3.15 Process Fund UH Category Minimum Holding Period Detail

This topic provides the systematic instructions to capture the minimum holding period at Fund/ UH category/Transaction Type level.

1. On Home screen, type UTDMINHL in the text box, and click Next.
   The Fund UH Category Minimum Holding Period Detail screen is displayed.

   Figure 3-17 Fund UH Category Minimum Holding Period Detail

   
   

   
   Description of "Figure 3-17 Fund UH Category Minimum Holding Period Detail"

   
   
2. On Fund UH Category Minimum Holding Period Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 3-14 Fund UH Category Minimum Holding Period Detail - Field Description

   Field	Description
   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: First SI Transaction Date – On selecting this option, the system validates the minimum holding period by considering the SI first generation date i.e. the transaction date of the first transaction generated by the SI, which has not been reversed. Default – On selecting this option, the minimum holding period will be validated considering last inflow date of transaction and current transaction date.
   Details	The section displays the following fields.
   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.

3. If this Mandatory option is checked, then on violating minimum holding period, the system displays an error message and the transaction will not be saved.
4. Click Cancel to cancel the operation.
5. Click Save to save the details and the following message will be shown.
   The system displays the confirmation message as Record Successfully Saved.
6. Click Ok and in the main screen click Exit button to exit.
   The system displays the error message as Failed to Save the Record.
7. If this Mandatory 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.