Did You Know? | How to book Subscriptions and Redemptions

Subscriptions and Redemptions are processed differently in Arbor’s Portfolio Management System. How you book them affects our calculations of your monthly returns.

Where do I book them?

In order to book Subscriptions and Redemptions:

  • Go to Trade Entry
  • Choose Product Type: Cash
  • Choose Cash Type: either Subscription or Redemption
  • Fill in the relevant details

Which dates should I select?

This is important. Redemptions are processed as going out at the end of the selected date. By contrast, Subscriptions are processed as going out at the start of the selected date. This processing logic affects which dates you should pick.

Redemptions

  • For example, if you have a Month End Redemption for May.
  • Select May 31st – it will go out at the end of this date, and hence the end of the month.
  • If you instead select, for example, June 1st, the pre-redemption monthly returns will be calculated from May 1st – June 1st.

Subscriptions

  • For example, if you have a Month Start Subscription for June.
  • Select June 1st.
  • If you select, for example, May 31st, then pre-subscription monthly returns will be calculated from May 30th.

Monthly returns are calculated using this GIPS 2010 Logic, to generate time-weighted average performance statistics.

This means that for a Subscription or Redemption occurring on, for example, the 14th of June, then in order for this to be processed so that Month-to-Date returns are 31st May to 13th June, you should:

  • Book the Subscription for the 14th of June.
  • Book the Redemption for the 13th of June.


Where can I view these figures?

You can view Subscriptions and Redemptions in:

  • Portfolio Summary

In order to give the Monthly Returns after the inputting of Subscriptions and Redemptions, go to either:

  • Position Reporting
  • Portfolio Summary

My Subscriptions/Redemptions are more complicated, what should I do?

This page has described how APM handles Subscription and Redemptions at the Master Account level and assumed no FX rate issues.

If you need more information on share class level, or on how to handle FX rates in Subscriptions and Redemptions, head to our online documentation. If you need help logging in to access this document, please contact us for your log-in details.

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