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

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

Unit Holder

Alphanumeric; 12 Characters; Mandatory

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

CIF Number

Display

The system displays the number of the CIF Account under which the unit CIF Number is displayed when you select/ locate a Unit Holder by clicking ‘Find UH’ button.

UH Name

Display

The system displays name of the unit holder.

Click ‘Find UH’ button to query for unit holder details.

Rule Effective Date

Date Format; Mandatory

Select rule effective date from the adjoining calendar.

Details

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

Alphanumeric; 6 Characters; Mandatory

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

Display

ISIN Code will be displayed for the selected Fund ID.

Product ID

Alphanumeric; 10 Characters; 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.

Product Name

Display

The system displays the name of the product for the selected product ID.

Policy Number

Alphanumeric; 16 Characters; 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.

Distribution Mode

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

Numeric; 5 Characters; 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.

Reinvestment Percentage

Display

The system displays the percentage of income earned that the investor prefers to reinvest into another fund.

Payment Currency

Alphanumeric; 3 Characters; Optional

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.

Currency Name

Display

The system displays the name of the currency for the selected payment currency.

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.

Click ‘Payment Details’ tab to enter the details.

Payment Mode

Optional

From the drop-down 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. The list displays the following values:

Payment Type

Optional

From the drop-down list, indicate whether the check payment instrument must be addressed to the investor (self) or a third party. The list displays the following values:

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.

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.

Third Party Details

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; 255 Characters; 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; 255 Characters; Mandatory for ‘Third Party’ payment

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

City

Alphanumeric; 20 Characters; 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; 20 Characters; 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.

Zip Code

Alphanumeric; 20 Characters; 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.

Entity Details

Entity Type

Optional

Select the entity type from the drop-down list. The list displays the following values:

Entity ID

Alphanumeric; 12 Characters; Optional

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

Bank

Alphanumeric; 12 Characters; 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.

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

Alphanumeric; 12 Characters; 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 Type

Alphanumeric; 1 Character; Mandatory for Third Party transfer payment

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

A/c No

Alphanumeric; 16 Characters; Mandatory for Third Party transfer payment

Specify the number of the transfer account.

A/c Ccy

Alphanumeric; 3 Characters; 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 Holder Name

Alphanumeric; 100 Characters; Mandatory for Third Party transfer payment

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

IBAN

Alphanumeric; 40 Characters; Optional

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

4.1.4 Reinvestment Details Tab

Click ‘Reinvestment Details’ tab to enter the details.

 

Reinvestment Unit Holder ID

Alphanumeric; 12 Characters; 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

The system displays the reinvestment unit holder name for the selected reinvestment unit holder ID.

Reinvestment Fund ID

Alphanumeric; 6 Characters; 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; 5 Characters; 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. The drop-down list displays the following values:

Bank Charged

Optional

Indicate whether the bank charges must be levied upon the beneficiary, the remitter or must be shared between the two. The drop-down list displays the following values:

Beneficiary Details

Beneficiary

Alphanumeric; 35 Characters; Optional

Specify the beneficiary name.

Beneficiary Add 1, 2, 3

Alphanumeric; 105 Characters; Optional

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

Beneficiary BIC Code

Alphanumeric; 24 Characters; Optional

Specify the BIC code of the beneficiary.

Beneficiary Acct No

Alphanumeric; 34 Characters; Optional

Specify the account number of the beneficiary.

Beneficiary Code

Alphanumeric; 24 Characters; Optional

Specify the code of the beneficiary.

Beneficiary Info

Alphanumeric; 100 Characters; Optional

Enter more information about the beneficiary.

Beneficiary IBAN

Alphanumeric; 40 Characters; Optional

Specify beneficiary IBAN details.

Intermediary Details

Intermediary

Alphanumeric; 35 Characters; Optional

Specify the intermediary detail.

Intermediary Add 1, 2, 3

Alphanumeric; 105 Characters; Optional

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

Intermediary BIC Code

Alphanumeric; 24 Characters; Optional

Specify the BIC code of the Intermediary.

Intermediary Acct No

Alphanumeric; 34 Characters; Optional

Specify the account number of the Intermediary.

Intermediary Code

Alphanumeric; 24 Characters; Optional

Specify the code of the Intermediary.

Intermediary Info

Alphanumeric; 100 Characters; Optional

Enter more information about the Intermediary.

Intermediary IBAN

Alphanumeric; 40 Characters; Optional

Specify intermediary IBAN details.

Further Credit Details

Further Credit Name

Alphanumeric; 35 Characters; Optional

Specify further credit name.

Further Credit Acct No

Alphanumeric; 35 Characters; Optional

Specify further credit account number.

Reference

Reference1

Alphanumeric; 35 Characters; Optional

Specify the reference details.

Reference2

Alphanumeric; 35 Characters; Optional

Specify the reference details.

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/ UTSFHIDS’ 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 Income Distribution 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

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/ CIF Number

Alphanumeric; 12 Characters; Mandatory

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

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

Name

Display

The system displays the name of the ID of the non-CIF unit holder for whom you are setting up the deal in this screen.

You can search unit holder or CIF number by clicking ‘Find Unit Holder’ button.

Deal Details

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

Deal Transaction Number

Display

The system displays the deal transaction number of the deal while saving.

Status

Mandatory

By default, the status of all newly created deals in this screen is Active. However, you can select the status from the drop-down list. The list displays the following values:

Apply at CIF Level

Mandatory

Select ‘Yes’ 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

Mandatory

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). The options in the drop-down list are as follows:

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

Alphanumeric; 10 Characters; Optional

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

Product Name

Display

The system displays the name of the product for the selected product ID.

Fund ID

Alphanumeric; 6 Characters; 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.

Fund Name

Display

The system displays the name of the fund for the selected fund ID.

Deal Based On

Alphanumeric; 1 Character; Optional

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.

Description

Display

The system displays the description for the selected deal based on details.

Policy Number

Alphanumeric; 16 Characters; Optional

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

Effective Start Date

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

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.

Tax Type

Optional

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. Following are the options available in the adjoining drop-down list:

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.

Instructions

Tax Instructions is the tax rate suggested by the investors to deduct the tax. However, the system will compare the suggested tax rate with that of the tax slabs maintained. If the value of the suggested tax rate is lower than the maintained tax slab, the system can apply the higher value of the tax rate.

Note

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

Aggregation

This is allowed only if ‘Tax Aggregation’ is allowed at product level. If Product ID is selected as ‘All’ in UH deal then the system will look at those products where ‘Tax Aggregation’ is checked for the product.

If tax directive is maintained in UH-Deal then tax instruction or tax aggregation will not be allowed to maintain for the same deal effective period. Tax instruction and tax directive are mutually exclusive.

When a tax directive is maintained in UH-Deal then existing tax instruction or tax aggregation (for the same UH/product/policy/deal effective period), if any, will be marked as cancelled. You cannot maintain multiple directives/instructions/aggregation for the same deal effective period.

When directive is maintained in UH deal, the system will directly use this value to compute WHT. When tax instruction or aggregated value is maintained then system will project WHT based on Tax-instruction and aggregation, higher of these will be used for WHT deduction.

Internally, the system will track whether slab or directive or instruction or Aggregation was applied for each annuity.

When deal is based on flat rate amount, then it needs to apply directly to the Annuity irrespective of the frequency. The return value would be tax amount payable per annuity frequency and not the annualized value.

If both Tax Aggregation and Instructions are maintained then the system will take the rate with higher tax outgo.

In Product maintenance if ‘Annuity Tax Computation basis’ is ‘Policy’, then rebate also will be at Policy level.

In case of any UH deal (Directive/Aggregation/Instruction) rebate will not be given. It will be applied only on Default slab.

If Unit Holder has multiple policies under one product and the deal based on is selected as Flat rate percentage and UH Deal Tax Type is Directive then the annuity tax must be calculated at each Policy gross annualized annuity amount level.

For instance, If POL1 and POL2 are two policies under a UH, with 3000 and 2000 as respective annuities and assuming 10% is the flat rate deal maintained at the UH deal level, then the system should charge an annuity tax of 300 and 200 respectively each month.

When Annuity Tax Computation Basis at product Level is ‘Policy Holder’ and the UH Deal Tax type is ‘Directive’ (deal based on is selected as Flat Rate), the system calculates the annual tax on each policy’s gross annualized annuity amount, if UH has many policies under the same product.

Multiple deals for same deal type/ UH/Product/policy combination will not be supported.

Note

Unit Holder can have multiple policies under one product and if the UH Deal Tax type is directive (deal based on is selected as Flat Rate), the system will compute annuity tax on each policy’s gross annualized annuity amount.

Group ID

Alphanumeric; 16 Characters; Optional

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.

Load ID

Numeric, 5 Characters; 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 Description

Display

The system displays the description for the selected load ID.

Load Calculation Method

Display

The system displays the Load method that is used for calculating the Load when you choose the load ID.

Amount or Percentage

Display

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

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.

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.

4.6 Setting up Letter of Intent Options for Investor

This section contains the following topics:

4.6.1 Invoking Unit Holder LOI Setup Detail Screen

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:

Apply At

Mandatory

Select the applicability of the Letter of Intent setup to all unit holders under a CIF Account from the drop-down list. The list displays the following values:

First Name

Display

The system displays the first name of the unit holder.

UHID/CIF No.

Alphanumeric; 12 Characters; Mandatory

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 option list in the Unit Holders for CIF field.

LOI Number

Alphanumeric; 12 Characters; Optional

Specify the LOI number.

LOI End Date

Date Format; Mandatory

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

LOI Start Date

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 Applicable

Mandatory

Select if prior period is applicable or not from the drop-down list. The list displays the following values:

Prior Period Duration

Numeric; 3 Characters; Mandatory

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.

LOI Currency

Alphanumeric; 3 Characters; Mandatory

Specify the LOI currency in which the Letter of Intent amount will be deemed.

Currency Name

Display

The system displays the name of the currency for the selected LOI currency code.

LOI Amount

Numeric; 18 Characters; Mandatory

Specify the LOI amount.

Include Standing Instructions

Mandatory

Select the applicability of standing instruction transactions as a means of reducing the Letter of Intent used up amount from the drop-down list. The list displays the following values:

Group ID

Alphanumeric; 6 Characters; Mandatory

Specify the load group in which the investor seeks to invest, through the Letter of Intent.

LOI Status

Mandatory

Select the LOI status from the drop-down list. The list displays the following values:

Remarks

Alphanumeric; 255 Characters; Optional

Specify remarks, if any.

Used-up Amount

Numeric; 30 Characters; Optional

On any given date after the LOI Start Date, specify the amount that 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.

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

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/ UTSUHLOA’ 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 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 LOI Adjust Proc Screen

This section contains the following topics:

4.8.1 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.

 

LOI Number

Alphanumeric; 25 Characters; Optional

Specify the LOI number of the corresponding letter of intent, on the next business date after the expiry date of the letter of intent.

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.

4.9 UH Non Tax Limits Detail Screen

This section contains the following topics:

4.9.1 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,

4.9.2 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”.

4.9.3 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/ UTDURATX’ 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

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

Unit Holder ID

Alphanumeric; 12 Characters; Mandatory

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

First Name

Display

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

Alphanumeric; 12 Characters; 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.

You can query unit holder ID and CIF number by clicking ‘Find’ button.

System Limit

Limit Currency

Alphanumeric; 3 Characters; Mandatory

This is parameterized at the system level. However, you can amend this value.

Limit Amount

Numeric; 22 Characters; Mandatory

This is parameterized at the system level. However, you can amend this value.

Basic Details

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

Allowed Limit

Numeric; 28 Characters; Mandatory

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; 3 Characters; 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 system displays the description in the adjacent field.

The identification could be provided as any of the following documents:

Sanction Status

Mandatory

At any given date after you set up the non-tax limits for an investor in this screen, select the sanction status from the drop-down list. The list displays the following values:

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

Numeric; 1 Character; Mandatory

Specify the UH info change status. The system displays the description in the adjacent field.

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.The system displays the description in the adjacent field.

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.

Non-Taxable Limits for Accumulated Funds

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; 6 Characters; Optional

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

Allowed Limit

Numeric; 28 Characters; 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 Limit

Display

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

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.

Non-Taxable Limits for Non-Accumulated Funds

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.

NonAcc Allowed Limit

Numeric; 22 Characters; Mandatory

Specify the non accumulated allowed limit.

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.

4.10 UH Non Tax Limits Summary Screen

This section contains the following topics:

4.10.1 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/ UTSURATX’ 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 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:

4.10.2 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:

4.10.3 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:

4.10.4 Deleting Non-Tax Limits for Investor

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

4.10.5 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.

4.10.6 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.

4.10.7 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.

4.11 Unit Holder IRRF Preference Detail Screen

This section contains the following topics:

4.11.1 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.

4.11.2 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

Unit Holder ID

Alphanumeric; 12 Characters; Mandatory

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

Unitholder Name

Display

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

CIF Number

Display

The system displays the CIF number of the customer for the selected unit holder ID.

You can query unit holder ID by clicking ‘Find UH’ button.

IRRF Details Section

Fund ID

Alphanumeric; 6 Characters; Mandatory

Specify the fund ID. 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.

Fund Name

Display

The system displays the name of the fund for the selected fund ID.

ISIN Code

Display

The system displays the ISIN Code of the selected fund.

Load ID

Numeric; 5 Characters; Mandatory

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

Load Description

Display

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

Click ‘Load Details’ button to view the following details.

Load Calculation Method

Display

The system displays the load maintained.

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

Amount Or Percentage

Display

The system displays the amount or percentage value.

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

The Load Details Section displays the following

Note

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

4.12 Unit Holder IRRF Preference Summary Screen

This section contains the following topics:

4.12.1 Retrieving IRRF Preferences for Investors

After you setup Unit Holder IRRF Preference for an investor, in the ‘IRRF Unit Holder 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:

4.12.2 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:

4.12.3 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:

4.12.4 Deleting IRRF Preferences for Investors

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

4.12.5 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.

4.12.6 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:

4.12.7 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.

4.13 Unit Holder NPI Preference Detail Screen

This section contains the following topics:

4.13.1 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

Unit Holder ID

Alphanumeric; 12 Characters; Mandatory

Specify the ID of the unit holder for whom you are maintaining the NPI preferences in this screen. You can also query for unit holder ID by clicking ‘Find UH’ button.

CIF Number

Display

The system displays the CIF number.

Unit Holder Name

Display

The system displays the name of CIF unit holder for the selected unit holder ID.

NPI Payment

Mandatory

If the investor opts to receive the NPI component as income, then select ‘Pay to Unit Holder’ from drop-down list.

Remarks

Alphanumeric; 255 Characters; Optional

You can enter any applicable narrative or descriptive text here.

4.14 Unit Holder NPI Preference Summary Screen

This section contains the following topics:

4.14.1 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:

4.14.2 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:

4.14.3 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:

4.14.4 Deleting NPI Payment Preferences for Investors

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

4.14.5 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.

4.14.6 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.

4.14.7 Authorizing Amended NPI 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.

4.15 Fund UH Category Minimum Holding Period Details Screen

This section contains the following topic:

4.15.1 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

Alphanumeric; 6 Characters; 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

Alphanumeric; 2 Characters; Mandatory

Specify the type of the transaction. You can also select the transaction type from the option list provided.

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

UH Category

Alphanumeric; 2 Characters; 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; 5 Characters; Optional

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.

4.16 Fund UH Category Minimum Holding Period Summary Screen

This section contains the following topics:

4.16.1 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:

4.16.2 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:

4.16.3 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.

4.16.4 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:

4.16.5 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:

4.17 UH Status Change Detail Screen

This section contains the following topics:

4.17.1 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:

4.17.2 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

Unit Holder ID

Alphanumeric; 12 Characters; 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

Display

The system displays the CIF number for the selected unit holder ID.

Unit Holder Name

Display

The system displays the name of CIF unit holder for the selected unit holder ID.

You can query for unit holder ID by clicking ‘Find UH’ button.

A/C Status Date

Date Format; Optional

Select the account status date on which the account closure request is entered from the adjoining calendar.

Closure Remarks

Alphanumeric; 70 Characters; Optional

Specify the reason for closing the account.

Closure Reference No

Alphanumeric; 12 Characters; Optional

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

UH Status

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

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’.

4.18 Unit Holder Status Change Summary Screen

This section contains the following topics:

4.18.1 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 UnitHolder 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:

4.18.2 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:

4.18.3 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:

4.18.4 Deleting Status Change

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

4.18.5 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.

4.18.6 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:

4.18.7 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.

4.19 Auth Rep Maintenance Detail Screen

This section contains the following topic:

4.19.1 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.

 

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; 12 Characters; Mandatory

Indicate a unique ID for the authorized representative.

Expiry Date

Date Format; Optional

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.

Category

Mandatory

Select the category from the drop-down list. The list displays the following values:

Title

Alphanumeric; 15 Characters; Optional

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.

First Name

Alphanumeric; 105 Characters; Mandatory

Specify the first name of the authorized representative.

Middle Name

Alphanumeric; 105 Characters; Optional

Specify the middle name of the authorized representative.

Last Name

Alphanumeric; 105 Characters; Optional

Specify the last name of the authorized representative.

Date of Birth

Date Format; Optional

Select the date of birth of the guardian from the adjoining calendar.

The system will attach this detail to the unit holder account while creating a minor unit holder account.

Address Line 1 and 2

Alphanumeric; 255 Characters; Optional

Specify the address of the authorized representative.

City

Alphanumeric; 80 Characters; Optional

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

State

Alphanumeric; 20 Characters; 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.

Country

Alphanumeric; 3 Characters; Optional

Select the country code for address from the adjoining option list.

Description

Display

The system displays the description for the selected country code.

Zip Code

Alphanumeric; 10 Characters; Optional

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

Int. Dialing Code +

Alphanumeric; 10 Characters; Optional

Specify the international dialling code.

Telephone 1

Alphanumeric; 15 Characters; Optional

Specify the telephone number.

Int. Dialing Code +

Alphanumeric; 10 Characters; Optional

Specify the international dialling code.

Telephone 2

Alphanumeric; 15 Characters; Optional

Specify the alternative telephone number

Int. Dialing Code +

Alphanumeric; 10 Characters; Optional

Specify the international dialling code.

Cellphone Number

Alphanumeric; 16 Characters; Optional

Specify the cellphone number.

Remarks

Alphanumeric; 255 Characters; Optional

Specify remarks, if any.

Nationality

Alphanumeric; 3 Characters; Optional

Select the nationality from the adjoining option list.

Description

Display

The system displays the description for the selected nationality.

Country of Domicile

Alphanumeric; 3 Characters; Optional

Select the country of domicile from the adjoining option list.

Description

Display

The system displays the description for the selected

Country of Birth

Alphanumeric; 3 Characters; Optional

Select the country of birth from the adjoining option list.

Description

Display

The system displays the description for the selected country of birth.

US Indicia Available

Display

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

FATCA Status

Display

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

FATCA Classification

Display

The system displays the FATCA classification type.

Description

Display

The system displays the FATCA classification description.

Click ‘Show Image’ button to upload the necessary documents. Click ‘Browse’ button to browse the required documents and then click on ‘Upload’ button. The documents will be uploaded.

 

4.20 Auth Rep Maintenance Summary

This section contains the following topics:

4.20.1 Retrieving a Record in Auth Rep Maintenance Summary Screen

You can retrieve a previously entered record in the Summary Screen, as follows:

Invoke the ‘Auth Rep Maintenance Summary’ screen by typing ‘UTSATREP’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button and specify any or all of the following details in the corresponding details.

 

Click ‘Search’ button to view the records. All the 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 querying in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operations by selecting the operation from the Action list. You can also search a record by using a combination of % and alphanumeric value

4.20.2 Editing Auth Rep Maintenance Record

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

Click Save to save your changes. The Auth Rep Maintenance Detail screen is closed and the changes made are reflected in the Auth Rep Maintenance Summary screen.

4.20.3 Viewing Auth Rep Maintenance Record

To view a record that you have previously input, you must retrieve the same in the Auth Rep Maintenance Summary screen as follows:

4.20.4 Deleting Auth Rep Maintenance Record

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

4.20.5 Authorizing Auth Rep Maintenance Record

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

4.20.6 Amending Auth Rep Maintenance Record

After a Auth Rep Maintenance record is authorized, it can be modified using the Unlock operation from the Action List. To make changes to a record after authorization:

4.20.7 Authorizing Auth Rep Maintenance Record

An amended Auth Rep Maintenance record must be authorized for the amendment to be made effective in the system. The authorization of amended records can be done only from Fund Manager Module and Agency Branch module.

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

4.21 NotePad of Entities Detail Screen

This section contains the following topic:

Section 4.21.1, "Invoking NotePad of Entities Detail Screen"

4.21.1 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.

 

You can specify the following details:

Note Number

Display

The system displays the unique Number for the note.

From Entity Type

Display

The system displays 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

Display

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

About Entity Type

Mandatory

Select the entity about which the information is being entered from the drop-down list. The lisy displays the following values:

About Entity ID

Alphanumeric; 12 Characters; Mandatory

Specify Entity about whom the Notepad is being created.

Notepad

Alphanumeric; 255 Characters; Mandatory

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

4.22 NotePad of Entities Summary Screen

This section contains the following topics:

4.22.1 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:

4.22.2 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:

4.22.3 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:

4.22.4 Deleting Entity NotePad Information

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

4.22.5 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.

4.22.6 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:

4.22.7 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.

4.23 Agency Branch Account Officer Maintenance Detail

This section contains the following topics:

4.23.1 Invoking Agency Branch Account Officer Maintenance Detail Screen

You can map the Agency branch and Account officer to the respective agent code, from this screen. You can invoke ‘Agency Branch Account Officer Maintenance Detail’ screen by typing ‘UTDAGTAO’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

You can specify the following details:

Basic Information

Agent Code

Alphanumeric; 12 Characters; Mandatory

Specify the agent code. Alternatively, you can select agent code from the option list. The list displays all valid agent code maintained in the system.

Effective Date

Date Format; Mandatory

Select the effective date from the adjoining calendar.

Agency Branch Account Officer Mapping

Agency Branch

Alphanumeric; 12 Characters; Mandatory

Specify the agent branch. Alternatively, you can select agent branch from the option list. The list displays all valid agent branch maintained in the system.

Account Officer

Alphanumeric; 12 Characters; Mandatory

Specify the account officer details. Alternatively, you can select account officer details from the option list. The list displays all valid account officer details maintained in the system.

Default

Mandatory

Select ‘Yes’ from drop-down list to select default

Account Officer Name

Display

The system displays the name of the selected account officer.

4.24 Agency Branch Account Officer Maintenance Summa­ry

This section contains the following topics:

4.24.1 Retrieving a Record in Agency Branch Account Officer Maintenance Summary Screen

You can retrieve a previously entered record in the Summary Screen, as follows:

Invoke the ‘Agency Branch Account Officer Maintenance Summary’ screen by typing ‘UTSAGTAO’ in the field at the top right corner of the Application tool bar. Click on the adjoining arrow button and specify any or all of the following details in the corresponding details.

 

Click ‘Search’ button to view the records. All the 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 querying in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operations by selecting the operation from the Action list. You can also search a record by using a combination of % and alphanumeric value

4.24.2 Editing Agency Branch Account Officer Maintenance Record

You can modify the details of Agency Branch Account Officer Maintenance record that you have already entered into the system, provided it has not subsequently authorized. You can perform this operation as follows:

Click Save to save your changes. The Agency Branch Account Officer Maintenance Detail screen is closed and the changes made are reflected in the Agency Branch Account Officer Maintenance Summary screen.

4.24.3 Viewing Agency Branch Account Officer Maintenance Record

To view a record that you have previously input, you must retrieve the same in the Agency Branch Account Officer Maintenance Summary screen as follows:

4.24.4 Deleting Agency Branch Account Officer Maintenance Record

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

4.24.5 Authorizing Agency Branch Account Officer Maintenance Record

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

4.24.6 Amending Agency Branch Account Officer Maintenance Record

After a Agency Branch Account Officer Maintenance record is authorized, it can be modified using the Unlock operation from the Action List. To make changes to a record after authorization:

4.24.7 Authorizing Amended Agency Branch Account Officer Maintenance Re­cord

An amended Agency Branch Account Officer Maintenance record must be authorized for the amendment to be made effective in the system. The authorization of amended records can be done only from Fund Manager Module and Agency Branch module.

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

4.25 Account Officer IFA Maintenance Detail

This section contains the following topics:

4.25.1 Invoking Account Officer IFA Maintenance Detail Screen

You can map the Account Officer and the IFA using ‘Account Officer IFA Maintenance Detail’ screen. You can invoke ‘Account Officer IFA Maintenance Detail’ screen by typing ‘UTDAOIFA’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

You can specify the following details:

Account Officer IFA Mapping

Agent Code

Alphanumeric; 12 Characters; Mandatory

Specify the agent code. Alternatively, you can select agent code from the option list. The list displays all valid agent code maintained in the system.

Agent

Display

The system displays the description of the selected agent code.

Agency Branch

Alphanumeric; 12 Characters; Mandatory

Specify the agency branch code. Alternatively, you can select agency branch code from the option list. The list displays all valid agency branch code maintained in the system.

Branch Name

Display

The system displays the name of the selected agency branch code.

Effective Date

Date Format; Mandatory

Select the effective date from the adjoining calendar.

Account Officer

Alphanumeric; 12 Characters; Mandatory

Specify the account officer. Alternatively, you can select account officer from the option list. The list displays all valid account officer maintained in the system.

Account Officer Name

Display

The system displays the name of the selected account officer ID.

IFA

Alphanumeric; 12 Characters; Mandatory

Specify the IFA code. Alternatively, you can select IFA code from the option list. The list displays all valid IFA code maintained in the system.

IFA Name

Display

The system displays the name of the selected IFA code.

Default

Mandatory

Select the default status from the drop-down list. The list displays the following values:

4.26 Account Officer IFA Maintenance Summary

This section contains the following topics:

4.26.1 Retrieving a Record in Account Officer IFA Maintenance Summary Screen

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

Invoke the ‘Account Officer IFA Maintenance Summary’ screen by typing ‘UTSAOIFA’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button and specify any or all of the following details in the corresponding details.

Click ‘Search’ button to view the records. All the 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 querying in the following manner:

You can perform Edit, Delete, Amend, Authorize, operations by selecting the operation from the Action list. You can also search a record by using a combination of % and alphanumeric value

4.26.2 Editing Account Officer IFA Maintenance Record

You can modify the details of Account Officer IFA Maintenance record that you have already entered into the system, provided it has not subsequently authorized. You can perform this operation as follows:

Click Save to save your changes. The Account Officer IFA Maintenance Detail screen is closed and the changes made are reflected in the Account Officer IFA Maintenance Summary screen.

4.26.3 Viewing Account Officer IFA Maintenance Record

To view a record that you have previously input, you must retrieve the same in the Account Officer IFA Maintenance Summary screen as follows:

4.26.4 Deleting Account Officer IFA Maintenance Record

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

4.26.5 Authorizing Account Officer IFA Maintenance Record

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

4.26.6 Amending Account Officer IFA Maintenance Record

After a Account Officer IFA Maintenance record is authorized, it can be modified using the Unlock operation from the Action List. To make changes to a record after authorization:

4.26.7 Authorizing Amended Account Officer IFA Maintenance Record

An amended Account Officer IFA Maintenance record must be authorized for the amendment to be made effective in the system. The authorization of amended records can be done only from Fund Manager Module and Agency Branch module.

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

4.27 Agent Price Basis Detail

This section contains the following topics:

4.27.1 Invoking Agent Price Basis Detail Screen

You can maintain component details in the ‘Agent Price Basis Detail’ screen for the required fund, transaction type, agent code and account type combination for Formula based funds.

You can invoke ‘Agent Price Basis Detail’ screen by typing ‘UTDAGTPR’ 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.

 

You can specify the following details:

Basic Information

Fund ID

Alphanumeric; 6 Character; Mandatory

Specify the fund code for which you want to maintain the price basis. Alternatively you can select fund ID from the option list. The list displays all valid fund ID maintained in the system.

Effective Date

Date Format; Mandatory

Select the Effective date for which you want to maintain the price basis from the adjoining calendar.

Transaction Type

Alphanumeric; 15 Character; Mandatory

Specify the transaction type for which you want to maintain the price basis. Alternatively you can select transaction type from the option list. The list displays all valid transaction type maintained in the system.

Transaction Name

Display

The system displays the name of the selected transaction type.

Agent Code

Alphanumeric; 12 Character; Mandatory

Specify the agent code for which you want to maintain the price basis. Alternatively you can select agent code from the option list. The list displays all valid agent code maintained in the system.

Name

Display

The system displays the name of the selected agent code.

Account Type

Alphanumeric; 2 Character; Mandatory

Specify the Account type for which you want to maintain the price basis. Alternatively you can select account type from the option list. The list displays all valid account type maintained in the system.

Description

Display

The system displays the description of the selected account type.

Component Information

Component ID

Alphanumeric; 10 Character; Mandatory

Specify the component ID for which you want to maintain the price basis. Alternatively you can select component ID from the option list. The list displays all valid component ID maintained in the system.

Component Description

Display

The system displays the description of the selected component ID.

Default Value

Mandatory

Select the default value from the drop-down list. The list displays the following values:

4.28 Agent Price Basis Summary

This section contains the following topics:

4.28.1 Retrieving a Record in Agent Price Basis Summary Screen

You can retrieve a previously entered record in the Summary Screen, as follows:

Invoke the ‘Agent Price Basis Summary’ screen by typing ‘UTSAGTPR’ in the field at the top right corner of the Application tool bar. Click on the adjoining arrow button and specify any or all of the following details in the corresponding details.

 

Click ‘Search’ button to view the records. All the 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 querying in the following manner:

You can perform Edit, Delete, Amend, Authorize, Reverse, Confirm operations by selecting the operation from the Action list. You can also search a record by using a combination of % and alphanumeric value

4.28.2 Editing Agent Price Basis Record

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

Click Save to save your changes. The Agent Price Basis Detail screen is closed and the changes made are reflected in the Agent Price Basis Summary screen.

4.28.3 Viewing Agent Price Basis Record

To view a record that you have previously input, you must retrieve the same in the Agent Price Basis Summary screen as follows:

4.28.4 Deleting Agent Price Basis Record

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

4.28.5 Authorizing Agent Price Basis Record

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

4.28.6 Amending Agent Price Basis Record

After a Agent Price Basis record is authorized, it can be modified using the Unlock operation from the Action List. To make changes to a record after authorization:

4.28.7 Authorizing Amended Agent Price Basis Record

An amended Agent Price Basis record must be authorized for the amendment to be made effective in the system. The authorization of amended records can be done only from Fund Manager Module and Agency Branch module.

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

4.29 AMC Agent SLA Maintenance Summary

This section contains the following topics:

4.29.1 Invoking AMC Agent SLA Maintenance Summary Screen

You can set the distribution hierarchy for the agent in a AMC using ‘AMC Agent SLA Maintenance Detail’ screen. You can invoke this screen by typing ‘UTDAMCSL’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button.

 

You can specify the following details:

AMC

Alphanumeric; 12 Characters; Mandatory

Specify the AMC ID for which the Agent hierarchy needs to be mapped. Alternatively, you can select AMC ID from the option list. The list displays all valid AMC ID maintained in the system.

AMC Name

Display

The system displays the AMC name of the selected AMC ID.

Agent ID

Alphanumeric; 12 Characters; Mandatory

Specify the Agent ID that needs to be mapped with the AMC. Alternatively, you can select Agent ID from the option list. The list displays all valid Agent ID maintained in the system.

Agent Name

Display

The system displays the agent name of the selected agent ID.

SLA Type

Numeric; 22 Characters; Mandatory

Specify the SLA type. Alternatively, you can select SLA type from the option list. The list displays all valid SLA type maintained in the system.

SLA Type Description

Display

The system displays the description for the selected SLA type.

4.30 Tax Credit

This section contains the following topics:

4.30.1 Invoking Tax Credit Screen

You can maintain tax credit details using ‘Tax Credit’ screen. You can invoke this screen by typing ‘UTDTAXCR’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow.

 

You can specify the following details:

Fund ID

Alphanumeric; 6 Characters; Optional

Specify the fund ID. Alternatively, you can select fund ID from the option list. The list displays all valid fund ID maintained in the system.

Account Type

Alphanumeric; 1 Character; Optional

Specify the account type. Alternatively, you can select account type from the option list. The list displays all valid account type maintained in the system.

Process Mode

Optional

Select the mode of processing from the drop-down list. The list displays the following values:

Payment Number

Alphanumeric; 1 Character; Optional

Specify the payment number. Alternatively, you can select payment number from the option list. The list displays all valid payment number maintained in the system.

Tax Credit Date

Display

The system displays the tax credited date.