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FA Fund Management 1.2 - Release notes

FA Fund Management 1.2 [latest updated version 1.2.3] has been released.

FA Fund Management 1.2

Contains:Features related to daily operations of calculating NAV on a mutual fund

Released: April 21st, 2021

Improvements - see FA Fund Management 1.2 Release notes for more details.

FA Fund Management 1.2 Release notes.pdf

  • See which funds are in queue to be calculated or accepted

  • See who calculated or accepted the latest NAV and when

  • Improvements in the NAV window related to showing certain details

  • More columns in the portfolio section in the NAV XLSX

  • Running deferrals as part of the NAV calculation

In addition to the improvements highlighted in the release notes, FA Fund Management 1.2.0 includes the following bug fixes:

  • Calculating NAV now correctly runs the fund portfolio's limits, ensuring that you see the warnings and breaches from your limits as calculation warnings.

  • You can now set up your fund's calculation schedule also with a custom holiday calendar - custom holiday calendars are now interpreted correctly when calculating the NAV of a fund.

  • You can now configure in Fund Settings how you want the system to determine the account of your shareholder's subscriptions and redemptions when the system automatically executed outstanding orders when accepting NAV. You can select to always use the default account, use the currency account or use trade order's account - before, the automatic execution always recorded the outstanding subscriptions and redemptions agains shareholder's default account when automatically executing orders.

  • When accepting NAV, the user name of the user who did the acceptance is now correctly recorded for saved documents and market data. NAV reports stored under the fund portfolio now show the user's user name in "Last modified", and market data entires show the user's user name in their versions.

  • When accepting NAV, the system now correctly stores all cash transactions (e.g. shareholder deposits into the fund and share class specific fee transactions) even when the share class currency differs from the fund portfolio's currency. The logic now ensures the currency of such transactions is determined correctly, allowing the transactions to be stored into the system.

  • Date selector in the NAV window has been improved in terms of usability and intuitiveness. You can now input a date manually, the calendar where you can select dates manually opens up also when you click the calendar icon, and the input prompt now follows the same date format as a selected date does.

  • NAV reports no longer unnecessarily show swing and accrued income values for funds that are not using swing pricing or don't track accrued income.

  • Funds in the NAV status screen are now by default sorted alphabetically by fund name, making it easier for you to locate the fund you are looking for.

  • Shareholder registry now allows you to select to view shareholders of all your fund portfolios, or portfolios included in any of your fund groups. Before, the Shareholder registry allowed you to select from funds in the group FAFUNDS, but now it lists funds in any of the groups starting with FAFUNDS.

  • All fee formulas, including the accrued kickback formulas, now work correctly when calculating NAV. Before, some fee formulas failed to produce a result due to incompatible technologies.

  • In addition, when you update a fee formula in FA Back, for example though installing an update through FA AppStore, the changes in the formula are now correctly reflected in FA Fund Management application as well no later than one hour after the changes are done.

  • FA Fund Management application no longer unintendedly runs scheduled processes that are meant to be run in FA Back. The problem was that scheduled processes randomly didn't seem to trigger at all in FA Back, and it turned out that the trigger was fired by FA Fund Management, which wasn't able to run the process. This is now prevented, ensuring that all scheduled processes run in FA Back only.

  • In addition, the system now clears a fund's status if it has been "Calculation in progress" or "Acceptance in progress" for more than 30 minutes. This is done for better fault-tolerance and to prevent situations when a calculation or acceptance might be "stuck" - the "in progress" status is cleared after a sufficient time, and if the calculation or acceptance didn't go through, you can try again.

Updates to FA Fund Management 1.2:

FA Fund Management 1.2.1 Release notes

Version 1.2.1 is an update to FA Fund Management 1.2. This update includes the following improvements and bug fixes:

  • You can now define an "account number for cash transactions" in the Share class settings, allowing you to decide per share class which fund portfolio's account you want to use for the cash transactions generated for the share class from client subscriptions and redemption generated for the share class during NAV calculation. This allows you to manage situation when your fund has several share classes and you'd want to direct cash transactions from each share class to a specific account. You can define the "account number for cash transactions" either in Share class settings per each share class or in Fund settings if you want to use the same settings for the entire fund - if you leave these settings empty, cash transactions are directed to fund portfolio's default account.

  • You can now calculate NAV also when the "calculation delay" defined in Fund settings is something else than 0. Next calculation dates are now updated correctly also when calculating NAV on a single fund, and accepting NAV updates the calculation schedule correctly.

  • You can now calculate NAV also on funds that have the setting "accrued interest on settlement date" on the fund portfolio and are using a custom holiday calendar.

  • You can no longer export the fund listing from the NAV Status screen into a CSV. The hierarchy in the fund listing did not export correctly in CSV format, and disabling the CSV export also prevents an information security vulnerability related to formula injection.

FA Fund Management 1.2.2 Release notes

Version 1.2.2 is an update to FA Fund Management 1.2. This update includes the following bug fixes:

  • Cash and fee transactions created after the NAV is accepted now always show their FX rate in a correct way, ensuring that the created transaction's values are also shown in a correctly. Before, when an FX rate was needed in a cash or a fee transaction, the FX rate was occasionally stored "the wrong way around" depending on the involved currency crosses and their underlying data.

FA Fund Management 1.2.3 Release notes

Version 1.2.3 is an update to FA Fund Management 1.2. This update includes the following bug fixes:

  • Reliability improvements for mass-calculations.