Add Deposit to Active Allocation

Release Note

Introduction:

In current scenario once, investor start allocation with certain amount he is not able to increase the same. Now we are giving provision to increase the amount for the active allocation.

In this document we are describing the settings for adding new deposit and its impact in application while deducting fees.

Super admin settings

Super admin can manage the “Allow additional deposit” settings from the module settings.

Super admin can select the broker admin to whom this setting should be provided using following path:

Super adminModule settingsSelect Broker Settings

Broker admin settings

Broker admin can set the minimum additional deposit amount from the Settings Fund settings as show below:

Account Setting for minimum additional deposit

Fund itself and broker admin can set the minimum amount which investor can add from account settings.

Once the fund set the minimum additional deposit then broker admin can increase the same. Broker admin cannot decrease this amount.

Note:

In case of global fund as well value set by global fund can increase by the broker admin of another site but broker cannot decrease this amount.

Add Deposit option for active location

We are providing Add deposit option in following path AllocationsActive allocations Action Edit allocation as shown below:

Investor can add the deposit amount from this option. Investor can deposit from available balance. When investor click on add deposit button then management fees and subscription fees for additional deposit get displayed:

Note:

Minimum additional deposit set by fund and minimum deposit set by broker admin is compared and maximum value is displayed in the add deposit option. If currency of broker, fund and investor is different then all amounts are converted into investor currency and displayed.

When deposit is added to allocation then additional deposit details are added in view details option in AllocationActionView details as shown below:

Impact on the fees [Invest Fund]

Subscription Fees [Invest Fund] Subscription fees should be charged immediately after adding new deposit with same rate set by Invest fund.

If subscription fees set by the fund is 10% and is deducted when allocation has been started on 2nd of the month with allocation amount of 10000 then subscription fees of 1000 will be deducted.

When user added deposit of 1000 afterwards on 15th of the month then subscription fee of 100 rupees will be deducted for this additional deposit immediately.

Note:

In case of invest fund, subscription fee is deducted one time. Subscription fees will be deducted on the additional deposit.

In case of mirror fund fixed amount is set as subscription fees for monthly or weekly, so the fees will not get deducted for mirror funds on additional deposit.

Management Fees [Invest Fund] Management fees should be charged immediately after adding new deposit with same rate set by fund.

If allocation is started at 2nd of month and Management fees set by the fund is 10% and allocation amount is $10000 then management fees should be deducted as $1000

When the additional deposit of the $500 is added afterwards on 10th of the same month then management fees of $50 will be deducted for this additional deposit immediately.

In the next month management fees should be deducted based on the current balance.

Note:

Fixed fees and exit fees working will be remain same as current working.

Performance Fee calculations are yet to finalised.