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Release Notes 2019-12-15

New Multi-Share Class Valuation Methodology for Fund Management​

There are various methodologies for calculating the NAV/share of each share class under multi-share class valuation.

We have called the existing methodology as Method A and implemented a new mythology under Method B.

The new methodology relies on the external valuation of the previous period to calculate the coefficient and then adjust NAV of each share class using the difference of dedicated assets in between two periods.

Therefore, this new methodology requires proper record keeping for manifested figures under external valuation.

We advise users to get in touch with us for details, but in short, following external valuation fields are required for calculating dedicated assets of the previous period:

  1. Unrealised Hedge PNL + Total Accruals, or
  2. Unrealised Hedge PNL + Management Fees + Performance Fees + Other Accruals.

New Fields On External Valuations​

In addition to existing fields on the external valuations, we added 3 new fields:

  1. Total Accrual Amount: This defines the total accrual amount in the currency of the external valuation. It is used to calculate the NAV of a share class in Method B for multi-share class valuations. Please refer to details of Method B announcement in this document.
  2. Other Accrual Amount: This defines the accrual amounts excluding management fee and performance fees in the currency of the external valuation. It is used to calculate the NAV of a share class in Method B for multi-share class valuations. Please refer to details of Method B announcement in this document.
  3. Coefficient: If fund administrators want to keep a log of coefficients, this field can be used. It is only for reference purposes.

Allow Further Customisation On Trade Order/Group CSV Column Names For Instrument Attributes​

We have introduced earlier the function of defining arbitrary instrument attributes for a DECAF deployment. Furthermore, we also added the option to expose all or some of these attributes in the trade order/group CSV files.

Initially, these fields are exposed in the form of Main Instrument (<Attribute>).

In case that your organisation wants to opt out of the Main Instrument (..) part and just use Attribute, now it is possible.

Ordering of External Valuations​

We have improved the ordering of the external valuations. It is now ordered as follows:

  1. First, date of the external valuation in descending order.
  2. Then, portfolio name of the external valuation in ascending order.
  3. Finally, share class name (if any) of the external valuation in ascending order.

Fix Decimals On Share Class Valuation Table On Fund Report​

We have fixed a formatting issue on the share class valuation table on the fund report to align decimals on the table for better looks.