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Title

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	1	+ How to calculate and load Interim/Final rates on Everest

Content

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1		-
2	2
3		-(% style="text-align: center;" %)
4		-(% style="color:#2980b9; font-size:28px" %)**CALCULATING AND LOADING INTERIM_FINAL RATES**
	2	+**DISCLAIMER**
5	5
	4	+Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.
6	6
	6	+In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.
7	7
8		-(% style="text-align: center;" %)
9		-(% style="color:#2980b9" %)**BY**
	8	+EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.
10	10
	10	+Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.
11	11
12	12
13		-(% style="text-align:center" %)
14		-[[image:Calculating and Loading Interim_Final Rates_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
15	15
16	16
17	17
18	18
19		-(% style="text-align: center;" %)
20		-== (% style="color:#2980b9" %)**How to calculate and load Interim/Final rates on Everest**(%%) ==
21	21
22	22
23		-Everest is a unit-based system, and therefore requires that rates are converted to a unit price. To do this, a template is provided, for calculating the unit prices. Note that the template may change to accommodate the specific needs of the client, so please discuss your requirements with your EBSphere Consultant so that the correct template is provided.
	19	+**COPYRIGHT**
24	24
25		-[[image:Calculating and Loading Interim_Final Rates_html_2d15cc65377c4c7c.png||height="180" width="210"]]
	21	+This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.
26	26
	23	+EBSphere (Pty) Limited
27	27
28		-(% style="text-align: center;" %)
29		-== (% style="color:#2980b9" %)**INTERIM RATE**(%%) ==
	25	+P.O. Box 785803
30	30
	27	+Sandton
31	31
	29	+2146
	30	+
	31	+
	32	+
	33	+[[image:Calculating and Loading Interim_Final Rates_html_8cba33b1e8c9fa24.gif||height="96" width="344"]]\\
	34	+
	35	+= {{id name="_How_to_calculate"/}}[[image:Calculating and Loading Interim_Final Rates_html_857ba1e075348553.png||height="13" width="656"]] //How to calculate and load Interim/Final rates on Everest// =
	36	+
	37	+Everest is a unit-based system, and therefore requires that rates are converted to a unit price. To do this, a template is provided, for calculating the unit prices. Note that the template may change to accommodate the specific needs of the client, so please discuss your requirements with your EBSphere Consultant so that the correct template is provided.
	38	+
	39	+[[image:Calculating and Loading Interim_Final Rates_html_2d15cc65377c4c7c.png||height="180" width="210"]]
	40	+
	41	+== {{id name="_INTERIM_RATE"/}}INTERIM RATE ==
	42	+
32	32	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:
33	33
34	34	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
35	35
36		-Double Click on the (% style="color:#2980b9" %)**“UPs”**(%%) button for the product you want to update:
	47	+Double Click on the “UPs” button for the product you want to update:
37	37
38		- [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
	49	+[[image:Calculating and Loading Interim_Final Rates_html_9bb70105408a83b3.gif||alt="Shape2"]] [[image:Calculating and Loading Interim_Final Rates_html_fd2346ffdb565ea6.gif||alt="Shape1"]] [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
39	39
40		-A screen will open that reflects the (% style="color:#2980b9" %)**“Used Unit Prices”**(%%). These are the prices the system is currently using for calculation of member values and benefits.
	51	+A screen will open that reflects the “Used Unit Prices”. These are the prices the system is currently using for calculation of member values and benefits.
41	41
42	42	[[image:Calculating and Loading Interim_Final Rates_html_c6e0cf71f2b8533.png||height="183" width="393"]]
43	43
...	...	@@ -54,6 +54,10 @@
54	54	[[image:Calculating and Loading Interim_Final Rates_html_f768b169db3dc5bb.png||height="53" width="304"]]
55	55
56	56
	68	+
	69	+
	70	+
	71	+
57	57	To calculate the interim rate prices for the next year, insert the MONTHLY interim rate to be used in column B, Return for the Month, for each month of the year. The spreadsheet will calculate the unit prices for each month:
58	58
59	59	[[image:Calculating and Loading Interim_Final Rates_html_e8af78425277d3fb.png||height="194" width="191"]]
...	...	@@ -60,96 +60,99 @@
60	60
61	61	The new prices can be manually loaded in Everest, or the user may utilise the import file and function. Imports are preferred to prevent finger error.
62	62
63		-To load the unit prices via the import functionality, first determine the (% style="color:#2980b9" %)‘**ProductID**’(%%) for the product being updated.
	78	+To load the unit prices via the import functionality, first determine the ‘**ProductID**’ for the product being updated.
64	64
65		-To do this, ensure that the Parent is selected, go to (% style="color:#2980b9" %)Client → Investment Products:
	80	+To do this, ensure that the Parent is selected, go to Client → Investment Products:
66	66
67	67	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
68	68
69		-On the screen that opens, note the (% style="color:#2980b9" %)**ProductID**(%%) for the relevant product:
	84	+On the screen that opens, note the **ProductID** for the relevant product:
70	70
71		-[[image:Calculating and Loading Interim_Final Rates_html_b68b72a894d7efaa.png||height="88" width="366"]]
	86	+[[image:Calculating and Loading Interim_Final Rates_html_869a8c7ba9c90dc4.gif||alt="Shape4"]] [[image:Calculating and Loading Interim_Final Rates_html_f42a109d80d201ee.gif||alt="Shape3"]] [[image:Calculating and Loading Interim_Final Rates_html_b68b72a894d7efaa.png||height="88" width="366"]]
72	72
73	73	Once identified, prepare the Product Price Import file attached.
74	74
	90	+{{id name="_MON_1715679781"/}}\\
75	75
76	76	[[image:Calculating and Loading Interim_Final Rates_html_d5ab4359b6c55057.gif]]
77	77
78		-Populate the Date, (% style="color:#2980b9" %)**ProductID**(%%) and Unit Price columns:
	94	+Populate the Date, **ProductID** and Unit Price columns:
79	79
80	80	[[image:Calculating and Loading Interim_Final Rates_html_737d85a651d2cf90.png||height="158" width="139"]]
81	81
82		-To import the file, go to (% style="color:#2980b9" %)Accounts → Unit Price Management:
	98	+To import the file, go to Accounts → Unit Price Management:
83	83
84	84	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
85	85
86		-Locate the (% style="color:#2980b9" %)“**Import your unit prices**”(%%) section:
	102	+Locate the “**Import your unit prices**” section:
87	87
88		-[[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
	104	+[[image:Calculating and Loading Interim_Final Rates_html_95dcc3ff2a20d022.gif||alt="Shape5"]] [[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
89	89
90		-Click on the second (% style="color:#2980b9" %)**Import**(%%) button – Import Unit Prices for Parent Investment Products:
	106	+Click on the second **Import** button – Import Unit Prices for Parent Investment Products:
91	91
92		-[[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
	108	+[[image:Calculating and Loading Interim_Final Rates_html_900dbe41cdd5d48d.gif||alt="Shape6"]] [[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
93	93
94	94
	111	+
95	95	Browse to pick up your saved import file:
96	96
97		- [[image:Calculating and Loading Interim_Final Rates_html_591f84d57fbc47ca.png||height="162" width="252"]]
	114	+[[image:Calculating and Loading Interim_Final Rates_html_d8dfc5c0148ebda.gif||alt="Shape7"]] [[image:Calculating and Loading Interim_Final Rates_html_591f84d57fbc47ca.png||height="162" width="252"]]
98	98
99		-Select (% style="color:#2980b9" %)**Save** (%%)and (% style="color:#2980b9" %)**Execute.**
	116	+Select **Save** and **Execute.**
100	100
101	101
102	102	A report will be produced indicating that the headings were recognised.
103	103
104		- [[image:Calculating and Loading Interim_Final Rates_html_160a7632760e70b4.png||height="153" width="452"]]
	121	+[[image:Calculating and Loading Interim_Final Rates_html_aff8d6cbf4eba266.gif||alt="Shape8"]] [[image:Calculating and Loading Interim_Final Rates_html_160a7632760e70b4.png||height="153" width="452"]]
105	105
106	106
107	107	To confirm the rates were correctly imported, while on the Parent go to:
108	108
109		-(% style="color:#2980b9" %)Client → Investment Products.
	126	+Client → Investment Products. Double click on “UPs” for the product imported. At the bottom of the screen click on the “New Used UPs” button. The screen that opens will reflect the new prices that are ready for use:
110	110
111		-Double click on “UPs” for the product imported. At the bottom of the screen click on the “New Used UPs” button. The screen that opens will reflect the new prices that are ready for use:
112		-
113	113	[[image:Calculating and Loading Interim_Final Rates_html_c2201debac9c4fd5.png||height="149" width="244"]]
114	114
	130	+
	131	+
	132	+
	133	+
	134	+
	135	+
	136	+
115	115	Once satisfied that the unit prices have been successfully imported, the prices are required to be linked for use in calculating the member values and benefits for the interim rate period.
116	116
117		-(% style="color:#2980b9" %)Go to Accounts → Unit Price Management:
	139	+Go to Accounts → Unit Price Management:
118	118
119	119	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
120	120
121	121
122		-Locate the (% style="color:#2980b9" %)“**Link your investments**”(%%) section:
	144	+Locate the “**Link your investments**” section:
123	123
124	124	[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="114" width="630"]]
125	125
126		-Click on the(% style="color:#2980b9" %) **fifth** (%%)“Select” button – Update used product prices from the ‘Start Date’ to the End Date’ section.
	148	+Click on the **fifth** “Select” button – Update used product prices from the ‘Start Date’ to the End Date’ section.
127	127
128		-In the screen that opens, select the product you want to update, date range you want to link and select “Test” in the (% style="color:#2980b9" %)**Custom 1**(%%) field. The Parent should be pre-populated but please do check it.
	150	+In the screen that opens, select the product you want to update, date range you want to link and select “Test” in the **Custom 1** field. The Parent should be pre-populated but please do check it.
129	129
130		- [[image:Calculating and Loading Interim_Final Rates_html_13e8528d92a2925e.png||height="103" width="250"]]
	152	+[[image:Calculating and Loading Interim_Final Rates_html_a0af60637b39519e.gif||alt="Shape9"]] [[image:Calculating and Loading Interim_Final Rates_html_1c23cf620044f3bb.gif||alt="Shape10"]] [[image:Calculating and Loading Interim_Final Rates_html_13e8528d92a2925e.png||height="103" width="250"]]
131	131
132	132	Save and Execute. A report will be produced confirming the prices it would write up:
133	133
134		- [[image:Calculating and Loading Interim_Final Rates_html_c9fe771aada585dc.png||height="104" width="323"]]
	156	+[[image:Calculating and Loading Interim_Final Rates_html_c6eac29d315b5b6d.gif||alt="Shape13"]] [[image:Calculating and Loading Interim_Final Rates_html_b14942133e4d8078.gif||alt="Shape12"]] [[image:Calculating and Loading Interim_Final Rates_html_2def891d203ddc6f.gif||alt="Shape11"]] [[image:Calculating and Loading Interim_Final Rates_html_c9fe771aada585dc.png||height="104" width="323"]]
135	135
136	136	Once satisfied with the results, repeat using the “Live” option.
137	137
138	138	To check that the prices updated correctly, while on the Parent go to:
139	139
140		-(% style="color:#2980b9" %)Client → Investment Products.
	162	+Client → Investment Products. Double click on “Ups” for the product. On the first screen that opens the new prices should appear.
141	141
142		-Double click on “Ups” for the product. On the first screen that opens the new prices should appear.
143		-
144	144	[[image:Calculating and Loading Interim_Final Rates_html_c148949d49fee58c.png||height="141" width="383"]]
145	145
146	146
147	147
148		-(% style="text-align: center;" %)
149		-== (% style="color:#2980b9" %)**FINAL RATE**(%%) ==
	168	+== {{id name="_FINAL_RATE"/}}FINAL RATE ==
150	150
151		-
152		-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.
	170	+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.
153	153	\\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.
154	154
155	155	The implication of each method is:
...	...	@@ -156,27 +156,30 @@
156	156
157	157	__[[Monthly Retrospective Adjustment>>path:#_Retrospective_monthly]]__– All transactions processed in the interim period will have to be repriced. Any claims processed in the interim period will result in either positive or negative orphan units. If you are going to reprocess the claims and either pay additional or claw back overpayments, then this method will work for you.
158	158
159		-(% style="color:#2980b9" %)__Annual Adjustment__(%%) – The transactions for the interim period would be unaffected and the active member values would be adjusted at the final once off date.
	177	+__Annual Adjustment__ – The transactions for the interim period would be unaffected and the active member values would be adjusted at the final once off date.
160	160
161		-(% style="color:#2980b9" %)**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.
	179	+**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.
162	162
163	163
164		-=== (% style="color:#2980b9" %)**Final – Monthly Retrospective Adjustment**(%%) ===
	182	+=== Final – Monthly Retrospective Adjustment ===
165	165
166		-
167	167	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:
168	168
169	169	[[image:Calculating and Loading Interim_Final Rates_html_163d76866478adfc.png||height="209" width="463"]]
170	170
	188	+
	189	+
	190	+
	191	+
171	171	On Everest, manually adjust each month’s price. The import functionality cannot be used. While on the Parent go to Accounts → Investment Products:
172	172
173	173	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
174	174
175		-Double Click on the(% style="color:#2980b9" %)** “UPs”**(%%) button for the product you want to update:
	196	+Double Click on the “UPs” button for the product you want to update:
176	176
177		- [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
	198	+[[image:Calculating and Loading Interim_Final Rates_html_9bb70105408a83b3.gif||alt="Shape15"]] [[image:Calculating and Loading Interim_Final Rates_html_fd2346ffdb565ea6.gif||alt="Shape14"]] [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
178	178
179		-Click on the (% style="color:#2980b9" %)**“New Used Ups” **(%%)button at the bottom of the screen:
	200	+Click on the “New Used Ups” button at the bottom of the screen:
180	180
181	181	[[image:Calculating and Loading Interim_Final Rates_html_7126ffabb5613f89.png||height="59" width="131"]]
182	182
...	...	@@ -184,51 +184,49 @@
184	184
185	185	[[image:Calculating and Loading Interim_Final Rates_html_fe124aaa0aea5a6d.png||height="143" width="259"]]
186	186
187		-In this scenario you will need to (% style="color:#2980b9" %)**reprice**(%%) the transactions for the period. While on the Parent, go to
	208	+In this scenario you will need to **reprice** the transactions for the period. While on the Parent, go to
188	188
189		-(% style="color:#2980b9" %)Accounts → Unit Price Management:
	210	+Accounts → Unit Price Management:
190	190
191	191	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
192	192
193		-Locate the (% style="color:#2980b9" %)“**Link your investments**” (%%)section:
	214	+Locate the “**Link your investments**” section:
194	194
195	195	[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="103" width="573"]]
196	196
197		-Click on the (% style="color:#2980b9" %)**third**(%%) “Select” button – Reprice the cashflows for the selected Investment Policy’ section.
	218	+Click on the **third** “Select” button – Reprice the cashflows for the selected Investment Policy’ section.
198	198
199	199	In the screen that opens leave the policy row blank, populate the date range you want to link, “Check” = No, and “Confirmed Prices Only” = No.
200	200
201		- [[image:Calculating and Loading Interim_Final Rates_html_a33dc31135f02423.png||height="91" width="276"]]
	222	+[[image:Calculating and Loading Interim_Final Rates_html_1c23cf620044f3bb.gif||alt="Shape16"]] [[image:Calculating and Loading Interim_Final Rates_html_a33dc31135f02423.png||height="91" width="276"]]
202	202
203	203	A report will be produced reflecting all the batches that have been repriced:
204	204
205		- [[image:Calculating and Loading Interim_Final Rates_html_42d6c79cb5c90d09.png||height="164" width="407"]]
	226	+[[image:Calculating and Loading Interim_Final Rates_html_dabb0653072121a8.gif||alt="Shape18"]] [[image:Calculating and Loading Interim_Final Rates_html_52c920fdd9c31dd1.gif||alt="Shape17"]] [[image:Calculating and Loading Interim_Final Rates_html_42d6c79cb5c90d09.png||height="164" width="407"]]
206	206
207		-(% style="color:#2980b9" %)**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.
	228	+**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.
208	208
209		-=== (% style="color:#2980b9" %)**Final - Annual Adjustment**(%%) ===
	230	+=== {{id name="_Once_off_Annual"/}}Final - Annual Adjustment ===
210	210
211		-
212	212	For an Annual Adjustment you will need to calculate the closing unit price via an Asset Liability match. To do so follow this procedure:
213	213
214		-(% style="color:#2980b9" %)**Liabilities:**
	234	+**Liabilities:**
215	215
216	216	While on the Parent, run the batch ‘Parent Investment Member Product’ at the year-end date:
217	217
218		- [[image:Calculating and Loading Interim_Final Rates_html_23e36b7dee89d05d.png||height="85" width="274"]]
	238	+[[image:Calculating and Loading Interim_Final Rates_html_6b5d08ff82028557.gif||alt="Shape19"]] [[image:Calculating and Loading Interim_Final Rates_html_23e36b7dee89d05d.png||height="85" width="274"]]
219	219
220	220	Use the ‘By Client’ Report Output for the total values. If you want to see the data at member level, use the ‘By Member’ option.
221	221
222	222	A report will be produced:
223	223
224		- [[image:Calculating and Loading Interim_Final Rates_html_e6e7ba44e13d0b5b.png||height="439" width="443"]]
	244	+[[image:Calculating and Loading Interim_Final Rates_html_a82a2ff8aeafb355.gif||alt="Shape29"]] [[image:Calculating and Loading Interim_Final Rates_html_549f5d6ddbf7bb01.gif||alt="Shape28"]] [[image:Calculating and Loading Interim_Final Rates_html_ea20d567e136c78f.gif||alt="Shape25"]] [[image:Calculating and Loading Interim_Final Rates_html_227ecb1425eccdb4.gif||alt="Shape23"]] [[image:Calculating and Loading Interim_Final Rates_html_8f5f7b301349435b.gif||alt="Shape30"]] [[image:Calculating and Loading Interim_Final Rates_html_f633da10da6a5fff.gif||alt="Shape26"]] [[image:Calculating and Loading Interim_Final Rates_html_f7b76a41325d987f.gif||alt="Shape27"]] [[image:Calculating and Loading Interim_Final Rates_html_34856d1e44029a73.gif||alt="Shape22"]] [[image:Calculating and Loading Interim_Final Rates_html_f7b76a41325d987f.gif||alt="Shape24"]] [[image:Calculating and Loading Interim_Final Rates_html_34856d1e44029a73.gif||alt="Shape20"]] [[image:Calculating and Loading Interim_Final Rates_html_34856d1e44029a73.gif||alt="Shape21"]] [[image:Calculating and Loading Interim_Final Rates_html_e6e7ba44e13d0b5b.png||height="439" width="443"]]
225	225
226	226
227	227	The report shows values for Active Members, Exited Members, and a combined total for both. If there are Exited Member values in the product you are calculating, you need to ascertain if the exits have been paid (call the Parent Investment Member Product report using the ‘By Member’ option). If they have been paid, they must be excluded from the Unit Price calculation.
228	228
	249	+**Assets:**
229	229
230		-(% style="color:#2980b9" %)**Assets:**
231		-
232	232	The total asset value is usually provided by the Actuary / Fund Accountant.
233	233
234	234	To calculate the closing unit price at year end, you divide the total asset value by the total UNITS in the product.
...	...	@@ -235,7 +235,7 @@
235	235
236	236	In this example we are using the total member assets excluding the exits as the exits have already been paid.
237	237
238		- [[image:Calculating and Loading Interim_Final Rates_html_ed5d26b2719bfd15.png||height="103" width="559"]]
	257	+[[image:Calculating and Loading Interim_Final Rates_html_28be6e7cb077eae5.gif||alt="Shape31"]] [[image:Calculating and Loading Interim_Final Rates_html_ed5d26b2719bfd15.png||height="103" width="559"]]
239	239
240	240	//In this example we are calculating the unit price for both products, as both products are included in the total asset value.//
241	241
...	...	@@ -243,22 +243,23 @@
243	243
244	244	Total Assets = 49 832 892.00 (as received from Accounts)
245	245
246		-(% style="color:#2980b9" %)**Unit Price**(%%) = 49 832 892.00 ÷ 276442.52339 = (% style="color:#2980b9" %)**180.264929537**
	265	+**Unit Price** = 49 832 892.00 ÷ 276442.52339 = **180.264929537**
247	247
	267	+**Allocating on Everest:**
248	248
249		-(% style="color:#2980b9" %)**Allocating on Everest:**
250		-
251	251	We now need to adjust the Unit Price on Everest. While on the Parent, go to Accounts → Investment Products:
252	252
253	253	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
254	254
255	255
256		-Double Click on the (% style="color:#2980b9" %)**“UPs” **(%%)button for the product you want to update (note that in this example we need to update the price for BOTH products):
257	257
258		- [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
259	259
260		-Click on the (% style="color:#2980b9" %)**“New Used Ups”**(%%) button at the bottom of the screen:
	276	+Double Click on the “UPs” button for the product you want to update (note that in this example we need to update the price for BOTH products):
261	261
	278	+[[image:Calculating and Loading Interim_Final Rates_html_9bb70105408a83b3.gif||alt="Shape33"]] [[image:Calculating and Loading Interim_Final Rates_html_fd2346ffdb565ea6.gif||alt="Shape32"]] [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
	279	+
	280	+Click on the “New Used Ups” button at the bottom of the screen:
	281	+
262	262	[[image:Calculating and Loading Interim_Final Rates_html_7126ffabb5613f89.png||height="50" width="112"]]
263	263
264	264	Edit the year end unit price to the new final price:
...	...	@@ -271,19 +271,19 @@
271	271
272	272	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="170" width="76"]]
273	273
274		-Locate the (% style="color:#2980b9" %)“**Link your investments**”(%%) section:
	294	+Locate the “**Link your investments**” section:
275	275
276	276	[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="107" width="593"]]
277	277
278		-Click on the (% style="color:#2980b9" %)**fifth**(%%) “Select” button – ‘Update used product prices from the ‘Start Date’ to the ‘End Date’ section.
	298	+Click on the **fifth** “Select” button – ‘Update used product prices from the ‘Start Date’ to the ‘End Date’ section.
279	279
280		-In the screen that opens, select the product you want to update, date range must be the year end, and select “Test” in the (% style="color:#2980b9" %)**Custom 1**(%%) field. The Parent should be pre-populated but please do check it.
	300	+In the screen that opens, select the product you want to update, date range must be the year end, and select “Test” in the **Custom 1** field. The Parent should be pre-populated but please do check it.
281	281
282		- [[image:Calculating and Loading Interim_Final Rates_html_9c7ad50c95447944.png||height="96" width="258"]]
	302	+[[image:Calculating and Loading Interim_Final Rates_html_f3bffbf1954309ed.gif||alt="Shape35"]] [[image:Calculating and Loading Interim_Final Rates_html_1c23cf620044f3bb.gif||alt="Shape34"]] [[image:Calculating and Loading Interim_Final Rates_html_9c7ad50c95447944.png||height="96" width="258"]]
283	283
284	284	Save and Execute. A report will be produced confirming the prices it would write up:
285	285
286		- [[image:Calculating and Loading Interim_Final Rates_html_2fa50f4e6cc1b3db.png||height="108" width="548"]]
	306	+[[image:Calculating and Loading Interim_Final Rates_html_32af388397f965b9.gif||alt="Shape38"]] [[image:Calculating and Loading Interim_Final Rates_html_af650d3df37fc3da.gif||alt="Shape37"]] [[image:Calculating and Loading Interim_Final Rates_html_7b191eac472dcef9.gif||alt="Shape36"]] [[image:Calculating and Loading Interim_Final Rates_html_2fa50f4e6cc1b3db.png||height="108" width="548"]]
287	287
288	288	Once satisfied with the results, repeat using the “Live” option. You will need to do this for each product that needs to be updated.
289	289
...	...	@@ -295,12 +295,11 @@
295	295
296	296	To test the values, you can run the “Parent Investment Member Product” batch to see that the total member values now match the total asset value.
297	297
	318	+**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.
298	298
299		-(% style="color:#2980b9" %)**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.
300		-
301	301	Use the unit price calculator to calculate the new prices for the following year:
302	302
303		- [[image:Calculating and Loading Interim_Final Rates_html_649a53d74e537d43.png||height="116" width="112"]]
	322	+[[image:Calculating and Loading Interim_Final Rates_html_7ca684a96b3d7905.gif||alt="Shape40"]] [[image:Calculating and Loading Interim_Final Rates_html_42c4e4f03d0357f0.gif||alt="Shape39"]] [[image:Calculating and Loading Interim_Final Rates_html_649a53d74e537d43.png||height="116" width="112"]]
304	304
305	305
306	306	On Everest you will need to manually adjust each month’s price. The import functionality cannot be used in this case. While on the Parent go to Accounts → Investment Products:
...	...	@@ -307,11 +307,11 @@
307	307
308	308	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
309	309
310		-Double Click on the (% style="color:#2980b9" %)**“UPs” **(%%)button for the product you want to update:
	329	+Double Click on the “UPs” button for the product you want to update:
311	311
312		- [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
	331	+[[image:Calculating and Loading Interim_Final Rates_html_9bb70105408a83b3.gif||alt="Shape42"]] [[image:Calculating and Loading Interim_Final Rates_html_fd2346ffdb565ea6.gif||alt="Shape41"]] [[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
313	313
314		-Click on the (% style="color:#2980b9" %)**“New Used Ups”**(%%) button at the bottom of the screen:
	333	+Click on the “New Used Ups” button at the bottom of the screen:
315	315
316	316	[[image:Calculating and Loading Interim_Final Rates_html_7126ffabb5613f89.png||height="59" width="131"]]
317	317
...	...	@@ -320,55 +320,25 @@
320	320	[[image:Calculating and Loading Interim_Final Rates_html_fe124aaa0aea5a6d.png||height="143" width="259"]]
321	321
322	322
323		-You will need to (% style="color:#2980b9" %)**reprice**(%%) the transactions for the period. While on the Parent, go to Accounts → Unit Price Management:
324	324
325		-[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
326	326
327		-Locate the (% style="color:#2980b9" %)“**Link your investments**”(%%) section:
328	328
329		-[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="114" width="630"]]
330	330
331		-Click on the (% style="color:#2980b9" %)**third**(%%) “Select” button – Reprice the cashflows for the selected Investment Policy’ section.
332	332
333		-In the screen that opens leave the policy row blank, populate the date range you want to link, “Check” = No, and “Confirmed Prices Only” = No.
	347	+You will need to **reprice** the transactions for the period. While on the Parent, go to Accounts → Unit Price Management:
334	334
335		- [[image:Calculating and Loading Interim_Final Rates_html_a33dc31135f02423.png||height="101" width="306"]]
	349	+[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
336	336
337		-A report will be produced reflecting all the batches that have been repriced:
	351	+Locate the “**Link your investments**” section:
338	338
339		- [[image:Calculating and Loading Interim_Final Rates_html_42d6c79cb5c90d09.png||height="164" width="407"]]
	353	+[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="114" width="630"]]
340	340
	355	+Click on the **third** “Select” button – Reprice the cashflows for the selected Investment Policy’ section.
341	341
	357	+In the screen that opens leave the policy row blank, populate the date range you want to link, “Check” = No, and “Confirmed Prices Only” = No.
342	342
343		-(% style="text-align: center;" %)
344		-== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
	359	+[[image:Calculating and Loading Interim_Final Rates_html_1c23cf620044f3bb.gif||alt="Shape43"]] [[image:Calculating and Loading Interim_Final Rates_html_a33dc31135f02423.png||height="101" width="306"]]
345	345
	361	+A report will be produced reflecting all the batches that have been repriced:
346	346
347		-(% style="color:#2980b9" %)**DISCLAIMER**
348		-
349		-Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.
350		-
351		-In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.
352		-
353		-EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.
354		-
355		-Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.
356		-
357		-
358		-
359		-(% style="color:#2980b9" %)**COPYRIGHT**
360		-
361		-This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.
362		-
363		-
364		-EBSphere (Pty) Limited
365		-
366		-P.O. Box 785803
367		-
368		-Sandton
369		-
370		-2146
371		-
372		-
373		-(% style="text-align:center" %)
374		-[[image:Calculating and Loading Interim_Final Rates_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
	363	+[[image:Calculating and Loading Interim_Final Rates_html_dabb0653072121a8.gif||alt="Shape45"]] [[image:Calculating and Loading Interim_Final Rates_html_52c920fdd9c31dd1.gif||alt="Shape44"]] [[image:Calculating and Loading Interim_Final Rates_html_42d6c79cb5c90d09.png||height="164" width="407"]]

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