5.1.4 Asset Allocation Tab

This topic explains the asset allocation tab of Policy Transaction-Surrender Detail screen.

1. On Policy Transaction-Surrender Detail screen, click Asset Allocation tab.
   The Asset Allocation details are displayed.

   Figure 5-5 Policy Transaction-Surrender Detail_Asset Allocation Tab

   
   

   
   Description of "Figure 5-5 Policy Transaction-Surrender Detail_Asset Allocation Tab"

   
   
2. Capture the fund-wise pattern of distribution of the surrender amount in the Asset Allocation Details section of this tab. If the redemption is in different currencies, you need to mention the currency-wise details here.
3. On Asset Allocation Tab, specify the fields.
   For more information on fields, refer to the field description below,

   Table 5-4 Asset Allocation - Field Description

   Field	Description
   Fund ID	Alphanumeric; 6 Characters; Mandatory All the funds mapped for the selected product where the Policy holder has a balance are displayed in the option list. Select the required funds.
   Fund Name	Display The name of the fund that you select will be displayed.
   Ratio	Numeric, 15 Characters; Optional Specify the percentage of the amount that must be redeemed in each of the selected funds. The sum of all such percentages must add up to 100, and not fall below or exceed it. The percentages specified here must not be fractional. Typically, this field is only applicable for transactions for which the Transaction Mode is Percentage. If there are many currencies specified as part of settlements, then the system will not allow you to enter a ratio. Instead you need to enter the transaction currency and transaction amount for each currency. The system will compute and display the ratio based on the currency and amount details provided. To calculate the ratio, the transaction amounts will be converted to policy transaction currency based on the exchange rate defined in settlements. If the settlements are maintained in only one currency, then you can enter either the ratio or the transaction amount. Note: If you have specified the investment amounts in each fund, the investment ratios are computed and displayed here, and this field is locked.
   Transaction Amount	Numeric; 30 Characters; Optional Specify the portion of the transaction amount that is to be redeemed in each of the selected funds. The sum of these amounts must not be greater than the total transaction amount specified in the transaction details tab for this transaction. Typically, this field is only applicable for transactions for which the mode is Amount. If different currencies have been mentioned in settlements, then you can specify only the transaction amount. The system will default the ratio. If all the currencies in settlements are the same, then you can specify either the transaction amount or the ratio. Note: If you have specified the investment ratios in each fund, the investment amounts are computed and displayed here, and this field is locked.
   Units	Numeric; 27 Characters; Optional The Units field enables you to allot units applied for each fund under asset allocation. This is based on the gross amount of the unit/product. To show the number of units applied to the fund under allocation, specify the number of units allocated. Once the Transaction Mode is selected as Units, the following fields are defaulted: Portfolio Surrender option is chosen as True, and the field is disabled for entry. The Transaction amount is defaulted as Zero, and the field is disabled for entry. The percentage of holdings are rendered Zero, and the field is disabled for further input. It is necessary for you to enter the Units applied for each fund, under the Asset Allocation details.
   Transaction Currency	Alphanumeric; 3 Characters; Optional Specify the transaction currency for the transaction. If many currencies have been mentioned in the settlements, then you are required to enter the amount for individual currencies. You can specify a transaction currency only if the transaction is amount-based.
   Source ID	Alphanumeric; 6 Characters; Optional The system will display the exchange source maintained at the default set-up in system parameters. You can change it by selecting the required exchange rate source from the adjoining option list. This will be used by the system to convert the transaction amount in terms of fund base currency.
   Override Exchange Rate?	Optional Select Yes if you wish to change the exchange rate that is displayed here. If you select Yes, however, you need to specify the exchange rate to be used for the transaction in the Exchange Rate Applied field. Select No if you wish to retain the exchange rate that is displayed by the system.
   Exchange Rate Applied	Numeric; 21 Characters; Optional The system will default the exchange rate available for the currency based on the exchange source specified. If you have elected to override the exchange rate, you need to enter the exchange rate to be used here. If exchange rate is not available, then the system will generate the transactions as incomplete ones. Such transactions can be enriched later through the Policy Transaction Enrichment Screen.
   FX Deal Date	Date Format; Optional Select the FX deal date from the adjoining calendar.
   FX Value Date	Date Format; Optional Select the FX value date from the adjoining calendar.
   Auto Clear Provisional Balance	Mandatory For a complete surrender transaction, you can use this field to indicate that the outflow transaction should include units in provisional balance. If the policy transaction already has an underlying UT transaction with this option checked, then system throws up a warning and tracks the provisionally allotted transactions for auto clearing.
   Auto Clear Reinvestments	Mandatory Use this field to indicate that for a complete surrender transaction, the out flow transaction should include freeze held and reinvestment units. Note: The Auto Clear Provisional Balance and Auto Clear Reinvestments fields will be checked or unchecked based on the specification for the same in the policy maintenance screen. However, you can change the defaulted value. These options will be enabled if the Percentage of Holdings is 100.
   KIID Compliant	Optional Select if the policy is KIID compliant or not from the adjoining drop-down list. Following are the options available: Yes No