Skip to main content

Share class wizard

The Share class wizard lets you create, edit or delete a fund share class. When you create a share class in the Fund management app, FA creates a share class security with the specified properties in FA Back.

To add a share class, click the Add share class button in the Fund details pane.

To edit a share class, click the edit.png button in the Share class details pane.

To delete a share class click Delete in the Share class wizard. You can delete a share class only if it doesn't have any transactions and isn't used in benchmarks.

Basic info tab

Share class details and NAV calculation settings.

Code*

A unique code defined for the share class. The code is used to identify the share class security and search for securities in the system. We recommend using numbers and letters (a-z) and avoiding special characters in the security code.

ISIN

The ISIN code of the share class security.

Name*

Name of the share class security.

Type*

Share class security type. Choose the type that is configured for funds in Preferences. If you have standard solution configuration, use Collective investment vehicles type.

Holiday calendar*

A holiday calendar that determines business days and holidays in the market to set a settlement date for subscriptions and redemptions. Holiday calendar options are configured in Preferences. You can also set the default holiday calendar used for new securities in Preferences.

Share class priority

The order in which share class NAVs are calculated if there are multiple share classes. The NAV for the share class with the highest priority is calculated first.

Decimal count for transaction units

Number of decimals used in the units field of the client transactions. If the field is empty, the number of decimals set for the security type is used.

Pricing tab

Unit price settings:

Currency

Share class currency – the currency share class units are quoted in.

Initial price

(Set for a new share class). Initial price of the share class unit. Initial unit price is used for the first NAV calculation. The price you enter is copied to the Market data info tab in the Security window in FA Back.

Date of initial price

(Set when you create a share class). The date for which the initial unit price is valid.

Format

Unit price multipliers to use in calculations. For more information about multipliers, see the description of the Basic info tab in the Security window. Choose one of the options:

  • Show price as is – Show the share class unit price without any multipliers.

  • In percentage – Use "100" in both Multiplier fields for the security.

  • Add manually – Enter the multipliers in the fields below.

Decimals for share class NAV

The number of decimals used in the share class NAV. If the field is empty, NAV is stored with 10 decimals.

Fee structure tab

The Fee structure tab defines costs and fees applied on the share class level. Click Add fee and enter the information about the share class fees:

Ongoing charges

Fee formula

Fee formula used to calculate the fee and generate fee transaction.

Fee transaction type

Transaction type linked to the chosen fee formula.

Amount or %

Fee percentage or amount in the fund currency, depending on the fee formula.

Decimals

The number of decimals used for calculating fees (0 to 10). The “Default” value is 2 decimals.

Include in income distribution

Include the fee in the income distribution calculation.

Formula sets its own account

Set an account for the fee formula. For example, this can be useful with accrued account interest transactions over multiple accounts.

Use crystallization schedule for capitalization

Capitalize fees automatically on the crystallization date when you accept NAV. The crystallization dates are defined in the Fund wizard, Schedules tab. Fees are capitalized to the account that has “Fee capitalization” tag. If no account is marked with this tag, fees are capitalized to the default cash account.

Transaction fees

The Transaction fees section contains parameters for subscription and redemption fees and charging them automatically when you calculate NAV. Choose Enable transaction fees and enter the subscription and redemption fee parameters:

Cost percentage

Fee percentage to calculate the fee amount.

Minimum

The minimum fee amount to charge.

Currency

Fee currency automatically set to the share class currency.

Performance fee equalization

The Performance fee equalization section contains parameters to calculate and equalize performance fee. In addition to choosing the fee parameters here, you need to define the crystallization schedule in the Fund wizard, Schedules tab, and the fee formula in the Fund wizard, Fee structure tab.

Fee percentage

Fee percentage to calculate the fee amount.

Hurdle rate

The minimum NAV increase above HWM starting from which the performance fee is paid. Uses Act/Act day count convention is used to calculate the period for which the increase is counted.

High-water mark

The initial high water mark (HWM) to use for the performance fee calculation. Usually, HWM is set to the highest NAV value in the share class. On the crystallisation date, FA Fund Management compares the share class NAV to the HWM. If NAV is higher than HWM, the HWM value is updated to the current NAV value.

High-water mark date

The date on which high-water mark is set.

Cash transactions tab

Account settings to handle deposits and withdrawals.

Account number

A fund portfolio account to record deposits and withdrawals to. If the field is empty, the account in the fund settings or the default account is used.

Tax reporting tab

Settings for the Finnish tax reporting: fund company business ID and fund business ID.

FX hedging tab

FX hedging settings:

FX hedge transaction type

Transaction type for accrued FX hedge transaction.

Portfolio

Portfolio that contains the FX forward.