When you are setting up master funds with Fixed Rate as their daily distribution method, ensure you review the master fund's Fund Distribution Fields settings. You can use the Create Master Fund panel or You must set up several options for each master fund that use fixed distributions prior to posting distributions.
WRITERS NOTE: this topic was updated for 2017
To set up a master fund for fixed rate distribution processing:
- In Accounting Center, in the left navigation pane, click Setup > Portfolio Setup >Mutual Funds>Create Master Fund.
You see the Create Master Fund panel where you can add a master fund. Otherwise, you can select the Edit Master Fund/Sector
...
- option to change a master fund.
- In the Daily Distribution Method list, click Fixed Rate.
When you use this method, the system distributes a specified percentage of cap stock as income. If you select this option, the Fixed/NII Distribution Shares fields becomes available. - In the Fixed/NII/Set Rate Distribution Shares list, select the share base of the fixed distribution.
Options include:
- Outstanding Shares
- Settled Shares - Complete the remaining options in the panel, as appropriate.
- Click Submit.
For a complete list of the Fund Distribution Fields options and other panel options, see Create Master Fund Panel Options.