Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -1,7 +1,7 @@
1	1
2	2
3	3	(% style="text-align: center;" %)
4		-(% style="font-size: 28px; color: rgb(41, 128, 185)" %)**CALCULATING AND LOADING INTERIM_FINAL RATES**
	4	+(% style="color:#2980b9; font-size:28px" %)**CALCULATING AND LOADING INTERIM_FINAL RATES**
5	5
6	6
7	7
...	...	@@ -24,8 +24,11 @@
24	24
25	25	[[image:Calculating and Loading Interim_Final Rates_html_2d15cc65377c4c7c.png||height="180" width="210"]]
26	26
27		-== INTERIM RATE ==
28	28
	28	+(% style="text-align: center;" %)
	29	+== (% style="color:#2980b9" %)**INTERIM RATE**(%%) ==
	30	+
	31	+
29	29	When loading rates for the first time on the Fund, start with a price of 100. If not, determine the unit price as at the last month prior to the new interim rate. E.g., if the interim is being applied for the year 2021, the unit price from Everest to be utilized will be as at 31/12/2020. To do this, ensure that the Parent is selected, go to Client → Investment Products:
30	30
31	31	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
...	...	@@ -139,8 +139,10 @@
139	139
140	140
141	141
142		-== FINAL RATE ==
	145	+(% style="text-align: center;" %)
	146	+== (% style="color:#2980b9" %)**FINAL RATE**(%%) ==
143	143
	148	+
144	144	Whilst waiting for the Final Rate to be declared, the interim rate unit prices were utilised to process claims. Once the Final Rate is received for the period, update the unit prices to use the Final Rate.
145	145	\\There are 2 ways of doing this. Applying the final rate retrospectively per month OR applying an annual rate at the end of the period.
146	146
...	...	@@ -153,8 +153,9 @@
153	153	**NB!** With both methods, if you were processing claims for the period AFTER the Final rate was declared for, these claims would also create orphan units. It is best practice to hold payment of claims until the Final Rate is declared.
154	154
155	155
156		-=== Final – Monthly Retrospective Adjustment ===
	161	+=== (% style="color:#2980b9" %)**Final – Monthly Retrospective Adjustment**(%%) ===
157	157
	163	+
158	158	To calculate the monthly retrospective adjustment for the period, use the Unit Price calculator provided by your consultant. OVERRIDE the Interim prices used in the original calculation spreadsheet with the new final rate:
159	159
160	160	[[image:Calculating and Loading Interim_Final Rates_html_163d76866478adfc.png||height="209" width="463"]]
...	...	@@ -197,8 +197,9 @@
197	197
198	198	**NB!** If there are transactions that were processed AFTER the year end date, you will need to recalculate the unit prices for that period and reprice the transactions. The reason for this is that the unit price has changed at the year end, which then affects all unit prices thereafter. Follow the exact same procedure detailed above, but for the new year and utilising the new interim price for that year.
199	199
200		-=== Final - Annual Adjustment ===
	206	+=== (% style="color:#2980b9" %)**Final - Annual Adjustment**(%%) ===
201	201
	208	+
202	202	For an Annual Adjustment you will need to calculate the closing unit price via an Asset Liability match. To do so follow this procedure:
203	203
204	204	**Liabilities:**
...	...	@@ -327,7 +327,6 @@
327	327
328	328
329	329
330		-
331	331	(% style="text-align: center;" %)
332	332	== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
333	333