Unitized Funds Prototype

A new plan was created in the Prototype Company to demonstrate unitized fund configuration and display new policy screen fields.

Configuration Required

The following configuration must be in place to support unitized funds.

  • Unitized Fixed Prototype Plan was created using Point in Time valuation.
  • Unitized fixed parent fund was created with three lateral funds. Each fund has unit values on three different dates.
  • The UnitizedDeposit transaction was configured.
  • The UnitizedWithdrawal transaction was configured.
  • The FundListForAllocation rule restricts the Funds drop down list to include child or lateral funds that match the appropriate parent fund.

Prototype Explanation

The following business rules and transactions were configured in the Unitized Fixed Prototype Plan to demonstrate this new functionality.

Business Rules

  • The FundListForAllocation business rule defines the relation criteria for child and lateral funds. To view configuration, navigate in the Global Explorer to Business Rules | Attached | FundListForAllocation | Plan Overrides | FundScreen (Unitized Fixed Prototype Plan).

Transactions

The following transactions were created to demonstrate how a full and partial withdrawal can process with redemption fees.

  • The UnitizedDeposit transaction defines how money is deposited into lateral funds within a unitized parent fund. It uses the <FundLevel> element and LEVEL attribute to apply criteria only to unitized funds. When Assignment looks up the necessary sub-funds (child and lateral) for valuation purposes, the criteria under the lateral funds will only apply the funds with an AsFundRelation type of 03. To view configuration, navigate in the Global Explorer to Transactions | UnitizedDeposit| UnitizedDeposit (Unitized Fixed Prototype Plan).

  • The Unitized Withdrawal transaction defines how money is withdrawn from lateral funds within a unitized parent fund. To view configuration, navigate in the Global Explorer to Transactions | UnitizedWithdrawal | UnitizedWithdrawal (Unitized Fixed Prototype Plan)

View Prototype in OIPA

  1. Log in to OIPA using the Prototype Company user ID and password. Make sure the user has privileges to view comments.

  2. Open a policy.
  3. Click the Add Activity link on the Secondary menu of the Policy screen. This will open the Activity screen.
  4. Select the UnitizedDeposit or UnitizedWithdrawal activity and click OK.
  5. Click the Activities link in the Left Navigation menu to open the Activity screen.
  6. Process the activity.
  7. Click the Activity Detail icon to the left of the processed activity.