FA Fund Management 1.17 - Release notes
Released: September 2024
FA Fund Management 1.17 provides the possibility to use four-eyes approval of NAV and other improvements to ease users’ work.
Four-eyes approval of NAV and possibility to leave comments
Why?
We implemented this feature to help the users reduce the risk of mistakes when calculating and accepting NAV. Four-eyes approval is a common practice that requires NAV calculation and acceptance to be carried out by different people.
Who is this for?
Four-eyes approval setting is especially useful for fund companies that have to follow four-eyes approval of NAV as a compliance requirement. An option to add comments to NAV calculation and acceptance is beneficial for all fund companies.
Details
If four-eyes approval of NAV is enabled in FA Fund management, NAV must be calculated and accepted by different users. To enable the new setting, a user must have the FUND_ADMIN role.
The history of NAV calculations and acceptances is shown in the new Details tab in the NAV overview. In the Details tab, the users can add comments related to the process. Comments can only be edited by the user who added them. After NAV acceptance, users can’t edit or delete comments left before the acceptance. If the NAV is rolled back, the comments are deleted.
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Learn more: Use four-eyes approval of NAV in FA Fund Management
Saved views in NAV status
Why?
We implemented this feature to let the users adjust the view to their needs: define the funds they want to see by default and organize the table columns.
Who is this for?
This feature is for all users of FA Fund management.
Details
When filtering, sorting and organising columns in NAV status, you can save the view you created to use the same combination of settings again later. For example, if you always want to see a certain fund group's funds by default, you can choose that fund group and set that view as the default view by clicking the star icon in the saved views list.
While we added the saved views functionality, we also improved the behavior of the search fields and table filtering. Previously, they were reset when you returned to the NAV status view after opening another view such as NAV overview or a sidepane. Now, your search fields and filters are preserved even when you leave the view.
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Learn more: View funds and share classes in FA Fund Management
Outstanding units in FA Back are updated after NAV acceptance
Why?
We implemented this feature so that users don’t have to update outstanding units in FA Back after NAV is accepted and subscriptions and redemptions are executed.
Who is this for?
This feature is for all FA Fund management users who want the number of outstanding units to be available in FA Back.
Details
The number of outstanding units is used for regular limit checks. This number changes after the NAV acceptance. With this new feature in the NAV acceptance process, the system copies the number of current units from FA Fund management to “Outstanding units” in the Security window, Basic info tab in FA Back. With outstanding units updated, users can use the limit functionality to track the ownership of the fund.
Note that the updated figure does not include the units which are executed within acceptance because those are not included in the current units. Current units are the outstanding units within NAV.
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Learn more: Basic info in FA Back reference, View NAV summary and NAV per share class in FA Fund Management
Other improvements
We verified that decimal configurations are used for NAV and unit figures in the Share classes tab NAV Overview and in NAV reports (PDF and XLSX).
Fixes
Fee formulas
“Exclude cash balances” option is now available when you select “Create daily transactions”.
Fund wizard
In advanced settings, we removed the incorrect helper text and fixed the logic that demands fields to be filled.
NAV overview and NAV reports
Fixed a typo by removing the unnecessary letter S from the word “interest”.
Other fixes
Cash from/to the fund is now correct also when using units as the execution type for trade orders with fees defined in internal info.
Fund selection and modifications are now remembered when the user opens a sidepane or changes from NAV status to NAV overview.
Fixed an issue where switching between NAV calculation and acceptance audit logs didn’t work correctly.
Updates to FA Fund Management 1.17
FA Fund Management 1.17.1 - Release notes
FA Fund Management 1.17.1 is an update to FA Fund Management 1.17. This update includes the following fixes:
If a fund has a default account for cash transactions and a share class has a different transaction account, cash transactions now use the account defined for the share class.
Fund deposit/withdrawal transactions are now created correctly if a fund has breakdown of cash transactions defined.
FA Fund Management 1.17.2 - Release notes
FA Fund Management 1.17.2 is an update to FA Fund Management 1.17. This update includes the following fixes:
We fixed an issue where the account wasn't linked to the fee transaction when a user-defined fee formula was applied at the fund level.
FA Fund Management 1.17.3 - Release notes
FA Fund Management 1.17.3 is an update to FA Fund Management 1.17. This update includes the following fix:
We fixed an issue that prevented NAV calculation when a new share class was added for a fund with a benchmark configured.
FA Fund Management 1.17.4 - Release notes
FA Fund Management 1.17.4 is an update to FA Fund Management 1.17. This update includes the following fix:
NAV calculation now works with income distribution also when “Calculate tax on accrued income” is disabled.
We fixed the issue that caused NAV acceptance to fail if crystallization schedule is defined and no HWM is set for the share class. We also added some smaller changes to prevent errors in calculation.
We fixed a loading issue with NAV overview. The issue slowed down the data loading for funds with longer NAV history.