7.16 Process Target Based Fee

This topic explains the systematic instructions to maintain target based brokerage at AMC-Fund-Broker level.

On achieving target sales for a given period, an agent/broker is paid an additional fee/ brokerage. The broker/agent is eligible to receive a commission on total sales done by him in a given period.
  1. On Home screen, type UTDTGBFE in the text box, and click Next.
    The Target Based Fee screen is displayed.

    Figure 7-21 Target Based Fee


    Description of Figure 7-21 follows
    Description of "Figure 7-21 Target Based Fee"

  2. On Target Based Fee screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 7-20 Target Based Fee - Field Description

    Field Description
    AMC ID Alphanumeric; 12 Characters; Mandatory

    Specify the AMC. You can also select the AMC for target based fee from the adjacent option list. The list displays all the valid authorized values maintained in the system.

    You can select ALL option if you want to select all the valid AMC maintained in the system.

    Load ID Numeric; 5 Characters; Mandatory

    Specify the Load. You can also select the load from the adjacent option list. The authorized loads having the Slab Mode option selected as Date Amount will be displayed in the option list.

    Load Description Display

    The description of the selected load is displayed.
    Fund ID Alphanumeric; 6 Characters; Mandatory

    Specify the fund. You can also select the fund from the adjacent option list. The list displays all the valid authorized values maintained in the system.

    You can select ALL option if you want to select all the valid funds maintained in the system.

    Fund Name Display

    The description of the selected fund is displayed.
    Broker ID Alphanumeric; 12 Characters; Mandatory

    Specify the broker ID. You can also select the broker from the adjacent option list. The list displays all the valid authorized values maintained in the system.

    You can select ALL option if you want to select the entire valid broker maintained in the system.

    Broker Name Display

    The description of the selected broker is displayed.
    Process Date Date Format; Mandatory

    Specify the processing date. The target based brokerage is processed on this date. If the date maintained here is a system holiday, then the system will process the brokerage only on the next working day.
    Reference Number Display

    On saving the transaction, a unique reference number is generated.
    Processed Display

    The system displays Yes value if the transaction is processed on the processed date.

    During EOD batch, all the unprocessed transactions with processing date less than or equal to application date will be considered for processing. Based on the load setup, all the transactions with transaction date within the date range specified in the load will be considered. Transaction amount (in fund base currency) will be the basis amount for fee computation.

    In case of unit based transaction, units applied and latest available NAV will be used to derive the basis amount. If latest NAV is not available, then the system will use the par value. Transaction with in-complete exchange rate details will not be considered for processing. The computed brokerage will be stored in the system.