When you use preferred shares processing, you must identify a NAV rule to use for the master fund. The NAV rule defines a range of ledger accounts that the system uses to calculate a total net asset value for the fund. You can use the NAV rule for the master fund to exclude preferred shares ledger accounts from the total net asset calculation amount.
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Closed end funds require that you exclude preferred stock accounts from the total net assets.You can use the NAV Rule panels to create a NAV rule that excludes preferred stock accounts from the total net assets. You may also need to calculate a net asset value that includes the preferred stock value for use when the system calculates variable expenses for the close-end fund. For details on setting up an adjusted NAV expense rule that includes preferred series ledger accounts, see Set Up Expenses for Preferred Shares Processing. |