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FA Fund Management 1.9 - Release notes

Released: October 2022

FA Fund Management 1.9 provides you with several features to help you manage different kinds of funds. We have made a few improvements for the income distribution feature. It is now possible, for example, to calculate the tax on the accrued income. You can also execute additional NAV calculations between scheduled ones.

Non-scheduled NAV calculation

You can now calculate additional NAVs regardless of the basic schedule you have defined for your fund in the fund settings. This is useful if you need to calculate additional NAVs or fees and you can’t pre-define the schedule for those. For example, your fund’s NAV is calculated only quarterly but your fund rules allow you to calculate the NAV more often, in case your fund accepts additional investments between quarterly scheduled NAV dates.

Before, you needed to edit your fund's schedule to permit calculating NAV on non-scheduled dates. Now, you can allow non-scheduled calculations in your NAV schedules (NAV, fees, and unofficial NAV) – this lets you start NAV calculation outside the scheduled dates.


Learn more: Create a fund in FA Fund management reference.

Warnings in NAV reports

When FA Fund Management calculates NAV, it performs checks based on fund and NAV settings, decision table rules, and limits. The warnings that result from these checks are shown in the NAV window, Warnings tab.

Now warnings are also brought in the NAV reports, both in PDF and XLSX versions. In the PDF report, you can find the warnings at the end of the report. In XLSX report, warnings are in a separate tab.


Learn more: NAV report (PDF), NAV report (XLSX) in FA Fund management reference.

Improvements to income distribution calculation

This version introduces new options for income distribution, and makes setting up your fund's income distribution calculation more straightforward. Income distribution keeps track of the fund's accrued income and calculates the tax on it if needed. FA Fund Management app calculates the accrued income based on the bookkeeping postings and records the result into your fund every time you calculate NAV.

Setting up income distribution

You can now set up income distribution easier for your fund since all settings are gathered on the fund level, and you don't need to add those to all share classes. You just add settings once to your fund.

Learn more: Set up income distribution in FA Fund management reference.

Support for calculating accrued tax

It is required with certain legislation, that if you don't distribute income, the fund needs to calculate and accrue tax. When your fund doesn’t distribute income to shareholders as dividends you can calculate the tax part of accrued income by configuring it in the fund details.


Learn more: Create a fund in FA Fund management reference.

Separating income distribution postings

Calculating the income distribution is based on bookkeeping postings, and you can now configure your NAV calculation to only consider accounting rules that are relevant to your income distribution calculation. This allows you to have separate accounting rules for generating postings for income distribution from your other accounting rules, and only include the ones related to income distribution in your NAV processing.

This way you can separate income distribution-related postings from other postings. This is also useful since when NAV is calculated only postings generated by the selected accounting rules are updated as Ready.


Learn more: Learn more: Create a fund in FA Fund management reference.

User-defined decimals in NAV and fee calculation

This improvement lets you calculate fees even more precisely. It prevents rounding errors when summing up fees when you accrue daily fees over time. You can now define the number of decimals to use for fee transactions in FA Back.

NAV calculation has been changed so that it doesn't round the amounts in between calculations. The final resulting total GAV and NAV are calculated with a decimal amount defined in the fund portfolio’s currency.

Learn more: Portfolio window in FA Back reference.

Tools to notice and recover from failed NAV acceptance

We have added a new tool for you to notice and recover from the rare situation when there has been a system-level error in the FA platform while accepting NAV.

The system recognizes now if the acceptance has failed. You notice the failed acceptance from NAV status view from status Error. You can then hover your mouse on top of the exclamation mark icon and see when it has failed and which step you should manually check and cancel possible transactions from FA Back. In this kind of situation, you can roll back failed acceptance from the cancel button in fund details. The button removes changes made during the acceptance.


Smaller improvements

Usability improvements. We improved Fund wizard and Reporting data window by moving tabs from the top to the left. Now all tabs are visible and easier to read.

Fund wizard suggests opening a share class. After you have created a new fund with the Fund wizard, the system suggests opening a share class for the new fund. This allows you to easily create a new share class through the Share class wizard.

Fund periodic fixed fee formula available as formula. You can now use a new Fund periodic fixed fee formula for your fund. The formula is derivative of the existing Periodic fixed fee formula. You can define it in the Fee structure tab of Fund and Share class wizards.


Fund wizard

  • Calculation delay in fund settings works as it should, always showing the correct calculation delay. Before when the user opened the fund setting screen it showed the calculation delay always as 0. After the saving, value 0 was saved if the user didn’t correct it.

  • Default transaction type for withdrawals in the order execution tab now shows correct value.

Rolling back NAV

  • Rollback of NAV now properly sets bookkeeping postings back to status "Ready" for funds that accrue income.

Updates to FA Fund Management 1.9.1

FA Fund Management 1.9.1

FA Fund Management 1.9.1 is an update to FA Fund Management 1.9. This update includes the following fixes:

  • Generation of the Shareholder registry report works now also for funds with several shareholders without problems.