2.62 Process Element Maintenance Detail

This topic provides the systematic instructions to maintain Data Elements.

Data elements are maintained to calculate the performance fee associated with hedge funds. Data elements can be of either of the following two types:
  • Non-Derived or factory shipped - e.g. HWM, SUB_PRICE (Subscription price), RED_PRICE (Redemption price) etc.
  • Derived - you can define your own set of elements to use while building the performance fee formula

Some of the derived elements like APFPS, CL_FACTOR, RED_AMT, SUB_AMT, RED_UNITS, SUB_UNITS and PF_VAL are also factory shipped.

You can capture the details related to derived data elements in Element Maintenance Detail screen.

  1. On Home screen, type UTDENMNT in the text box, and click Next.
    The Element Maintenance Detail screen is displayed.

    Figure 2-72 Element Maintenance Detail


    Description of Figure 2-72 follows
    Description of "Figure 2-72 Element Maintenance Detail"

  2. On Element Maintenance Detail screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 2-64 Element Maintenance Detail - Field Description

    Field Description
    Element ID

    Alphanumeric; 20 Characters; Mandatory

    Specify a unique code to identify the data element.
    Element Description Alphanumeric; 255 Characters; Mandatory

    Specify a suitable description for the element.
  3. You can also modify an existing derived data element in this screen. The tables given below list the factory-shipped, non-derived and derived data elements:

    Table 2-65 Non-derived (Factory Shipped)

    Element ID Element Description
    HWM Latest High Water Mark
    HWM_RED High Water Mark at time of redemption
    HWM_SUB High Water Mark at time of subscription
    HWMHR_RED (High Water Mark+Hurdle Rate) at time of redemption
    HWMHR_SUB (High Water Mark+Hurdle Rate) at time of subscription
    HWMHR_LAT Latest (High Water Mark+Hurdle Rate)
    END_PRC End Price (Price at period end)
    SUB_PRC Subscription Price
    RED_PRC Redemption Price
    GAV Latest Gross Asset Value
    GAV_SUB Gross Asset Value ( On Subscription Date)
    GAV_RED Gross Asset Value ( On Redemption Date)
    LOT_HWM_RED Lot level High Water Mark at time of redemption
    LOT_HWM_SUB Lot level High Water Mark at time of subscription
    LOT_HWMHR_RED (Lot level High Water Mark+Hurdle) at time of redemption
    LOT_HWMHR_SUB (Lot level High Water Mark+Hurdle) at time of subscription
    TXN_UNITS Transaction Units
    PF_RATE Performance Fee Rate defined at Fund/Investor Category level

    Table 2-66 Derived (Factory Shipped)

    Element ID Element Description
    APFPS_IN Accrued Performance fee per share calculated during inflow transactions
    CLFAC_IN Contingent Liquidation Factor calculated during inflow transactions
    RED_AMT Redemption Amt
    SUB_AMT subscription Amt
    RED_UNITS Redemption units
    SUB_UNITS subscription units
    PF_VAL PF Value
    CL_VAL Contingent liquidation Value calculated during inflow(Will be used as an expression element id to calculate the total CL value, This represent the additional performance fee investor needs to pay to the fund manager in case of Early redemption /Period End, if Sub Price < HWM + hurdle during subscription and during redemption GAV > red / end price.

Operations on Data Elements

  1. New –an unauthorized record will be created. If you have rights for auto Authorization, the record will be authorized
  2. Modify – an unauthorized record can be modified by the maker (edit rights required)
  3. Delete – an unauthorized record can be deleted by the maker. You can not delete the unauthorized record created by amendment (delete rights required).
  4. Authorize – an unauthorized record can be authorized by anyone other than the maker (authorize rights required)