenance Detail Screen

Invoke the ‘Unitholder Deal Maintenance Detail’ screen by typing ‘UTDUHDEL’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the ‘Unitholder Deal Maintenance’ screen.

Client Information Section

In this section, select the ID of the unit holder for whom you are specifying deal options.

You can create deals for both authorized and unauthorized unit holders/CIF. If a deal is created for an unauthorized unit holder, the unit holder/CIF record must be authorized before the deal authorization process is put through. Else, the unit holder deal cannot be authorized.

Unit Holder for CIF

12 Character Maximum, Alphanumeric, Mandatory

From the list, select the CIF unit holder for whom you are creating the deal options.

CIF Number

9 Characters Maximum, Alphanumeric, Mandatory for setting up deal options for a unit holder under a CIF Account

Select or specify the number of the CIF Account under which the unit holder for whom you are creating the deal options is found.

When you specify the CIF Number, the name of the corresponding CIF Account is retrieved from the database and displayed alongside the field.

All the unit holder accounts under the CIF Account that you have selected are listed in the drop down list in the Unit Holders for CIF field.

Name

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the non-CIF unit holder for whom you are setting up the deal in this screen. The name of the unit holder that you select is displayed alongside the field.

Deal Details Section

In this section, specify the level at which the deal must be applied for the selected unit holder.

Deal Transaction Number

Optional

Specify the transaction number of the deal.

Status

Display Only

By default, the status of all newly created deals in this screen is Active.

Apply at CIF Level

Optional

Check this box to indicate that the deal options you are setting up must be applicable to all unit holder accounts under the selected CIF customer account.

Note

When the deal is applied at CIF level, a similar set up is not possible at unit holder account level for the same fund / group and load, and vice versa.

Apply Deal At

Optional

From the list, select and indicate whether the deal must be applied on a single load (Load Level), a particular load for a fund (Fund Level), all funds in a load group (Load Group Level) or a Product (Product Level).

Note

If you select the option ‘Product Level’ or ‘Fund Level’, the fields ‘Fund’ and ‘ISIN Code’ will be displayed. These two fields are explained below.

Product ID

Specify the Product for which the deal is to be applied.

Fund ID

Optional if ‘Product Level’, Mandatory if ‘Fund Level’

This field will be displayed only if you have selected the option ‘Product Level’ or ‘Fund Level’ against the field ‘Apply At’.

If you have selected the option ‘Product Level’, you can set up a deal for the investor at the Product level. You have the option of specifying a particular fund to which the ‘Load’ that you select applies. If you do not select a fund, the load that you select will be applicable to all funds mapped to the Product.

If you have selected the option ‘Fund Level’, from the list, select the fund for which the deal would apply, for the selected unit holder.

Deal Based On

Mandatory

Select the deal based on from the following options maintained:

Note

An option "All" is also available to map a load across all the Products for a Policy Holder. If 'All' is selected then the Funds cannot be selected.

Policy Number

Specify the Policy for which the deal is to be applied.

Tax Type

You will be able to select the tax type only if you have selected ‘Apply At’ as ‘Product Level’.

The investor will be charged for tax and the tax rate will be calculated based on the method of tax calculation you specify. The tax can be either calculated as Tax Directives or Tax Instructions.

Tax Directives: Tax Directives is the tax rate provided by the SARS to the investors. The investors, in turn will instruct the tax that has to be deducted. Accordingly, the system will deduct the tax rate specified by the investor instead of the tax slab that is maintained in the ‘Withholding Tax Setup’ screen.

Refer to the chapter ‘Maintaining Reference Information’ for details on maintaining tax slabs.

Based on the tax directive submitted by the investor at the UH level, the UH deal for the tax load will be maintained.

Note

The tax directive or the tax instruction is at the policy level and not at the UH level.

Load Group ID

Alphanumeric, Mandatory if the deal is to be applied for all funds in a load group (Load Group Level)

From the list, select the load group for which the deal would apply, for the selected unit holder. For all transactions for the selected unit holder in any fund belonging to this load group, that occur between the deal start and end dates, the deal will be applied on the selected load.

Load ID

Alphanumeric, Mandatory

From the list, select the load for which you want to specify the new return value as required for the deal. For all transactions for the selected unit holder in the selected fund, that occur between the deal start and end dates, for which the selected load is applicable, the deal will be applied.

Effective Start Date (DD/MM/YYYY)

Date Format, Mandatory

Enter the date from which the deal is to be effective

Specify the date on and following which, the deal options must be applied for transactions for the selected unit holder, in the manner indicated in this record.

Effective End Date (DD/MM/YYYY)

Date Format, Mandatory

Enter the date to which the deal is to be effective.

Specify the last date on which, the deal options must be applied for transactions for the selected unit holder, in the manner indicated in this record.

Load Description

The description of the load selected is defaulted here.

Load Calculation Method

The Load method that is used for calculating the Load is defaulted here when u choose the load ID.

Amount or Percentage

Optional

This field is defaulted depending on whether the Load id selected is an amount based load or a percentage based load.

Specifying Load Details

In this section, you can specify the altered return value for the selected load that is applicable as required for the deal.

The Load details that are maintained gets defaulted in this tab, when the button ‘Default Load Details’ is clicked. For each load that you select in the Load field in the Deal Details section, the following details are displayed in this section, in display mode:

Derived Load Details

In the Override To field, specify the new return value applicable for the load, as required for the deal, and click ‘Exit’ button.

4.4 Unitholder Deal Summary Screen

This section contains the following topics:

4.4.1 Retrieving Deals for Investors

After you set up the Deal options for an investor in the UH Deal Setup Detail screen, you can perform any of the following operations before the record is authorized:

To perform either operation, use the ‘Unitholder Deal Summary’ screen. You can invoke this screen by typing ‘UTSUHDEL’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

The following screen is invoked:

 

You can retrieve a previously entered record in the Unitholder Deal Summary screen, as follows:

  1. Specify any or all of the following details in the Unitholder Deal Summary screen:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual transaction detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Load ID by using the combination of % and alphanumeric value as follows:

4.4.2 Editing Deals for Investors

You can modify the details of Unitholder Deal parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.4.3 Viewing Deals for Investors

To view a record that you have previously entered, you must retrieve the same in the Unitholder Deal Summary screen, as follows:

4.4.4 Deleting Deals for Investors

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.4.5 Authorizing Deals for Investors

An unauthorized Unitholder Deal records must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a transaction, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.4.6 Amending Deals for Investors

After an Unitholder Deal record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a record after authorization:

4.4.7 Authorizing Amended Deals for Investors

An amended Unitholder Deal record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Fund Manager Module and Agency branch Module.

The process of authorization is subsequently the same as that for normal transactions.

When you retrieve a deal record for the purpose of amendment in this screen, it is displayed in the UH Deal Setup Detail screen, in Amend mode. All the non-editable field values are displayed as labels, while the editable fields are enabled for data entry changes.

Note

When you make changes to any authorized record in the system database through the amendment operation, the record with the amended information is saved as an unauthor­ized record in the system. For your amendment changes to be effective, the amended re­cord must be subsequently authorized. When it is authorized, it is saved in the system database as an authorized record with the amendment information, and is effective.

You can cancel an existing negotiated deal by changing the status to cancel. When you authorize this change, the deal set up is nullified.

4.5 LOI Adjust Proc Screen

This section contains the following topics:

4.5.1 Defining Letters of Intent

An investor may promise to invest a certain volume of capital in the funds of the AMC within a certain period. Sometimes, the AMC offers the investor a reduced commission or charge for such investment. Such indemnification from the investor is known as a Letter of Intent.

Any investor that chooses to invest using a Letter of Intent is known as an LOI investor in the system.

Example

An investor, Mrs. Frances Smith, promises to bring in investment worth 500000 USD to the Terry Wynan Growth Fund floated by your AMC, within the space of 3 months dating from 5th May 2003. She indemnifies this through a Letter of Intent. On 5th May 2003, she makes her first investment of 100000 USD.

This means that by the 4th of August, 2003, Mrs. Smith promises to invest the remaining indemnified amount (i.e., 500000 USD – 100000 USD = 400000 USD) in the said fund. She could do so in one transaction worth 400000 USD, or a series of transactions cumulatively worth 400000 USD.

Let us suppose the following charge option for the Terry Wynan Growth Fund, as defined by your AMC for normal investment:

Slab

From Amount

To Amount

Charge percentage per transaction

1

0

100000

5

2

100000

200000

4

3

200000

300000

3

4

300000

400000

2

5

400000

500000

1

Let us suppose that Mrs. Smith fulfills her Letter of Intent investment in the pattern specified below after 5th May 2003.

Transaction Reference Number

Transaction Date

Transaction Amount

LOIREF1

05-05-2003

100000

LOIREF2

20-05-2003

100000

LOIREF3

05-06-2003

100000

LOIREF4

20-06-2003

100000

LOIREF5

05-07-2003

100000

For the transaction LOIREF1, the charge percentage actually applied would be as follows:

Slab for LOIREF1, as a normal transaction: Slab 1

Charge Percentage for normal investment transaction, as per charge setup: 5%

LOI Amount: 500000 USD

Slab for LOI Amount: Slab 5.

Charge Percentage actually applied for LOIREF1: 1% of transaction amount = 1% of 100000 USD.

Similarly, the applicable charge percentages for each of the LOI fulfillment transactions are derived, and they are displayed below:

Transaction Reference Number

Transaction Date

Transaction Amount

Charge actually applied

LOIREF1

05-05-2003

100000

1%

LOIREF2

20-05-2003

100000

1%

LOIREF3

05-06-2003

100000

1%

LOIREF4

20-06-2003

100000

1%

LOIREF5

05-07-2003

100000

1%

Each investment made by Mrs. Smith after 5th May 2003 into the fund, will reduce the Letter of Intent amount remaining to be fulfilled. The amount remaining to be fulfilled is known as the ‘used up’ amount.

With the last investment on 5th July 2003, the Letter of Intent amount is fulfilled, or is said to be ‘used up’.

An investor that has opted to invest through a Letter of Intent can reduce the used up Letter of Intent amount within the defined period, by any of the following transactions:

4.5.2 Non-fulfilling of Letter of Intent

If an investor does not bring in the investment amount promised in a letter of intent, before the expiry of the letter of intent, it constitutes non-fulfilment, and the AMC can recover the applicable commission that would have been due without the letter of intent.

The system monitors the fulfilment of letters of intent. The following facilities are available in the system:

Prior Warning Report

On the date that marks the beginning of the start of the lead time period for the load group, a prior warning report is generated by the system during the Beginning of Day (BOD) process. This report contains information about those letters of intent that have not been fulfilled as on that date.

For instance, if the letter of intent expires on 15th June 2002 and the lead-time specified for the load group is 10 days, a BOD process is executed on 5th June 2002 to ascertain whether the investor has satisfied the letter of intent amount agreed upon. This verification is performed for all letters of intent.

The report identifies and displays the following information for each letter of intent for any investor which is unfulfilled as on the date that marks the beginning of the lead time period:

Post-Adjustment Report

In the event of non-fulfilment of a letter of intent, you can obtain a report (known as the post adjustment report) that displays the actual commission that would have been due on any transactions entered into by the investor, had the letter of intent not been applied.

4.5.3 Setting up Letter of Intent Options for Investor

In Oracle FLEXCUBE Investor Servicing, you can set up any or all of the following options for investors who choose to invest through a Letter of Intent, at the investor’s behest:

Note

For an investor, you can only set up one Letter of Intent options record for a load group.

To set up the options requested by the investor for a Letter of Intent, use the ‘Unit Holder LOI Setup Detail’ screen. You can invoke this screen by typing ‘UTDUHLOI’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

In the UH LOI Detail screen, you must specify all the following details to set up the Letter of Intent option for an investor:

After making your specifications, save your changes by clicking the Save button. This setup must be authorized for it to be effective.

4.5.4 Invoking LOI Adjust Proc Screen

To obtain such a report, you must trigger the computation and storing of the actual commission data, from the system database. You can use the ‘LoI Adjust Proc’ screen for this. You can invoke this screen by typing ‘UTDLOIPR’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button. The ‘LoI Adjust Proc’ screen is displayed.

In this screen, you must specify the LOI number of the corresponding letter of intent, on the next business date after the expiry date of the letter of intent. Click on the Process button to trigger the process of computation and storage. Alternatively, if you do not specify the number, you can trigger the computation of commission data for all such letters of intent that are unfulfilled, after the expiry date.

After you have triggered the computation of commission data, in the LOI Adjustment Processing screen, you can use the LOI Non-Fulfilment menu item in the Batch menu to obtain the actual report.

This report contains details of the actual commission due on each of the transactions without considering the letter of intent. This amount must be recovered from the unit holder by the AMC.

The following details are displayed in the report for each letter of intent for any investor which is unfulfilled as on the next business date after the expiry date:

The commission for each of the LOI transactions entered into during the LOI period is recomputed as if there had been no letter of intent. For each transaction, the actual commission collected and the commission that should have been collected without the LOI is displayed. The sum of the commissions will be subtracted from the actual commission collected and the difference is reported through the report.

LOI investors have the option of designating any single transaction they enter into, as a Letter of Intent transaction. If so designated, the transaction amount in such transactions will reduce the Letter of Intent used up amount.

4.6 Unit Holder LOI Setup Details Screen

This section contains the following topic:

4.6.1 Invoking Unit Holder LOI Detail Screen

Invoke the ‘Unit Holder LOI Setup Detail’ screen by typing ‘UTDUHLOI’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the Unit Holder LOI Setup screen.

UHD/CIFNo

9 Characters Maximum, Alphanumeric, Mandatory for setting up Letter of Intent options for a unit holder under a CIF Account

From the list, select the CIF unit holder for whom you are creating the Letter of Intent options.

When you specify the CIF Number, the name of the corresponding CIF Account is retrieved from the database and displayed alongside the field.

All the unit holder accounts under the CIF Account that you have selected are listed in the drop down list in the Unit Holders for CIF field.

First Name

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the non-CIF unit holder for whom you are setting up the Letter of Intent options in this screen. The First Name of the unit holder that you select is displayed alongside the field.

Apply At

Optional

Check this box to indicate that the Letter of Intent options you are setting up must be applicable to all unit holder accounts under the selected CIF customer account.

LOI Number

System Generated

LOI End Date (DD/MM/YYYY)

Date Format, Mandatory

Indicate the latest date by which the investor would fulfill the amount indemnified in the Letter of Intent.

LOI Start Date (DD/MM/YYYY)

Date Format, Mandatory

Indicate the date on which the period of the Letter of Intent commences. Following this date, the investor will have to fulfill the Letter of Intent.

If a prior period is applicable, then the duration of the prior period is reckoned from the date you specify here.

Prior Period Duration

Optional (Mandatory if prior period is applicable)

Specify the duration of the prior period (in days), to be reckoned from the Letter of Intent period start date.

If a prior period is specified, the used up amount on an LOI must be updated during authorization, based on the transactions that have been allocated before the LOI start date, within the prior period.

Prior Period Applicable

Optional

Check this box to indicate that transactions entered into by the investor prior to the commencement of the Letter of Intent period may also be reckoned for reduction of the used up amount.

LOI Amount

Numeric, Mandatory

Specify the amount indemnified by the investor through the letter of intent.

LOI CCY

Alphanumeric, Mandatory

Select the currency in which the Letter of Intent amount will be reckoned.

Include Standing Instructions

Mandatory

If you want to include Standing Instruction, select ‘Yes’. Else, select ‘No’.

Currency Name

Display

The system displays the name of the currency.

Remarks

255 Characters Maximum, Alphanumeric, Optional

You can enter any narrative or descriptive text about the Letter of Intent here.

Group ID

Alphanumeric, Mandatory

Select the load group in which the investor desires to invest, through the Letter of Intent.

Used-up Amount

Display Only

On any given date after the LOI Start Date, the amount displayed in this field reflects the portion of the Letter of Intent amount that the investor has already fulfilled as on that date.

When you are creating the Letter of Intent options for the investor for the first time, this field contains a ‘zero’ value.

You cannot alter the value displayed in this field at any time.

LOI Status

Display Only

At any given date after the LOI Start Date, the displayed value in this field reflects the status of the Letter of Intent option defined for the selected unit holder.

When you are creating the Letter of Intent options for the investor for the first time, the ‘Active’ option is displayed in this field.

If you have cancelled the Letter of Intent through an amendment, the ‘Cancel’ option is displayed in this field. In this state, the Letter of Intent is no longer valid and will not be validated for during any transactions of the investor.

You cannot alter the status displayed in this field at any juncture.

4.7 Unit Holder LOI Setup Summary Screen

This section contains the following topics:

4.7.1 Retrieving LOI Setup Options for Investor

After you set up the Letter of Intent options for an investor in the UH LOI Setup Detail screen, you can perform any of the following operations before the record is authorized:

To perform either operation, use the ‘Unit Holder LOI Setup Summary’ screen. You can invoke this screen by typing ‘UTSUHLOI’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

The following screen is invoked:

 

You can retrieve a previously entered record in the UH LOI Summary screen, as follows:

  1. Specify any or all of the following details in the UH LOI Summary screen:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

You can also retrieve the individual transaction detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Group ID by using the combination of % and alphanumeric value as follows:

4.7.2 Editing LOI Setup Options for Investor

You can modify the details of UH LOI parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.7.3 Viewing LOI Setup Options for Investor

To view a record that you have previously entered, you must retrieve the same in the UH LOI Summary screen, as follows:

4.7.4 Deleting LOI Setup Options for Investor

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.7.5 Authorizing LOI Setup Options for Investor

An unauthorized UH LOI record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a transaction, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.7.6 Amending LOI Setup Options for Investor

After an UH LOI record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a transaction after authorization:

When you retrieve an LOI record for the purpose of amendment in this screen, it is displayed in the UH LOI Detail screen, in Amend mode. All the non-editable field values are displayed as labels, while the editable fields are enabled for data entry changes.

Note

When you make changes to any authorized record in the system database through the amendment operation, the record with the amended information is saved as an unauthor­ized record in the system. For your amendment changes to be effective, the amended re­cord must be subsequently authorized. When it is authorized, it is saved in the system database as an authorized record with the amendment information, and is effective.

The Effect of Amending Letter of Intent Options

You can amend an LOI setup record for an investor even after the LOI amount fulfilment has begun. During the amendment, if you change the LOI amount, then the charges applicable as well as the used up LOI amount are reckoned from the new, amended LOI amount.

The Effect of Amending a Letter of Intent Fulfilment Transaction

If you amend the amount involved in an LOI transaction for an investor, then the used up LOI amount is computed using the amended transaction amount.

Note

Once a transaction for an LOI investor is designated as an LOI transaction and subse­quently authorized, it cannot be re-designated as a non-LOI transaction during amend­ment.

Cancelling the Letter of Intent Options during Amendment

When you amend the Letter of Intent options for an investor, you can ‘cancel’ the applicability of the options by choosing the Cancel option in the LOI Status field, and saving your changes. If you do so, then the Letter of Intent is invalid and will not be validated for during subsequent transactions for the investor.

4.7.7 Authorizing Amended LOI Setup Options for Investor

An amended UH LOI record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Agency branch Module.

The process of authorization is subsequently the same as that for normal transactions.

4.8 UH Non Tax Limits Detail Screen

This section contains the following topics:

4.8.1 Setting Up Non-Tax Limits for Eligible Investors

In some cases, investors can avail of tax exemption on their holdings in funds, up to certain prescribed limits, based on their eligibility for these exemptions. The limits would apply to holdings in both accumulated and non-accumulated funds. Whenever the prescribed limits are exceeded, the excess holdings would be subject to taxation.

Example

Let us suppose that an investor, Mr. Robert Brown, is eligible for exemption on tax to a limit of 100000 USD, on all his holdings in the AMC, in the following pattern:

Limit in accumulated funds : 20000 USD

Limit in non-accumulated funds : : 80000 USD

Mr. Brown is eligible up to the following limits in the following accumulated funds:

Carey Bugle Memorial Fund : 10000 USD

Eastern Capital Income Fund : 10000 USD

This would mean that if his investment holdings in any of these funds exceed these prescribed limits, the spillover holdings would attract taxation.

In Oracle FLEXCUBE Investor Servicing, you can maintain any such limits for eligible investors. By maintaining these limits and validating them whenever a transaction request is received from such an eligible investor, you can maintain the investor’s taxable and non-taxable holdings separately.

To set up the limits in this screen,

4.8.2 Processing of Non-Tax Limits for Investors

If you have set up tax-exemption limits for eligible investors, the system maintains the taxable and non-taxable holdings of such investors separately.

In Oracle FLEXCUBE Investor Servicing, you can give investors the option of designating each transaction request to be validated against the non-tax limits, if any, set up for them. This means that even in the event of the limits not being used up, the investors can indicate that the proceeds of a transaction be classified as taxable, or non-taxable.

If, on an investor’s request, you classify the transaction as a non-taxable one, then the transaction amount is validated against the investor’s remaining limit for tax exemption.

When in the course of a transaction designated as non-taxable the limits are exceeded, the spillover proceeds are maintained in the system as taxable holdings for the investor.

The non-tax limits maintained for an investor are also reduced when dividend earned in accumulated funds is reinvested.

For more information on how you can configure funds to maintain taxable and non-taxable holdings for investors, refer the chapter “Setting up Fund Rules” in Fund Manager User Manual.

For more information on how to designate a transaction as taxable or non-taxable for eligible investors, refer the chapter “Processing Transaction Requests”.

4.8.3 Invoking UH Non Tax Limits Detail Screen

To set up the prescribed limits for taxable holdings for an eligible investor, you can use the ‘UH Non Tax Limits Detail’ screen. You can invoke this screen by typing ‘UTDUHNTX’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the UH Non-Tax Limits screen.

Client Information Section

In this section, select the ID of the unit holder for whom you are specifying non-tax limit options.

Unit Holder ID

12 Character Maximum, Alphanumeric, Mandatory

Enter the CIF unit holder ID for whom you are creating the non-tax limit options.

First Name

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the non-CIF unit holder for whom you are setting up the non-tax limit options in this screen. The name of the unit holder that you select is displayed alongside the field.

CIF Number

9 Characters Maximum, Alphanumeric, Mandatory for setting up non-tax limit options for a unit holder under a CIF Account

Select or specify the number of the CIF Account under which the unit holder for whom you are creating the non-tax limit options is found.

When you specify the CIF Number, the name of the corresponding CIF Account is retrieved from the database and displayed alongside the field.

All the unit holder accounts under the CIF Account that you have selected are listed in the drop down list in the Unit Holders for CIF field.

System Limit Section

Limit Currency

This is parameterized at the system level.

Limit Amount

This is parameterized at the system level.

Basic Details Section

In this section, you can indicate the total sanctioned limit across all funds for the investor.

Allowed Limit

Numeric, Optional

Specify the total non-tax limit that is applicable for investments in the selected accumulated fund, for the investor. This amount must not be higher than the total sanctioned limit across all funds, which you specified in the Basic Details section in this screen.

The sum of the allowed limits for each accumulated fund must not exceed that portion of the total sanctioned limit available for accumulated funds.

Identification Details

Alphanumeric, Mandatory

Select the type of identification document that is being provided for the non-tax limits option being set up for the unit holder. The identification could be provided as any of the following documents:

Sanction Status

Display Only

At any given date after you set up the non-tax limits for an investor in this screen, the value displayed in this field reflects the status of the same.

When you are creating the non-tax limit options for the investor for the first time, the ‘Active’ option is displayed in this field.

If you have cancelled the non-tax limit through an amendment, the ‘Cancel’ option is displayed in this field. In this state, the limit is no longer valid and will not be validated for during any transactions of the investor.

You cannot alter the status displayed in this field at any juncture.

UH Info Change Status

Alphanumeric. The Maruyu Eligibility Status option is mandatory while setting up a new non-tax record.

While setting up a new non-tax limits record in this screen, you must select the Maruyu Eligibility Status option and specify the date on which the eligibility status document was received, as mandatory information. This date is typically defaulted to the application date.

While specifying any changes to the non-tax limits record during an amendment in this screen, you can select the type of change document that has been received, from the list. The following options are available:

Note

When a transfer transaction is entered for a unit holder with a non-tax limits record, the limit tracking for the amount is done based on the Average Cost and not the Transaction Base Price. Therefore, there could be a residual value for the non-taxable holdings, even if the actual number of units has come down to zero.

Only transfer by units (All Units) and percentage (by 100%) transactions may be entered for unit holders with non-tax limits records. Transfer transactions by amount cannot be entered for such unit holders in the case of change in status.

When an information change has been effected to the unit holder account for which the non-tax limits are being set up, the system prompts you to confirm the change for the non-tax limit investor, and to confirm the receipt of the supporting document. Based on this, it also updates the option in this field as Change Information Status option, and defaults the Document Received Date as the application date of the change.

Document Received Date

Date Format, Mandatory

Specify the date on which the following documents are received:

By default, the application date is reckoned as the date on which the corresponding document is received.

You must specify this date as mandatory information for either a new non-tax limits record or during amendment.

Date of Death

Date Format, Mandatory if the Death Status option is chosen in the Change Information Status field.

During amendment, if you are entering the change information as Death Status in the Change Information Field, specify the date of death in this field.

The Non-Taxable Limits for Accumulated Funds section

In this section, you specify the portion of the total non-taxable limit that is applicable for investments in accumulated funds, for the unit holder. You can define individual limits for individual funds.

Fund ID

Alphanumeric, Optional

Select the fund for which you want to indicate a non-taxable limit for the investor.

Utilized Limit

Display Only

At any given date after you have created the non-taxable limit for a unit holder, the value displayed in this field reflects the portion of the limit defined for the selected accumulated fund that has been used up, as on the date, in investments in the fund. You cannot change this value at any juncture.

Fund Base Currency

Display Only

The value displayed in this field reflects the portion of the limit, in fund base currency, defined for the selected accumulated fund that has been used up, as on the date of viewing, in investments in the fund. You cannot change this value at any juncture.

The Non-Taxable Limits for Non-Accumulated Funds section

In this section, you specify the portion of the total non-taxable limit that is applicable for investments in non-accumulated funds, for the unit holder.

Allowed Limit

Numeric, Optional

Specify the total non-tax limit that is applicable for investments across all non-accumulated funds, for the investor. This amount must not be higher than the total sanctioned limit across all funds that you specified in the previous section in this screen.

Utilized Amount

Display Only

At any given date after you have created the non-taxable limit for a unit holder, the value displayed in this field reflects the portion of the limit defined for non-accumulated funds that have been used up, as on the date, in investments in non-accumulated funds. You cannot change this value at any juncture.

4.9 UH Non Tax Limits Summary Screen

This section contains the following topics:

4.9.1 Retrieving Non-Tax Limits for Investor

After you set up the tax-exemption limits for an investor in the ‘UH Non Tax Limits Setup Detail’ screen, you can perform any of the following operations before the record is authorized:

To perform either operation, use the ‘UH Non Tax Limits Summary’ screen. You can invoke this screen by typing ‘UTSUHNTX’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button. The following screen is invoked:

You can retrieve a previously entered record in the UH Non-Tax Limits Summary screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual transaction detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Unit Holder ID by using the combination of % and alphanumeric value as follows:

4.9.2 Editing Non-Tax Limits for Investor

You can modify the details of UH Non-Tax Limits parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.9.3 Viewing Non-Tax Limits for Investor

To view a record that you have previously entered, you must retrieve the same in the UH Non-Tax Limits Summary screen, as follows:

4.9.4 Deleting Non-Tax Limits for Investor

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.9.5 Authorizing Non-Tax Limits for Investor

An unauthorized UH Non-Tax Limits record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a transaction, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.9.6 Amending Non-Tax Limits for Investor

After a UH Non-Tax Limits record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a record after authorization:

When you retrieve a non-tax limits record for the purpose of amendment in this screen, it is displayed in the UH Non-Tax Limits Setup Detail screen, in Amend mode. All the non-editable field values are displayed as labels, while the editable fields are enabled for data entry changes.

Note

When you make changes to any authorized record in the system database through the amendment operation, the record with the amended information is saved as an unauthor­ized record in the system. For your amendment changes to be effective, the amended re­cord must be subsequently authorized. When it is authorized, it is saved in the system database as an authorized record with the amendment information, and is effective.

If you change the non-tax limits at any level during amendment, the altered value must not fall below the utilized portion of the limits, as on the date of amendment. At any level, the utilized portion of the limits as on the date of viewing or amendment, are displayed in the Utilized Limit (or Amount) field on the screen.

Change of Information for a Non-Tax Limit Record through Amendment

Changes to the non-tax limit record will be necessary in the following situations:

During amendment, you can specify the change that has been made, in the Change Information Status field. You must also specify the date on which the supporting documents for the change were received, in the Document Received Date field.

If the unit holder has been made legally ineligible to avail the non-tax limit, or the eligibility has been legally stopped, you must specify the non-tax limit to zero, in the Total Sanctioned Limit field.

4.9.7 Authorizing Amended Non-Tax Limits for Investor

When an amendment is made to a non-tax limits record for a unit holder, it must be authorized for the information change to take effect in the system and for the resultant processes to be initiated.

When an amendment resulting from the unit holder’s non-tax limit being brought down to zero (i.e., the unit holder has been made legally ineligible or the eligibility has been stopped or withdrawn) is being authorized, the system displays a message stating that the non-taxable holdings of the unit holder will be converted to taxable holdings.

If the authorization is confirmed, the system triggers transactions that will convert the non-taxable units to taxable units. If any provisional holdings are present, the system forces the user to either confirm or reject the same. Redemptions will go through the normal taxation.

The Inheritance Process (Return of Death Status)

In the event of the death of the unit holder for whom a non-tax limit is in operation, you must specify the death, date of death and the receipt of the death certificate in the non-tax limits record, through an amendment. The date of death must be specified as mandatory information.

In the event of death of a unit holder with a non-tax limits record, you must manually enter redemption transactions or transfer transactions, before you specify the return of death status in the non-tax limits record. By this process, the non-taxable units held by the deceased unit holder are either redeemed, or transferred to the account of the legal heir, through a normal transfer transaction. If transferred, the system checks for the non-tax limit eligibility of the transferee unit holder. If the resulting transfer transaction exceeds the non-tax limit specified for the transferee unit holder, the spillover balance is added to the transferee’s taxable holdings.

Redemptions will go through the normal taxation.

4.10 Unit Holder IRRF Preference Detail Screen

This section contains the following topics:

4.10.1 Setting up IRRF Preferences for a Unit Holder

IRRF is equivalent of the income tax, and is paid as the percentage of the profit made post the application of IOF which is a tax paid for the profit made by the Unitholder, if a Unitholder redeems the funds within a stipulated time. Unit Holder IRRF preferences are applicable only for pension funds.

IRRF is usually paid on the last working day of May and November. Apart from paying IRRF on these fixed dates, IRRF is also paid during redemption. Any advance IRRF paid by the customer are adjusted while calculating the IRRF during redemption.

You can opt for optional IRRF load only within the stipulated number of days as specified in PARAMS maintenance. If the IRRF preferences have not been setup from the date of first subscription for a given combination of unit holder and fund within the stipulated number of days, default IRRF will be considered. Whenever judicial blocking or redemption occurs before the preferences have been setup in the system, default IRRF load will be considered for IRRF calculation and you will not be allowed to maintain the preferences then on.

Note

This feature is only available if your installation has requested for it.

4.10.2 Invoking Unit Holder IRRF Preference Detail Screen

To set up unit holder preferences for the IRRF component, use the ‘Unit Holder IRRF Preference Detail’ screen. You can invoke this screen by typing ‘UTDUHIOF’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the Unit Holder IRRF Preference screen.

Client Information Section

Unit Holder ID

Mandatory

Specify the ID of the unit holder ID for whom IRRF details are being maintained.

Unitholder Name

Mandatory

The name of the unit holder is defaulted here once the unit holder Id is provided.

CIF Number

9 Characters Maximum, Alphanumeric, Mandatory

Specify the CIF number of the customer for whom you are maintaining the IRRF details.

CIF Name

Display

On selection of the CIF number, the name of the customer is displayed here.

IRRF Details Section

Fund ID

Mandatory

All the pension funds with a valid fund ID maintained through the General Operating Rules screen for IOF / IRRF Ageing based funds are displayed in the option list.

ISIN Code

12 Characters Maximum; Alphanumeric; Mandatory

Select the ISIN Code of the selected fund. On selection of the fund ID, the ISIN Code is defaulted here.

Fund Name

Display

This displays the name of the fund.

Load id

Mandatory

Select the IRRF Load id from the option list which displays all the IRRF Loads which mapped to the fund.

Load Description

Display Only

On selection of the Fund Id Code, the system automatically displays the description of the fund.

On Selection of the IRRF Load the Load Details Section is displayed.

Note

You are allowed to opt for optional IRRF load only within the stipulated number of days as specified in PARAMS maintenance.

Load Details Section

Load Calculation Method

This is same as one available in Load section in FMG and it defaults from the load maintained.

Amount Or Percentage

This is same as one available in Load section in FMG and it defaults from the load maintained.

After entering all the above details, click on ‘Load Details’ button to view the load details. The Load Details Section displays the following

Note

You cannot amend the unit holder IRRF preferences once it is maintained in the system.

4.11 Unit Holder IRRF Preference Summary Screen

This section contains the following topics:

4.11.1 Retrieving IRRF Preferences for Investors

After you setup Unit Holder IRRF Preference for an investor, in the ‘IRRF UnitHolder Preferences’ screen, you can perform any of the following operations before the record is authorized:

To perform either of the operation, use the ‘Unit Holder IRRF Preference Summary’ screen. You can invoke this screen by typing ‘UTSUHIOF’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can retrieve a previously entered record in the ‘Unit Holder IRRF Preference Summary’ screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual Unit Holder IRRF Preference detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Unit Holder ID by using the combination of % and alphanumeric value as follows:

4.11.2 Editing IRRF Preferences for Investors

You can modify the details of Unit Holder IRRF Preference parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.11.3 Viewing IRRF Preferences for Investors

To view a record that you have previously entered, you must retrieve the same in the Unit Holder IRRF Preference Summary screen, as follows:

4.11.4 Deleting IRRF Preferences for Investors

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.11.5 Authorizing IRRF Preferences for Investors

An unauthorized Unit Holder IRRF Preference record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a Unit Holder IRRF Preference, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the Unit Holder IRRF Preference.

4.11.6 Amending IRRF Preferences for Investors

After an Unit Holder IRRF Preference record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a transaction after authorization:

4.11.7 Authorizing Amended IRRF Preferences for Investors

An amended Unit Holder IRRF Preference record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Fund Manager Module and Agency branch Module.

The process of authorization is subsequently the same as that for normal Unit Holder IRRF Preference.

4.12 Unit Holder NPI Preference Detail Screen

This section contains the following topics:

4.12.1 Invoking Unit Holder NPI Preference Detail Screen

As per Shariah principle of ‘cleansing’ the fund of ‘impure’ income the earnings derived out of any dividend exceeding a certain benchmark cannot be reinvested. This portion of the earnings is classified as Non Permissible Income (NPI). The investor can either choose to receive the NPI component as income or pay the same to a trust.

To set up a Unit Holder NPI payment preference use the ‘Unit Holder NPI Preference Detail’ screen. You can invoke this screen by typing ‘UTDUHNPI’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the Unit Holder NPI Preference screen.

Unit Holder Dividend NPI Preference Section

Unit Holder ID

Mandatory

Specify the ID of the unit holder for whom you are maintaining the NPI preferences in this screen. The CIF number of the investor is displayed in the adjoining field.

CIF Number

9 Characters Maximum, Alphanumeric, Mandatory for closing a unit holder account under a

CIF Account

Select or specify the number of the CIF Account under which the unit holder whose account you are closing is found.

NPI Payment

Optional

If the investor opts to receive the NPI component as income, then select ‘Pay to Unit Holder’ in this field.

Unit Holder Name

12 Character Maximum, Alphanumeric, Mandatory

Enter the name of CIF unit holder whose account you are closing.

Remarks

255 Characters Maximum, Alphanumeric, Optional

You can enter any applicable narrative or descriptive text here.

Click on the Delete icon to delete a record.

Click on the Add icon to add a record

Click ‘Cancel’ button after entering the records.

4.13 Unit Holder NPI Preference Summary Screen

This section contains the following topics:

4.13.1 Retrieving NPI Payment Preferences for Investors

After you setup the NPI preferences for an investor, in the NPI UnitHolder Preferences screen, you can perform any of the following operations before the record is authorized:

To perform either of the operation, use the ‘Unit Holder NPI Preference Summary’ screen. You can invoke this screen by typing ‘UTSUHNPI’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can retrieve a previously entered record in the UH NPI Preference Summary screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual record detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Unit Holder ID by using the combination of % and alphanumeric value as follows:

4.13.2 Editing NPI Payment Preferences for Investors

You can modify the details of UH NPI Preference parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.13.3 Viewing NPI Payment Preferences for Investors

To view a record that you have previously entered, you must retrieve the same in the UH NPI Preference Summary screen, as follows:

4.13.4 Deleting NPI Payment Preferences for Investors

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.13.5 Authorizing NPI Payment Preferences for Investors

An unauthorized UH NPI Preference record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a transaction, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.13.6 Amending NPI Payment Preferences for Investors

After an UH NPI Preference record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a transaction after authorization:

When you retrieve an NPI payment preferences record for the purpose of amendment in this screen, it is displayed in the NPI UnitHolder Preferences screen, in Amend mode. All the non-editable field values are displayed as labels, while the editable fields are enabled for data entry changes.

Note

When you make changes to any authorized record in the system database through the amendment operation, the record with the amended information is saved as an unauthor­ized record in the system. For your amendment changes to be effective, the amended re­cord must be subsequently authorized. When it is authorized, it is saved in the system database as an authorized record with the amendment information, and is effective.

4.13.7 Authorizing Amended Payment Preferences for Investors

An amended UH NPI Preference record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Fund Manager Module and Agency branch Module.

The process of authorization is subsequently the same as that for normal transactions.

4.14 Fund UH Category Minimum Holding Period Details Screen

This section contains the following topic:

4.14.1 Invoking Fund UH Category Minimum Holding Period Details Screen

You can capture the minimum holding period at Fund/ UH category/Transaction Type level using ‘Fund UH Category Minimum Holding Period Detail’ screen.

You can invoke this screen by typing ‘UTDMINHL’ in the field at the top right corner of the Application tool bar and click the adjoining arrow. The screen is displayed below:

In this screen you can maintain the following details:

Fund ID

Mandatory

Specify the fund of the unit holder. You can also select the fund from the option list provided. The list consists of valid and authorized funds maintained in the system.

Fund Name

Display

Based on the ID selected, the name of the fund is displayed.

Transaction Type

Mandatory

Specify the type of the transaction. You can also select the transaction type from the option list provided. The following are the options available:

Description

Display

The description of the transaction type is displayed.

Rule for SI

Optional

Select any of the following option from the drop-down list:

Details Section

UH Category

Mandatory

Specify the category of the unit holder. You can also select the UH category from the option list provided. The list consists of valid and authorized UH Categories maintained in the system.

Description

Display

The description of the selected category is displayed.

Minimum Holding Period

Numeric; Mandatory

Indicate the number of days required for minimum holding.

Mandatory

Optional

Check this option to indicate that the minimum holding period for fund/UH category wise is mandatory. If this option is checked, then on violating minimum holding period, the system displays an error message and the transaction will not be saved.

Click on Cancel to cancel the operation. Click on the save icon to save the details and you will be shown the following message:

The system displays the confirmation message as “Record Successfully Saved”.

Click Ok and in the main screen click Exit button to exit.

The system displays the error message as “Failed to Save the Record”.

If this option is unchecked, then on violating minimum holding period, an overriding message is triggered. However, you can save the transaction by overriding the message.

On saving the redemption/switch/transfer transaction, the system checks if any of the allotted inflow transaction (like subscription, switch in, transfer in) has been captured within the minimum holding period (based on the difference of the transaction date).If it exists, then a overriding message ‘There are some inflow transactions with in the Minimum Holding Period’ is displayed along with any other warnings, if applicable.

Note

Checking minimum holding period maintained at the UH Category level is independent of checking minimum holding period at fund level.

Example

Case 1: Inflow involves transactions like subscriptions, switch-in, SI etc

Current Redemption Transaction Date : 10-May-2008

Minimum Holding Period at Fund/UH Category : 30

Last inflow transaction date for this Fund : 18-Apr-2008

No. of Days elapsed from date of last inflow transaction (10/May/08 -18/Apr/08): 22

Since the difference between last inflow date of the transaction and the current transaction date is less than Minimum Holding period, the system triggers a warning message ‘There are some inflow transactions with in the Minimum Holding Period’. This transaction is saved only if the warning is accepted.

If the number of days elapsed from the date of last inflow transaction to current redemption transaction date is more than the minimum holding period defined at Fund/UH Category for redemption transaction type, the system will save the transaction without the above warning message.

Case 2: Inflow is only because of SI transaction

Rule for SI set up in new maintenance : First SI Transaction Date

The First SI subscription date for this fund : 10-Apr-2008

Current Normal Redemption transaction date : 05-May-2008

Minimum Holding Period for the Fund/UH Cat. : 30

Whether any inflow transactions other than SI : No

No. of Days elapsed from the first SI subscription transaction date (05/May/08 -10/Apr/08) : 25

Since the difference between last inflow date of the transaction and the current transaction date is less than Minimum Holding period, the system triggers a warning message ‘There are some inflow transactions with in the Minimum Holding Period’. This transaction is saved only if the warning is accepted.

If the outflow is because of the SI redemption transaction, the system will save the transaction without any warning.

If there were some other inflow transactions other than SI with in this period, then system will consider Last inflow transaction date instead of the first SI subscription transaction date for arriving at the no. of days elapsed.

4.15 Fund UH Category Minimum Holding Period Summary Screen

This section contains the following topics:

Section 4.15.1, "Retrieving/Viewing minimum holding period at Fund/UH category/transaction level"

4.15.1 Retrieving/Viewing minimum holding period at Fund/UH category/trans­action level

The minimum holding period defined at the fund/UH category/ transaction type level must be authorized by another user. You can use the ‘Fund UH Category Minimum Holding Period Summary’ screen to perform the following operations:

You can invoke this screen by typing ‘UTSMINHL’ in the field at the top right corner of the Application tool bar and click the adjoining arrow. The screen is displayed below:

You can retrieve/view the UH minimum holding period record as follows:

4.15.2 Editing Minimum Holding period at Fund/UH Category/Transaction Level

You can modify the details that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.15.3 Deleting Minimum Holding Period at Fund/UH Category/Transaction Level

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

Note

The maker of the record can only delete the unauthorized record.

4.15.4 Authorizing Minimum Holding Period at Fund/UH Category/Transaction Level

Apart from the maker, someone else must authorize an unauthorized broker deal in the system for it to be processed. To authorize a record:

4.15.5 Amending Minimum Holding Period at Fund/UH Category/Transaction Level

After a UH minimum holding period is authorized, it can be modified using the Unlock operation from Action list. To make changes to a record after authorization:

4.16 UH Status Change Detail Screen

This section contains the following topics:

4.16.1 Closing an Unit Holder Account

The investor may wish at any juncture, to close operations with the AMC. At such a time, the account maintained for the investor in the system database must be closed. To close a unit holder account, use the ‘Unitholder Status Change Detail’ screen. You can invoke this screen by typing ‘UTDACCLS’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

Specify the following information in this screen:

In the event of an account closure request, the holdings of the investor in all funds transacted in must be brought down to zero. Therefore, when you close a unit holder account in the system, the following events take place:

You can close any unit holder account, except in the following circumstances:

4.16.2 Invoking UH Status Change Detail Screen

Invoke the ‘UH Status Change Detail’ screen by typing ‘UTDACCLS’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details in the screen.

Client Information Section

Unit Holder ID

12 Character Maximum, Alphanumeric, Mandatory

Specify the ID of the non-CIF unit holder whose account you are closing. The name of the unit holder that you select is displayed alongside the field.

CIF Number

9 Characters Maximum, Alphanumeric, Mandatory for closing a unit holder account under a

CIF Account

Select or specify the number of the CIF Account under which the unit holder whose account you are closing is found.

CIF Name

When you specify the CIF Number, the name of the corresponding CIF Account is retrieved from the database and displayed alongside the field.

All the unit holder accounts under the CIF Account that you have selected are listed in the drop down list in the Unit Holders for CIF field.

Unit Holder Name

12 Character Maximum, Alphanumeric, Mandatory

Enter the name of CIF unit holder whose account you are closing.

Closure Remarks

255 Characters, Alphanumeric, Mandatory

Specify the reason for closing the account.

Closure Reference No

12 Character Maximum, Alphanumeric, Mandatory

Specify the reference number of the unit holder account that you are closing.

A/C Status Date

Display Only

The application date is displayed in this field, and is reckoned to be the date on which the account closure request is entered. You cannot change it at any juncture.

UH Status

Alphanumeric; Optional

Specify the status for the unit holder whose account is being processed. The statuses are:

To close an account select ‘Closed’; to re-open a closed account select ‘Active’.

Current Status

Display Only

The system will display the current status of the unit holder account. You can re-open a closed account only if the current status of the account is ‘Pending for Closure’.

Re-initiating Unit Holder Account

You can re-instate a unit holder that has been closed or is pending for closure in the ‘Unit Holder Status Change’ detail screen. When you re-initiate a unit holder, the opening date will continue to be the original date of account opening. If required, you can also re-open the existing UH deals and IDS. The system will not re-open these as part of re-initiating the closed UH account.

Refer the section ‘Closing Unit Holder Account’ in this User Manual for more details on the

‘Unit Holder Status Change’ screen.

4.17 Unit Holder Status Change Summary Screen

This section contains the following topics:

4.17.1 Retrieving Status Change

After you setup the NPI preferences for an investor, in the NPI UnitHolder Preferences screen, you can perform any of the following operations before the record is authorized:

To authorize the closure of an investor account, use the ‘Unitholder Status Change Summary’ screen. You can invoke this screen by typing ‘UTSACCLS’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can retrieve a previously entered record in the UNIT HOLDER STATUS CHANGE Summary screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

Note

You can also retrieve the individual record detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

Example

You can search the record for Unit Holder ID by using the combination of % and alphanumeric value as follows:

4.17.2 Editing Status Change

You can modify the details of Unit Holder Status Change parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.17.3 Viewing Status Change

To view a record that you have previously entered, you must retrieve the same in the Unit Holder Status Change Summary screen, as follows:

4.17.4 Deleting Status Change

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.17.5 Authorizing Status Change

An unauthorized Unit Holder Status Change record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a transaction, details of validations, if any, that were overridden by the maker of the transaction during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the transaction.

4.17.6 Amending Status Change

After a Unit holder Status Change record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a record after authorization:

4.17.7 Authorizing Amended Status Change

An amended Unit Holder Status Change record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Fund Manager Module and Agency branch Module.

The process of authorization is subsequently the same as that for normal transactions.

4.18 Auth Rep Maintenance Detail Screen

This section contains the following topic:

4.18.1 Invoking Auth Rep Maintenance Detail Screen

To set up a new authorized representative in the system and associate this representative with the unit holder, you can use the ‘Auth Rep Maintenance Detail’ screen. You can invoke this screen by typing ‘UTDATREP’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button. The ‘Auth Rep Maintenance Detail’ screen opens.

The following screen is invoked:

Select 'New' from the Actions menu in the Application tool bar or click new icon to enter the details of the Auth Rep Maintenance screen.

Auth Rep ID

Alphanumeric, Mandatory

Indicate a unique ID for the authorized representative.

Address

255 characters maximum, Alphanumeric, Mandatory

Specify the address of the authorized representative.

Expiry Date

Date Format

Specify an expiry date for the unit holder authorizing representative being defined. An error message is displayed on saving the transaction if the expiry date is less than the transaction date.

Zip Code

6 Characters Maximum, Alphanumeric, Mandatory

Specify the zip code of the specified city of residence of the authorized representative.

City

20 Character Maximum, alphanumeric, Optional

Specify the name of the city of residence of the authorized representative.

First Name

100 Character Maximum, Alphanumeric, Mandatory

Specify the first name of the authorized representative.

Middle Name

40 Character Maximum, Alphanumeric, Optional

Specify the middle name of the authorized representative.

Last Name

40 Character Maximum, Alphanumeric, Optional

Specify the last name of the authorized representative.

Title

15 Character Maximum, Alphanumeric, Mandatory

Select the applicable title for the name of the authorized representative from the list provided. If you do not find the option you are looking for in the list, specify the same.

State

20 Character Maximum, Alphanumeric, Optional

If the specified city of residence is located in a state outside of the United States of America, specify the name of the state here.

Signature

This displays the signature of the Unit Holder which can be mapped.

Nationality

Alphanumeric; Optional

Select the nationality from the adjoining option list.

Country of Birth

Alphanumeric; Optional

Select the country of birth from the adjoining option list.

Country of Domicile

Alphanumeric; Optional

Select the country of domicile from the adjoining option list.

Country for Address

Alphanumeric; Optional

Select the country for address from the adjoining option list.

Telephone Number

Optional

Specify the telephone number

Category

Alphanumeric; Mandatory

Select the category from the adjoining option list.

Country Code

Optional

Specify the country code.

FATCA Classification

Display

The system displays the FATCA classification type.

FATCA Status

Display

The system displays the FATCA Status based on the FATCA maintenance.

US Indicia Available

Display

The system defaults US Indicia Available as Yes or No depending on the following:

4.19 NotePad of Entities Detail Screen

This section contains the following topic:

Section 4.19.1, "Invoking NotePad of Entities Detail Screen"

4.19.1 Invoking NotePad of Entities Detail Screen

You can use the Entity NotePad facility to maintain information about any entity in the system which would be of relevance to the other entities either at the time of transaction input or in general.

You can invoke the ‘NotePad Of Entities Detail’ screen by typing ‘UTDNTPDE’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

In this screen, specify any entity information by indicating:

Note Number

System generated information

This is a unique Number for the note, generated by the system.

From Entity Type

1 Character Maximum, Alphanumeric, Mandatory

The Entity Type who is creating this information in the form of note pad. This information is taken from the Login Details.

From Entity ID

12 Character Maximum, Alphanumeric, Mandatory

Specify the Entity ID of the entity that is creating this information. This information is taken from the Login details.

About Entity Type

Alphanumeric, Mandatory

Specify the Entity Type about which the Notepad is being created. Choose from the List Box.

About Entity ID

Alphanumeric, Mandatory

Enter ID of the Entity about whom the Notepad is being created.

Notepad

255 Character Maximum, Alphanumeric, Mandatory

Specify a memo text into which information about the entity is keyed in.

4.20 NotePad of Entities Summary Screen

This section contains the following topics:

4.20.1 Retrieving Entity NotePad Information

After you setup the NotePad entity, in the Notepad of Entities screen, you can perform any of the following operations before the record is authorized:

To authorize the NotePad entity, use the ‘NotePad Of Entities Summary’ screen. You can invoke this screen by typing ‘UTSNTPDE’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

You can retrieve a previously entered record in the NotePad of Entities Summary screen, as follows:

Click ‘Search’ button to view the records. All records with the specified details are retrieved and displayed in the lower portion of the screen.

You can also retrieve the individual NotePad detail from the detail screen by doing query in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operation by selecting from the Action list.

You can also search the record by using combination of % and alphanumeric value.

For example,

You can search the record for Note Number by using the combination of % and alphanumeric value as follows:

4.20.2 Editing Entity NotePad Information

You can modify the details of NotePad of Entities parameters that you have already entered into the system, provided it has not been subsequently authorized. You can perform this operation as follows:

4.20.3 Viewing Entity NotePad Information

To view a record that you have previously entered, you must retrieve the same in the NotePad of Entities Summary screen, as follows:

4.20.4 Deleting Entity NotePad Information

You can delete only unauthorized records in the system. To delete a record that you have previously entered:

4.20.5 Authorizing Entity NotePad Information

An unauthorized NotePad of Entities record must be authorized in the system for it to be processed. To authorize a record:

When the checker authorizes a NotePad, details of validations, if any, that were overridden by the maker of the NotePad during the Save operation, are displayed. If any of these overrides results in an error, the checker must reject the NotePad.

4.20.6 Amending Entity NotePad Information

After a NotePad of Entities record is authorized, it can be modified using the Unlock operation from Action list. To make changes to a NotePad after authorization:

4.20.7 Authorizing Amended Entity NotePad Information

An amended NotePad of Entities record must be authorized for the amendment to be made effective in the system. The authorization of amended records can only be done from Fund Manager Module and Agency branch Module.

The process of authorization is subsequently the same as that for normal transactions.