Caruso allows you to manage an investing entity’s holdings through various transaction types, including unit issuance, unit redemptions, unit transfers, and secondary market transfers. Understanding how ownership dates and available units work is essential to ensure transactions are processed correctly.
Step 1: Understanding Ownership Dates
Caruso processes unit movements as T+1 by default unless changes otherwise. This means a transaction made on 1 January will take effect at the end of 1 January.
How ownership dates work for each transaction type:
Transaction | Ownership Date (T+1) | Impact |
Unit issuance | Effective at the end 1 January | Earns distributions from 2 January |
Unit redemption | Effective at the end 1 January | Earns distributions on 1 January, |
Unit transfer | Effective at the end of 1 January |
|
Secondary market transfer | Effective at the end of 1 January | Same as transfer |
Note:The ownership date concept (start of day T+0 or end of day T+1) means that multiple transactions can be in progress at once, potentially reducing a holding’s available units.
Step 2: What Are Available Units?
Available units show how many units can actually be used for new transactions that will reduce the holding balance, such as redemptions or transfers out.
The available unit calculation is:
Current holding (as displayed on the day)
Minus any redemptions (in Requested or Completed state that have not yet taken effect)
Minus any transfers (that have not yet taken effect)
To review pending orders and transactions, check the investing entity’s Orders and Transactions tabs.
Step 3: How Are Available Units Used?
When you try to create a transfer or redemption request, Caruso will prevent the request if there are insufficient available units.
If you believe the available units shown are incorrect, review your current orders and pending transactions.
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.