3.11.1 Process the Fund Price Maintenance

This topic provides the instructions to invoke fund price maintenance screen details.

The Real NAV for the fund for a specific date must be declared, according to the frequency specified for this declaration.

To set up the fund prices, use the Fund Price Detail screen.

  1. On Home screen, type UTDFPRIC in the text box and click Next.
    The Fund Price Detail screen is displayed.

    Figure 3-11 Fund Price Detail


    Description of Figure 3-11 follows
    Description of "Figure 3-11 Fund Price Detail"

  2. Select New from the Actions menu in the Application tool bar or click New icon to enter the details of the new fund price.
  3. On Fund Price Detail screen, specify the details.

    After you have set up and authorized a fund, you may enter the Fund Price on the Next Price Declare Date that you have specified in the General Operating Rules. Subsequently, you can enter the Fund Price according to the price declare frequency that you have specified in the General Operating Rules for the fund.

    For more information on fields in the screen, refer the below table.

    Table 3-14 Fund Price Detail

    Field Description
    Fund ID Alphanumeric; 6 Characters; Mandatory

    Select the Fund for which the price is being set, from the options provided.

    Effective Date Date Format; Mandatory

    Specify the Effective Date.The price entered in this screen is effective from the system date.

    Fund Base Currency Display

    When the fund is selected, the Fund Base Currency for the selected fund is picked up from the Fund Demographics profile and displayed here.

    ISIN Code Display

    The system displays the ISIN Code of the selected Fund ID.

    NAV Computation

    You need to select the option based on which the Fund Price is to be calculated. The following options are available for calculation of Fund Price.

    Table 3-15 Fund Price Detail

    Field Description
    Net Asset Value Optional

    If you choose this option, you must specify the Real NAV per unit, and the system will compute the fund price per transaction, based on whether the fund is formula-based.
    Total Assets Optional

    If you choose this option, you must specify the Total Assets, and based on the outstanding units, the system computes the net asset value.
    Formula Builder Optional

    If you choose this option, you must specify values for all the user input fields, and the system computes the Net Asset Value.
    Real NAV/Lot Numeric; 22 Characters; Mandatory

    Enter the Real NAV per Unit for the period when the price is being set.

    This is applicable only if NAV is selected in the Total assets/ NAV / Formula Builder option. If Total Assets is selected, then this is calculated by the system.

    If entered, the system validates this value against the fluctuation limits set for the selected transaction type, in the selected fund, in the Transaction Processing Rules. If the limit is exceeded, an override is sought while saving the price.
    Floor Price Numeric; 22 Characters; Mandatory

    Enter the Floor Price for the fund. The floor price is to indicate the lowest price that the fund can offer. Based on the loads, if the net transaction price happens to be lower than this floor price then, the floor price would be considered as net transaction price. This will typically be in case of a redemption or a switch transaction.
    FI Outstanding Units Display

    The system displays the number of Foreign Investors’ Outstanding Units for the fund that is also calculated by the system. The units displayed prior to allocation are of the previous period and post-allocation, the Foreign Investors’ units will form the balance for the effective day.

    The Foreign Investors Outstanding Units should always be below the figure of one hundred trillion, at any point of time.
    Outstanding Units Display

    This displays the number of Total Outstanding Units for the fund that is calculated by the system. The units displayed prior to allocation are of the previous period. Post-allocation, the outstanding units will become the balances for the effective day.

    The Total Outstanding Units should never exceed or be equal to the figure of ten thousand trillion, at any point of time.

    Reflect in Trading Optional

    Select Yes option from drop-down option if you wish to make this fund price applicable for an investor who maintains a trading account under this fund.

    Swinging Price Basis Display

    The system displays whether mid/offer/bid price is applied for the fund.
    Swinging Price Numeric; 30 Characters; Optional

    Specify the swinging price which is applied for allocating transactions.

    The Swinging Price Basis and Swinging Price fields are populated on running the Mini EOD for swinging price computation, only if the fund is swinging or semi swinging price basis fund. For non swinging/non semi swinging fund these fields will be blank.

    NAV Lot Numeric; 22 Characters; Optional

    Enter the NAV lot amount.
    Total Net Assets Display

    The system displays the Total Net Asset Value or Fund Corpus for the fund. This is applicable only if Total Assets is selected in the Total Assets / NAV / Formula Builder option. If NAV is selected then this is calculated by the system.

    This should never exceed or be equal to the figure of ten thousand trillion, at any point of time.
    No. Of Unit Holders Display

    This displays the Total Number of unit holders holding a balance in the fund. This number will be the actual number for any given effective date. This is also calculated by the system.
    Declared NAV/Lot Numeric; 22 Characters; Mandatory

    Specify the declared NAV per lot.
    Ceiling Price Numeric; 22 Characters; Mandatory

    Enter the Ceiling Price for the fund. The Ceiling price is to indicate the highest price that the fund can offer. Based on the loads, if the net transaction price happens to be greater than the Ceiling Price then, the Ceiling Price would be considered as the net transaction price. This will typically be in case of a subscription or IPO transaction.

    The Floor Price should be less than the Fund Price and the Ceiling Price should be greater than the Fund Price i.e., Fund Price should be between Floor Price and the Ceiling Price.
    Amend Transactions Optional

    This option allows you to reverse and recreate transactions affected by amending the Fund Price or merely updating the price. Only after you select this option, the transactions included during authorization of the Fund Price are affected.

    The system will not reverse and recreate the transactions if any underlying child transaction has been created from the old transaction.

    The details specified below are displayed if the related fund is a Hedge Fund.

    High Water Mark (HWM) Numeric; 22 Characters; Optional

    Specify the high water mark, as per the price date.
    Hurdle Rate Numeric; 22 Characters; Optional

    Specify the hurdle rate as per the price date.
    HWM + Hurdle Numeric; 22 Characters; Optional

    Specify the sum of High Water Mark (HWM) and the hurdle rate, rounded based on the price rounding method.

  4. After specifying the necessary details, click Ok button.

Parent topic: Fund Price