You can add an adjusted NAV expense rule to a variable expense in order to retrieve an adjusted NAV Amount. An adjusted NAV expense rule is a user defined rule that provides the flexibility to determine the dollar amount used in a variable expense calculation. The rule defines the criteria needed for gross assets, targeted ledger accounts, managed assets, and complex managed assets. You can define an adjusted NAV expense rule with a rule type of Ledger Based or NAV.
When the system calculates the underlying NAV Compoonent for a variable expense that uses the Ledger Based method, the starting point is zero. For rule components included in the adjusted NAV expense rule, the system adds the net amount to the ledger based NAV. For rule components excluded in the adjusted NAV expense rule, it subtracts the net amount to the ledger based NAV.
When the system calculates the underlying NAV Compoonent for a variable expense that uses the NAV method, the starting point for the underlying NAV component specified on the variable expense is the selected NAV component. For example, the NAV Component value is Prior Day Total Net Assets, Adjusted Net Assets, or Average Net Assets. The system subtracts the total amount associated with the adjusted NAV expense rule criteria from the underlying NAV amount used in the variable expense setup. That is, the system deducts the NAV amount associated with the rule criteria from the underlying NAV amount in calculations.
0 Comments