Fund Parameters
The Fund Parameter records permit you to define different account parameters classes of accounts you have defined within the fund:
The records can be edited in the grid, or alternatively in "form" format by double-clicking on the record or by clicking on the "Data/Edit Record" command:
The Fund Parameter fields operate as follows:
Fund Id - Account # of the fund as it appears in the main Account table.
Date - Record date. Multiple records can exist for a "Class", with the most recent one prior to the applicable date used when queried for a parameter.
Class - The key field used to look up the parameter record, matched from the "Class" assigned in the "Fund Account" record.
Max Lvrg - Indicates the maximum investment leverage desired for this class of fund participants.
Max Exp.% - Indicates the maximum expenses to be charged to participants of the class as a percent of value/year.
Max. Exp. Sweep Freq. - Indicates the maximum frequency with which expense records are to be generated for this class of users.
Flat Fee/Acct - Indicates any flat fee (in $) to be charged to accounts of this class.
Per Acct Charge Freq. - Indicates the frequency of the flat fee charge.
Acct Charge Waiver Level - Indicates the asset level at which a flat fee is waived.
Entry Load% - Indicates the percent load charge to be applied to new monies entering the fund.
Exit Load% - Indicates the percent charge to be applied to monies exiting the fund.
Free Exit Days - Indicates the number of days after entry within which monies can be removed without an exit charge.
NAV Decimals - Indicates the decimal precision to which the "Net Asset Value" per unit is to be maintained.
Share Decimals - Indicates the decimal precision to which the share accounting is maintained.
Active Participants - This is a computed field intended to enumerate the number of participants in the class.
Income Distrib Freq. - This indicates the frequency with which income transactions are to be distributed for the class.
Realized Gains Freq. - This indicates the frequency with which realized gains are to be distributed for the class.
Distribution Share Basis - This indicates what share basis is to be used to compute distributions.
Incent. Fee Method - This indicates the default incentive fee method to be used for the class. See the prior topic Fund Accounts for the enumeration of the methods.
Incent. Fee Base % - This indicates the default incentive fee base "hurdle" rate.
Incent Fee %/Year - This indicates the default incentive fee rate as a percent.
Incent Fee Freq. - This indicates the frequency that incentive fees will be charged, subject to high water rules.
Incent Fee TAC - This indicates the default transaction code to be used for incentive fees. See the topic Fund Transaction Codes for available codes
Incent Fee Date Offset - This indicates the number of days after the fee period end date that a fee transaction is charged. Typically this should be 1 day.
Mgmt Fee Method - This indicates the default fee calculation method for the management fee. See the prior topic Fund Accounts for the enumeration of the methods.
Mgmt Fee Base% - This indicates the management fee rate expressed as a percent per year. Some accounts may be discounted from this based upon special status.
Mgmt Fee Freq. - This indicates the frequency that management fees will be charged.
Mgmt Fee TAC - This indicates the default transaction code to be used for management fees. See the topic Fund Transaction Codes for available codes
Mgmt Fee Date Offset - This indicates the number of days after the fee period end date that a fee transaction is charged. Typically this should be 1 day.
Rep. Percent Rates - These three fields indicate the portion of fees and commissions that any assigned rep. will be assigned.
Trust Fund Acctg - This specifies that Trust Fund Accounting is activated, but will be overridden if the main fund account record indicates that trust fund accounting is active.
Princip Based Expenses/Fees/Admin - If these are checked, they indicate that fees are to only be applied based upon principal values, not income attributed values.
Custom Codes - Reserved.
Equalize Months - Specifies that time period computations will assume months and quarters of equal length.
Use Assigned Fees - Specifies that fees will be "accrued" rather than charged in cash as a default. This will be overridden by the specification in the transaction generation tool.
Profit Net of Fees - Specifies that the profit used for incentive fees is reduced by the amount of the prior periods fees.
Max Side Pocket% - Reserved.
Gate % - Reserved.
Lockup Months - Reserved.