2.1.4 Specify Mandatory Information for New Account

This topic provides instructions to specify mandatory information for new account.

In the UH New Account Detail screen, you must specify the following details about the investor as mandatory information when you are creating a new unit holder account:

• The CIF Number of the customer for whom the unit holder account is being created, in the CIF Number field. This is mandatory information for all unit holder accounts.

  Note:

  If you wish to copy the unit holder details from that of an existing unit holder account, use the Copy UH link alongside the CIF Number field.
• For a non-CIF investor, the reference number for the unit holder account, in the Reference Number field.
• The ID of the AMC/ Distributor, the funds of which the investor has chosen to invest in, in the AMC ID field.
• The type of investor for whom the account is being created, (either Individual or Corporate) in the Investor Type field.
• The date on which the account is to be created, in the Account Opening Date field. By default, this is deemed by the system to be the application date, but you can specify an earlier date.
• The option of dealing with the AMC either through self or an authorized representative. If dealing through an authorized representative, specify the same in the Dealing Type field, and select an authorized representative, as mandatory information, in the Auth Rep ID field. If you are maintaining a depositary as a unit holder, you must select ‘Depositary’ as the dealing type.

For individual investors, specify the following details as mandatory information:

• The name of the investor. You must specify at least the first name of the investor in the First Name field.
• The Fee Category in the Fee Category field.
• The gender of the investor, in the Sex field.
• The option chosen by the investor of operating the account either singly or as a joint account, in the Account Operation Type field. If the account is to be a joint account, you must specify the name of at least one of the joint unit holders, in the Joint CIF Details section. In this screen you can specify the Joint Holder’s ID, Joint Type and Address details. Once authorized, this field cannot be modified.

For corporate investors, specify the following details as mandatory information:

• The name of the company, in the Company Name field.
• The type of corporation, in the Corporation Type field.
• The contact address of the investor, in the Address field under the Default Address header.
• The type of identification, number of the identification document and its place of issue provided by the investor, in the fields Identification Type, Identification Number and Place of Issue respectively. Once authorized, these fields cannot be modified.
• Specifying the details of a bank account for an investor is not mandatory. If you wish to indicate them, any number of bank accounts can be designated, for each currency. You can also indicate a default bank account for each currency. During transaction entry, the payment bank account to be used for the unit holder will be picked up based on the transaction currency. The default bank account defined for the unit holder, for the transaction currency, is used.
• The code of at least one intermediary designated for the investor, in the Intermediary field in the Intermediary Details section. You must also specify the commission percentage that the intermediary is to receive, in the Split Percent field. The sum of all split percentages for the specified intermediaries must not exceed one hundred percent. The broker details and the split percentages are used as default information during the entry of transactions for the investor.