Research a product group
This tab gives access to the product group.
The research can be by name or by code. To display all the groups the search fields need to be left empty and the search directly launched with ‘Search’.
It is possible to create a new product group via the ‘Add’ button. To view more detail the user needs to click on ‘View details’
Product Group details
Here the user can see which product has been attached at which date (start date and – if applicable- end date). A hyperlink leads to the product details.
In case the user wants to attach multiple products at the same time the user shall use the ‘Bulk’ option. By using this functionnality a single bulk validation request is issued instead of one of each product.
Agreements/Grids
This tab lists the agreements and grids to which the product group is linked to and over which period.
A hyperlink provides access to further details about the version.
Products
Research/add a product
This tab allows searching for a product. All products will be shown if the search button is used. Filters are available to search for a specific product. Results are shown in list format.
Via the ‘Add’ button it is possible to add a product.
Details
The tab shows the following information:
History of product groups
This tab lists the links to product groups with their start and – if applicable- end date. The ‘Add’ button allows creating a new link product to product group.
The hyperlink to product group leads to the details of the linked product group.
Bulk addition of a product to multiple product groups
It is possible to bulk- assign a product to multiple product groups. This can be done either via the User Interface or via import. Within the user interface the user selects the product first. Within the tab ‘History of Product Groups’ it is possible to add the product to one ( +Add) or multiple (+ Bulk) product groups
The next step is to select the relevant groups together with the start and -If applicable- End date.
All settings need to be validated by another users if done via interface.
History of Rates
This tab shows each fee type with its rate history. It is possible to add a new rate with the ‘Add’ button. There is only a start date required and the new rate is effective as of that date and automatically ends the previous rate.
Product prices
This tab shows the price history of a product. By default the list shows the most recent price first. By setting a start and an end date for the period the user can filter for specific pricing periods.
Transaction report
This report shows the transactions on the portfolio. To view the transactions the user needs to select the start and end date and press the button ‘View Report’. The transactions will show in the result list. The report can be exported in various formats.
Stock report
This report shows the number of shares per product at a given date in the past. The user needs to enter the reference date, the currency and the trade basis. After clicking on the button ‘View Report’ the results will show up on the screen. The report can be exported in various formats.
Agreements/Grids
This tab lists the agreements and grids for which the product is in use.
Grids
A grid is used to define standard conditions and avoid encoding them again for each agreement.
Research
This tab allows searching for and creation of a grid. All grids will be shown if the search button is used. Filters are available to search for a specific one.
Details
In the details it is possible to visualise the name and short name of the grid. A check box shows if the grid is active or not. A non-active grid is not shown by default.
Calculation settings
Calculation versions management
On top of the screen the user can see the current version.
The button ‘Manage calculation version’ leads the user to the version history.
Calculation version properties
The screen shows up whether the default scale is in use or not.
To view all the details the user needs to press ‘Show details of calculation properties’, so that the extended screen below comes up:
To hide the extended part again, the user can click on ‘Hide details of calculation properties’.
Calculation Set
This section of the screen lists the properties of the calculation set. With the ‘Add’ button the user can add a new calculation set.
If the user places the mouse over the information icon, he can see the details of the calculation version.
To access or modify the details, the user can press the icon
to get to the following screen:
Calculation set details
Properties
This section contains the name of the calculation set, the service and the calculation mode. Depending on the model chosen the options shown underneath will vary.
Portfolio scope
Here the user can define the HOP’s as well as the product groups that will be concerned by the calculation set or by the portfolio attributes.
Example: To include in the calculation all portfolios created more than a year ago the user needs to make the following choices:
First the user needs to choose the attribute. Only for attributes linked to a date there is a transformer required. Currently two types of transformers exist:
- Age calendar – Takes into account the exact creation date
- Age year – Takes into account only creation year
Then there are the operator and the values to be set up.
Calculation parameters
The choices available are depending on the calculation mode used (commission calculation, Fee sharing etc.)
It is possible to use the default parameters which are set up at entity level by checking the box ‘Use default calculation parameters defined at Entity level
Threshold volume basis
Here the user can define how the AUM is calculated for the threshold.
Rebate calculation basis
Here the user can define whod the AUM is calculated for the payment.
Day count basis
Here the number of days per year to be considered for the calculation.
Rebate calculation formula
The user must define which formula to use for calculation. Depending on the fee model previously selected different options are available.
Fee types
The user can select here which fee type shall be calculated. This section is only visible for the fee model ‘Commission calculation’.
Rebate fee basis
The user defines here if the fee amount or the base amount from which the fee amount is derived is used for the calculation:
- fee amount
- fee base amount
This section is not visible for the fee model ‘Commission calculation’.
Threshold fee basis
Here the user can choose from the below options which amount will be used to define the threshold :
- fee amount
- fee base amount
- fee rate
- fee base amount cumulated YTD.
This section is not visible for the fee model ‘Commission calculation’.
Calculation scales
The scale is defined is this screen
Fee Scales
The information to be entered is:
From: The entry level of the scale band
To: The exit level of the scale band (not mandatory if there is no upper level)
Terms: Can be percentage of fee, percentage of fee base amount, Basis points on AUM etc.
Type of band: Flat – The terms are applied on the entire AUM, Tiered – the terms apply only for the scale band.
Fee scales allow to enter a fee based scale where the fee rate drives the retrocession terms.
Fee scales can be viewed or set up via the agreement components menu under ‘Fee Scales’:
By using the hyperlinks below the fee scale short name/ name the user can view and edit existing fee scales. Via the add button the user can create a new fee scale.
Within the Fee Scale model ‘Standard’ the user can enter scale bands with from/to Fee rates together with the retrocession rate and formula to be used.
Using the rebate formula ‘Sophisticated’ will change the screen layout to allow entering fee scale entry bands.
Then the underlying bands can be entered:
This completes one set of fee scale entry conditions. There may be multiple of these sets. In the sophisticated model it is possible to select different Rebate formulas for each set.
The fee scale model ‘waiver driven’ allows to enter two types of conditions:
– if a fee waiver exists
– if no fee waiver exists
The rebate formula does not need to be the same for both conditions. If a waiver is available the waiver rate is deducted from the fee rate within the rebate calculation.
Please note that for all fee scales, there is no link to a fee type. The type of fees is selected in the calculation set. For each AUM band of a calculation set the user can choose to make use of a (standard, sophisticated or waiver driven) fee scale instead of entering the rebate terms for the AUM band as usual.
Fee scales can be used within default scales, grids and Agreement calculation sets.
They refer to the fee type mentioned in the calculation set. If a fee scale is used, the user is forced to select a fee type in the calculation parameters.
If a fee scale is selected within an AUM band, the short name appears where usually the bps or % rebate would be shown.
To add a fee scale within an AUM band, the button fee scale provides access to active scales which are referenced with their short name.
It is possible to combine sophisticated AUM scales (based on AUM amounts as entry condition) with sophisticated Fee Scales (based on Fee rates as entry conditions).
In such case within the AUM bands the related fee scale needs to be added.