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When you process NII distributions for a fund, you can set up the system to:
- Allocate any distribution amount that falls below a minimum yield threshold into an expense reimbursement account to get that share class's distribution amount up to the target distribution yield.
- Use split dividend processing to split mil rates when ex-dates occur on non business days.
- Allow share classes to either distribute net investment income or accumulate net investment income. When a share class accumulates net investment income, the share class can calculate mil rate and yield figures on a daily basis, but the system does not book the distribution amount to the ledger and sub ledger.Waive expenses to separate waiver accounts if expenses exceed income in a fund that elects to fully distribute net income.
- Use yield to minimum processing for waterfall waiver funds that use NII as their daily distribution method to recognize the waterfall waivers. This allows those funds to process their distribution adjustments in a similar manner to how they process their expense waivers.
- Reverse late activity and reprocess NII to include late distribution activity.
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