Caruso allows you to manage an investing entity's holding through various transaction types;
Unit issuance
Unit redemptions
Unit transfers
Completing a secondary market transfer
Ownership Date
Caruso processes unit movement as a T+1 by default. In the transactions above, this means a transaction on 1 January;
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 |
|
Completing a secondary market transfer | Effective at the end of 1 January | Same as transfer |
The concept of an ownership date at the start (T+0) or the end (T+1) of a day, means that there is a chance that users could create subsequent transactions on the same holding without realising that there are transactions underway that will reduce that holding's units.
Available Units
Available units is an additional calculation that shows when admin users are creating a transaction that will reduce the holding balance (redemptions, transfers out).
The goal of the available unit calculation is simply to give admins a view of whether there are any pending transactions which already reduce that holding. The calculation is;
Holding - No. of units (as shown on the day the user is viewing the holding and looking to create a transaction)
Less - any Redemptions (in Requested or Completed state that have not taken effect yet), any Transfers (that have not taken effect yet)
Check the investing entity's Orders and Transactions tab to view pending orders and transactions.
How are available units used?
On creating a transfer request or a redemption request, Caruso will prevent users from creating the request if there are insufficient available units.
If this is incorrect, please review current orders and pending transactions.
Need help? Contact our support team for assistance.