Skip to end of metadata
Go to start of metadata

You are viewing an old version of this page. View the current version.

Compare with Current View Page History

Version 1 Next »

The Swing Decision Rule is a global rule that determines whether a fund applies swing NAV adjustment to accounting. Creating a swing decision rule involves setting up the swing election, estimated evaluation, and threshold value fields. You first need to create a swing decision rule for funds that are eligible for swing pricing. You can attach a swing decision rule to multiple funds.

Create Swing Decision Rules

In the Create Swing Decision Rule panel, you can create a new swing decision rule for swing pricing.

To create a swing decision rule:

  1. In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Swing Pricing > Create Swing Decision Rule.
    You see the Create Swing Decision Rule panel.

  2. Complete the options on the panel.

  3. Click Submit.

On this page

Create Swing Decision Rule Panel Options

The following are the options in the Create Swing Decision Rule panel where you create swing decision rules for swing pricing. 

Option

Tag

Description

Add Swing NAV Decision Rule

 

 

Rule Name

4846

Specifies the name of the swing decision rule you are adding.

Swing Election

1142

Specifies the type of swing pricing. Options include:

  • Partial. The fund loads a daily cash flow estimate and compares it to a predefined threshold. If the estimated net cash flow exceeds the threshold, the fund applies the swing factor and calculates a swing NAV adjustment for the day.

  • Full. The fund always applies the swing factor and calculates a daily swing NAV adjustment.

Estimate Evaluation

11760

Specifies the fund evaluation criteria for estimated cash flow. Options include:

  • Inflow. The fund applies the Ask swing factor and calculates the swing NAV adjustment if the estimated cash flow is a positive inflow.

  • Outflow. The fund applies the Bid swing factor and calculates the swing NAV adjustment if the estimated cash flow is a negative outflow.

  • Netflow. The fund applies the Bid or Ask swing factor and calculates the swing NAV adjustment when the estimated cash flow is a negative outflow or positive inflow, respectively. This is the most widely used option.

Threshold Method

16613

Specifies whether the fund uses a percentage or cash amount value to establish the threshold for estimated cash flows. This field appears if you set the Swing Election field to Partial. Options include:

  • Percent. The fund uses a percent value to determine Bid and Ask thresholds for estimated cash flows.

  • Cashvalue. The fund uses a base cash amount value to determine Bid and Ask thresholds for estimated cash flows.

Threshold Value Bid

8658

Specifies the Bid threshold value for determining swing decisions when the cash flow is negative (net redemption). This field appears if you set the Swing Election field to Partial and the Estimate Evaluation field to Outflow or Netflow.
NOTE: You should enter a negative percent or cash value for majority of swing to BID cases.

Threshold Value Ask

8660

Specifies the Ask threshold value for determining swing decisions when the cash flow is positive (net subscription). This field appears if you set the Swing Election field to Partial and the Estimate Evaluation field to Inflow or Netflow.

Effective Date

1109

Specifies the date on which a threshold takes effect. You can primarily use this field to project new thresholds for a future date while still using existing threshold for the current day.

Swing to Accounting

9549

Specifies whether the swing adjustment posts to the ledger in Eagle Accounting. Options include:

  • Inside. The calculated swing NAV adjustment posts to the ledger in Eagle Accounting, impacting nightly distribution yields and next-day expenses that use prior day Total Net Assets (TNA) components. 

  • Outside. The calculated swing NAV adjustment does not post to the ledger in Eagle Accounting and has no impact on distribution yields and next-day expenses.

You can view the pre and post swing TNA and NAV per share information using the /wiki/spaces/PDDRAFT/pages/10597236793.

Change Swing Decision Rules

In the List, Change or Delete Swing Decision Rules panel, you can edit an existing swing decision rule for swing pricing.

To change a swing decision rule:

  1. In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Swing Pricing > List, Change or Delete Swing Decision Rules.
    You see the List, Change or Delete Swing Decision Rules panel.

  2. In the Please Select Action field, select Change Swing NAV Decision Rule.

  3. Click the Query Options field, and select the query parameter to use to filter query results. Additional fields appear after you select a value.
    Options include:
    - All Records. Default. Allows you to view all created swing decision rules.
    - Relationship Rule Name. Allows you to view a single swing decision rule.
    - Relationship by Entity. Allows you to view swing decision rules for a specified entity.

  4. Specify the Swing Decision Rule Name field value to identify the name of the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Rule Name.

  5. Specify the Entity ID or Entity Name field value to identify the entity associated with the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Entity.

  6. Click Submit.
    You see a list of swing decision rule details that met your criteria in the Show All tab.

  7. Select the check box for one or more rows of the rule details that you want to edit, and click Change Swing Entity Rule Relationship.
    You see the selected rule details in the Change Swing Entity Rule Relationship panel. The pane at the bottom of the panel includes a row for each selected sequence in the swing decision rule.

  8. Change the selected swing decision rule criteria. 
    You can change all values with the exception of the swing decision rule name.

  9. Click Submit.
    The system updates the selected details for the swing decision rule.

List Swing Decision Rules

In the List, Change or Delete Swing Decision Rules panel, you can view a list of swing decision rules.

To view a list of swing decision rules:

  1. In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Swing Pricing > List, Change or Delete Swing Decision Rules.
    You see the List, Change or Delete Swing Decision Rules panel.

  2. In the Please Select Action field, select List Swing NAV Decision Rule(s).

  3. Click the Query Options field, and select the query parameter to use to filter query results. Additional fields appear after you select a value.
    Options include:
    - All Records. Default. Allows you to view all created swing decision rules.
    - Relationship Rule Name. Allows you to view a single swing decision rule.
    - Relationship by Entity. Allows you to view swing decision rules for a specified entity.

  4. Specify the Swing Decision Rule Name field value to identify the name of the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Rule Name.

  5. Specify the Entity ID or Entity Name field value to identify the entity associated with the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Entity.

  6. Click Submit.
    You see report results in the Swing Rule Relationships tab, along with a list of swing decision rules that met your criteria in the Show All tab.

Delete Swing Decision Rules

In the List, Change or Delete Swing Decision Rules panel, you can delete a swing decision rule.

To delete a swing decision rule:

  1. In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Swing Pricing > List, Change or Delete Swing Decision Rules.
    You see the List, Change or Delete Swing Decision Rules panel.

  2. In the Please Select Action field, select Delete Swing NAV Decision Rule.

  3. Click the Query Options field, and select the query parameter to use to filter query results. Additional fields appear after you select a value.
    Options include:
    - All Records. Default. Allows you to view all created swing decision rules.
    - Relationship Rule Name. Allows you to view a single swing decision rule.
    - Relationship by Entity. Allows you to view swing decision rules for a specified entity.

  4. Specify the Swing Decision Rule Name field value to identify the name of the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Rule Name.

  5. Specify the Entity ID or Entity Name field value to identify the entity associated with the swing decision rule you want to view.
    This field appears if you set the Query Options field to a value of Relationship by Entity.

  6. Click Submit.
    You see a list of swing decision rule details that met your criteria in the Show All tab. Each row represents a rule sequence grouping.

  7. Select the check box for one or more rows of the rule details that you want to delete, and click Delete Swing Entity Relationship.
    You see the selected rule details in the Delete Swing Entity Relationship panel. The pane at the bottom of the panel includes a row for each selected sequence in the swing decision rule.

  8. Review the rule criteria that you selected for deletion.
    You cannot change any values displayed for the rule.

  9. Click Submit.
    The system deletes the selected details for the swing decision rule.

  • No labels