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The baseline entity record would appear as shown in the following table.

PACE also provides a companion table (RULESDBO.ENTITY_EXTENSION_HIST) that has a dedicated column (MFP_CONV_PARENT_ID) for maintaining the convertible relationship. If FUND1B converts into FUND1A, the database entry would appear as shown in the following table.

Note that the record for entity id FUND1B has the column MFP_CONV_PARENT_ID set to FUND1A. This means that when PACE is calculating a convertible return, it uses the fund accounting data of FUND1B from the start date of the return period up to the calculated conversion date. It then converts over to use the data for FUND1A from conversion date up through the end date of the performance period.

MFP_Conv_Parent_ID is an optional field that only needs to be populated if a fund is subject to being converted. If used, it MUST be populated with the ENTITY_ID of the share class to which the starting fund converts. Although in practice, conversions are always within a single product (and typically B to A share), PACE was designed to support convertible relationships between any two entity id's in PACE. In addition, the calculation also supports nested conversions (for example where B converts to A, and A converts to D). PACE does not support nested conversions where a circular reference exists. For example: B converts to A, then A converts to D, and then D converts back to B.Note: The