Net Asset Values
Net Asset Values (NUVs) have three values known as the Bid, Offer and Bare. The date of the NUV used for fund transaction is saved on the valuation record as the price date.
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Bid: The price received for a fund when it is sold, and the price used by the system for valuation. When calculating the cash value of a policy use the bid price. If the price is unavailable for an activity then the cash amount should be used (net premium amount). Bid to bid pricing is used for any transaction that uses a Transfer Assignment. In the AsNetAssetValue table the column UnitValue captures the bid.
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Offer: The price to buy a fund. This is the price that is used for a premium transaction. In the AsNetAssetValue table the OfferUnitValue captures the offer.
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Bare: The actual price of the fund. This is only used as a basis to calculate bid and offer prices. In the AsNetAssetValue table the BareUnitValue captures the bare.
Net Asset Value Table
|
Column |
Type |
Description |
|---|---|---|
|
NetAssetValueGUID |
UniqueIdentifier |
Key |
|
FundGuid |
UniqueIdentifier |
Link to the fund |
|
EffectiveDate |
Date |
Date of the unit deals |
|
UnitValue |
Number(18,10) |
Bid Unit value |
|
BareUnitValue |
Number(18,10) |
Bare Unit value &endash; set to bid if no bare or the same |
|
OfferUnitValue |
Number(18,10) |
Offer Unit value &endash; set to bid if load is explicit or the same |
|
NetAssetValue |
Not used for unit linking |
|
|
MortalityAndExpense |
Not used for unit linking |
Net Asset Value Table Definition
