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 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

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