FA Fund Management 1.15 - Release notes
Released: March 2024
FA Fund Management 1.15 enables you to start a fund with trade orders, to manage fund groups, and provides other improvements for better usability.
Initial trade order execution for a new fund
Why?
It is common for fund companies to gather initial investments as trade orders from investors. So far, in FA Fund Management initial investments have been added as transactions in client portfolios, and deposit to the fund has been made manually. Now, FA supports both ways of entering initial investments – you can start a fund with transactions or with trade orders.
Who is this for?
This feature is for back- or middle-office users of FA Fund Management.
Details
Initial investments are added as trade orders into the new fund, in a similar way as subscriptions in the later phase when the fund is active.
On the inception date when a new share class starts, a back-office user can start the fund in FA Fund management. As a result, the system executes the trade orders, with the initial price set in share class settings. The system also adds initial investment sum to the fund portfolio and creates technical zero-amount fee transactions based on fund and share class fee settings.
After this, the fund and the share class are ready for use. The fund manager can start investing, and new subscriptions for a fund can be done.
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Learn more: Create initial investments.
Managing fund groups
Why?
We want to develop FA Fund management as an independent application that can be used without FA Back on the side.
Who is this for?
This feature is for all FA Fund Management users. It can be used to manage the order of the NAV calculation. For example, if a fund manager has fund of funds and wants to calculate NAV in phases.
Details
All fund groups can be viewed in FA Fund Management, and static fund groups can be edited and deleted as well. You can change name and choose which funds belong to a group. You can also check to which groups the fund belongs.
To manage the NAV calculation order, include your funds in different groups. Select the fund group in the NAV status view, and filter funds that are pending calculation. Once you selected the funds, you can mass-calculate NAV for them. When the calculation is done and NAV is accepted, you can calculate NAV for the next group.
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Learn more: Create fund groups.
More informative NAV report file name
Why?
It was hard to identify which stage of the NAV calculation process the NAV report comes from. Now, this information is included in the file name.
Who is this for?
This feature is for fund companies that use FA Fund management for NAV calculation.
Details
You can now tell by the file name at which stage the NAV report was created. This is useful for example if you want to check NAV reports in the Overview in FA Back.
An example file name for a report when NAV is calculated: NAV_XXXXXXX_20240121_20231027073136_NAV_calculated.xlsx. Other suffixes are:
NAV_accepted
Fees_calculated
Fees_accepted
Unoff_calculated
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Other improvements
Now we also support fund switches executed in FA Fund management. When the redemption is executed, the linked subscription is updated with the redeemed amount.
Fund, Share class and Fund company wizards are now implemented with new user interface components.
Fixes
Account creation in Fund and Share class wizards
We fixed an issue that caused a new fee account creation to fail.
NAV status
The column in the side pane is now visible on smaller screens.
Fixed an issue that caused audit logs to fetch only the latest data – the date changing didn’t fetch earlier logs.
NAV view
Fixed an issue in Liabilities and receivables row that showed empty fields without any number.
NAV report (PDF)
Fixed an issue that caused empty pages.
Fixed an issue with Market value of investments and Fees fields that were cut if they didn’t fit into a single page.
Shareholder registry
When creating a unit certificate, the system now warns the user if the units aren't in the same portfolio or the amount is bigger than the holdings.
Updates to FA Fund management 1.15
FA Fund management 1.15.1 - Release notes
FA Fund management 1.15.1 is an update to FA Fund management 1.15. This update includes the following fixes:
Fixed an issue in the details pane where the same account balance was shown for all accounts when the account names were identical.
Clicking on the FX hedging row in the NAV overview no longer crashes the view.
FA Fund management 1.15.2 - Release notes
FA Fund management 1.15.2 is an update to FA Fund management 1.15. This update includes the following fix:
Account balance was incorrect because unsettled cash transactions (receivables and liabilities) affected the account balance. The current balance is only based on settled transactions.
FA Fund management 1.15.3 - Release notes
FA Fund Management 1.15.3 is an update to FA Fund Management 1.15. This update includes the following fixes:
Resource use in FA Monitoring no longer fails to show any data when you select "fund-service".
The NAV change % column in the NAV status view, Share classes tab now shows the correct value. The value was incorrect when the Multiplier and Multiplier 2 fields were in use.
NAV status view no longer shows the same value for multiple rows when some NAV components have identical names.
FA Fund Management 1.15.4 - Release notes
FA Fund Management 1.15.4 is an update to FA Fund Management 1.15. This update includes the following fix:
NAV calculation is no longer prevented when some transactions do not have an account.
FA Fund Management 1.15.5 - Release notes
FA Fund Management 1.15.5 is an update to FA Fund Management 1.15. This update includes the following fix:
If a fund has the breakdown of cash transactions configured for it, producing a deposit transaction into the fund no longer fails.
FA Fund Management 1.15.6 - Release notes
FA Fund Management 1.15.6 is an update to FA Fund Management 1.15. 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 1.15.7 - Release notes
FA Fund Management 1.15.7 is an update to FA Fund Management 1.15. 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 1.15.8 - Release notes
FA Fund Management 1.15.8 is an update to FA Fund Management 1.15. 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.