2.1.3 Maintain Fund Demographics

This topic provides information on maintaining fund demographics details.

This is the entry point for setting up a fund in the system. A rudimentary, demographic profile is captured for the fund that includes the following basic details, and lays down a basis for defining other important rules and details for the fund:

  • The Name of the fund and the unique ID that must be used by the system to identify the fund.
  • The Start Date and the Rule Effective Date. The Start Date is the date after which the fund is open for transactions. The Rule Effective Date is the date after which the fund rule that is defined is effective. Also, the dates of the Fiscal Year that includes the Rule Effective Date are captured.
  • The Type and Class of the fund and the Family of Funds that it must operate under.
  • The AMC that floats the fund and other entities that the fund will interact with such as Registrar and Trustee.
  • The Country of Domicile of the fund and the base currency that the fund will be denominated in.
  • A prospectus for the fund, if any.
  • The tax ID for the fund
  • Any additional details such as the registration address, ticker symbol in the stock exchange and CUSIP number of the fund.
  • The ISIN code for the fund
  • Whether IRA transactions are allowed for the fund.
  • Whether the fund is suspended for transactions of all types. Transactions of all types (both those entered through the Transaction Detail screens as well as system generated and uploaded transactions) into suspended funds are not allowed.
  • Whether the fund is a hedge fund.

A fund will not be identified within the system unless it has a Fund Demographics profile record, and all other rules and details for the fund cannot be set up unless the fund has this profile.

To set up the Fund Demographics profile for a fund, use the Fund Demographics screen.

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

    Figure 2-1 Fund Rules Detail


    Description of Figure 2-1 follows
    Description of "Figure 2-1 Fund Rules Detail"

    Note:

    Before you set up a Fund Demographics profile record, it is desirable to ensure that the following information is already setup in the system:

    • Fund Types must already be defined.
    • Fund Families must already be defined.
    • Currencies and Countries of Domicile must already be maintained, and the Country Currency mapping must be defined, so that each Country may be mapped to a default base currency.
    • Entities such as AMC’s, Registrars and Trustees must already have a profile in the system.
  2. On Fund Rules Detail screen, specify the fields.
    For more information on fields in the screen, refer the below table.

    Table 2-2 Fund Rules Detail

    Field Description
    Fund ID Alphanumeric; 6 Characters; Mandatory

    The Fund ID is a unique Identification for each Fund in the system. Enter a unique value for the fund for which a Fund Demographics record is being set up. If the record of an umbrella fund has been retrieved, the Fund ID is defaulted to the Family ID, and cannot be altered. If the record retrieved is that of a share class, then the unique six-character system generated ID appears and this cannot be altered.
    Rule Effective Date Date Format; Mandatory

    Using the date picker, specify the date from when the Fund Demographics Rule that is currently being set up should become effective.

    If the Existing Fund box is checked, the Rule Effective Date specified here must be earlier than the Application Date, and later than the Fund Start Date.

    If the fund is not an existing fund, then the Existing Fund box is not checked, and the fund is a new fund, the Fund Start Date and Rule Effective Date must be the same.

    The Rule Effective Date should be later than (or same as) the Fund Start Date and it should also be later than (or same as) the current application date of the system.
    Fund Start Date Date Format; Mandatory

    Using the date picker, specify the date upon which the fund is to begin operations (in case of a new Fund).

    If the Existing Fund box is checked, the Fund Start Date specified must be earlier than the Application Date.

    For new funds, the Fund Start Date specified is same as the Application Date.
    Fund Name Alphaumeric; 60 Characters; Mandatory

    Enter the name of the fund for which the Fund Demographics profile is being set up in this record. If the record of an umbrella fund has been retrieved, the Fund Name is defaulted to the Family Description, and cannot be altered.
    Fund Short Name Alphaumeric; 15 Characters; Mandatory

    Enter the short name of the fund for which the Fund Demographics profile is being set up in this record. If the record of an umbrella fund has been retrieved, the Fund Short Name is defaulted to the Family ID, and cannot be altered. If the record retrieved is that of a share class, then the Fund Short Name is defaulted to the name specified in the Sub-Fund Share Class Mapping.

    Fiscal Year Start Date Date Format; Mandatory

    Enter the date from when the Fiscal Year should start for the fund. This will be the base date for arriving at any frequency defined in the system.

    The Fiscal Start Date must be earlier than the application date and the Rule Effective Date of the fund.
    Fiscal Year End Date Date Format; Mandatory

    This is the date on which the Fiscal Year should end for the fund when the Fiscal Start Date is specified; the system displays the Fiscal Year End Date exactly a year later than the Start Date.

    The Fiscal End Date should be later than (or same as) the current date of the system. It should also be later than (or same as) the Rule Effective Date of the fund that is being set up.
    Primary Registration Address Alphaumeric; 255 Characters; Mandatory

    SIf the registration address for the fund is different from the address of the AMC to which the fund belongs, you may specify the address in this field. By default, the address of the AMC is considered to be the primary registration address for the fund.

    This address is necessary for reporting and information purposes only.
    Fund Identification Number Alphaumeric; 12 Characters; Mandatory

    Specify the ISIN identification number (ISIN Code) assigned to the fund.

    The ISIN Code is a 12-character alphanumeric code, with the first two digits being non numeric, and the last two, strictly numeric. Along with the Fund ID, It is used for retrieval of the fund details in all search facilities in the system, and is captured during transaction entry as identification for the fund.
    Fund Base Currency Alphaumeric; 3 Characters; Mandatory

    Specify the currency in which the fund will be denominated, from the drop-down list provided. The NAV and dividend declarations for the fund will be in this base currency.
    Fund Base Currency Description Display

    The system displays the description for the selected fund base currency.
    Min Amt for Tax ID-Indv Numeric; 18 Characters; Mandatory

    Enter the minimum subscription/IPO subscription amount beyond which the system needs to validate the PAN of the unit holder.

    While capturing a transaction, the system will check the transaction amount with the amount maintained here for unit holders of the type Individual. If a transaction exceeds the stated minimum amount, the system will throw up an error and not save the transaction.

    Min Amt for Tax ID-Corp Numeric; 18 Characters; Mandatory

    Enter the minimum subscription/IPO subscription amount beyond which the system needs to validate the PAN of the corporate investor.

    Existing Fund? Optional

    Choose Yes from drop-down list to indicate that the fund for which the record is being set up here is an existing fund, then the Rule Effective Date is earlier than the Application Date.

    Fund Class Mandatory

    Select the class to which the Fund must belong, from the drop-down list. The list displays the following values:

    • Open Ended
    • Closed-Ended
    AMC Alphaumeric; 12 Characters; Mandatory

    Specify the AMC that this Fund will be operative in. Alternatively, you can select AMC ID from the option list. The list displays all valid AMC ID maintained in the system.
    AMC Description Display

    The system displays the description for the selected AMC.
    Legal Entity Alphanumeric; 12 Characters; Optional

    Specify the legal entity details. The adjoining option list displays all valid entity ID maintained in the system. You can choose the appropriate one.

    Legal Entity field option list will default value only If (While creating AMC) AMC Structure is marked to YES. If AMC is Fund Structure Applicable AMC then Legal Entity Filed is mandatory

    Legal Entity Description Display

    The system displays the description for the selected legal entity ID.
    Brokers Mandatory? Mandatory

    Select Yes from drop-down list to indicate that brokers are to be mandatory for the given Fund. If not, select No in this field.

    Fund Enabled? Mandatory

    This field may be used to enable or disable a fund. By default, when you are setting up a new fund, this field has a Yes value, indicating that every new fund is created in the system initially as an enabled fund. You can select one of the options from the drop-down list. The list displays the following values:

    • Yes
    • No
    Minimum Holding Period Numeric; 22 Characters; Optional

    Enter the lock in period for the investors investing in a Money Market Mutual Fund.

    Fund Tax ID Alphanumeric; 25 Characters; Optional

    You can use this field to indicate the Tax ID assigned to the fund. It is used for reporting and information purposes. The Tax ID you specify here cannot be specified for any other fund in the system.
    Fund Ticker Symbol Alphanumeric; 25 Characters; Optional

    Specify the ticker symbol that identifies the fund in the stock exchange list.
    IRA Investments Allowed Optional

    You can use this field to indicate whether investment into the fund is allowed through an Individual Retirement Account (IRA). Select Yes from drop-down list to indicate that IRA investments are allowed, into the fund. If so, you must maintain the limits for such investments by in the Fund IRA Transactions section in this screen.

    Note: If you select Yes option, it implies that the fund is a pension fund.

    Fund Suspended? Mandatory

    You can use this field to suspend a fund for transactions of all types. Select Yes from drop-down list to indicate that the fund is suspended for transactions. Transactions of all types (both those entered through the Transaction Detail screens as well as system-generated and uploaded transactions) into suspended funds are not allowed.

    If a fund is suspended, transactions of all types are not allowed into the fund. If a fund is not suspended, transactions of specific types that have been suspended for the fund in the Transaction Processing Rules (if any) are not allowed.
    Umbrella Fund? Optional

    To enter a Fund Demographics Profile for an umbrella fund, choose Yes from the drop-down list. This will enable the Umbrella Fund Details.

    Umb. Fund Alphanumeric; 25 Characters; Optional

    Specify the umbrella fund.
    Currency of Expression Fund Display

    The system displays the currency of expression fund based on the fund price currencies maintained.

    If price currency maintained in Fund Price Currency tab then this field will be Yes else it will be No.

    Fund Type Alphanumeric; 38 Characters; Mandatory

    Specify the Fund Type from the option list. This list is populated with the Fund Types set up in the Fund Type Maintenance.

    You can use this field to identify if the fund is equity fund or money market fund.

    Fund Type Description Display

    The system displays the description for the selected fund type.
    Fund Family Alphaumeric; 6 Characters; Mandatory

    Specify the fund family under which the fund must be placed from the option list that is populated with all fund families that are maintained in the system as part of the Fund Family Maintenance. If this record is being set up for an umbrella fund, then the ID of the Immediate Parent Family is displayed here from the Fund Family Maintenance, and this cannot be altered.
    Fund Family Description Display

    The system displays the description for the selected fund family.
    Fund Country Alphaumeric; 3 Characters; Mandatory

    Specify the country of domicile of the fund. This information is used to determine whether a unit holder that subscribes to the fund must be considered a Foreign unit holder or not.
    Fund Country Description Display

    The system displays the description for the selected fund country.
    Registrar Alphaumeric; 12 Characters; Mandatory

    Select the Registrar for the fund being set up, from the options provided.
    Registrar Description Display

    The system displays the description for the selected registrar.
    Trustee Alphaumeric; 12 Characters; Mandatory

    Select the Trustee for the fund being set up, from the options provided.

    Trustee Description Display

    The system displays the description for the selected trustee.
    Custodian Alphaumeric; 12 Characters; Mandatory

    Enter the custodian details.
    Custodian Description Display

    The system displays the description for the selected custodian.
    Hedge Fund Optional

    Select Yes from the drop-down list to indicate that the selected fund is a hedge fund and select No to indicate otherwise.

    Relationship Termination Date Display

    The system displays the relationship termination date.
    Fund Domicile Display

    The system defaults the fund domicile value as off-shore or on-shore while saving the fund based on the fund country and installed entity country.

Parent topic: Fund Rule