Overview
Unit issuance is a flexible process that allows fund managers to issue units to allocation requests. This guide explains how the unit issuance process works and how to use this feature effectively.
Fund managers can determine how and when they issue units. Unit issuance is a concept distinct from the allocation request's status and payment. This allows for flexible operating practices such as issuing partial units before full payment. Units can be issued to allocation requests in any status except "Cancelled"
Issuing Units:
Workflow 1: From Allocation Requests
You can issue units directly from allocation requests in several places to suit your workflow:
The Global Orders table
The Investing Entity Orders table
When viewing an Offer's allocation requests
Steps to issue units from allocation requests:
Find the allocation request you wish to process
Select the "Issue Units" action
Complete the unit issuance form with the following details:
Date of Issuance: Enter according to your fund's processing schedule (e.g., T+1, T+0)
Unit Class: Select from available unit classes in the offer's fund
No. Units to Issue: Pre-populated with the requested no. of units (can be updated)
Price per unit: Pre-populated with offer price (can be updated)
Investment Amount: Automatically calculated (No. Units × Price Per Unit)
Notification Preferences: Configure email and statement notifications
Transaction Tags (Optional): Tag the transaction for reporting and compliance purposes.
Tags
Related party (NCBO) - This tag can be applied when there is no change in beneficial owner
Related Fund
Tags will be visible on;
Unit Issuance Notice
Admin App Reports that surface transactions; All Holding Movement Reports and Fund Holding Movement Reports. This allows you to view and include or exclude tagged transactions.
Workflow 2: Deposit Reconciliation
Combine deposit reconciliation and unit issuance into one seamless workflow:
Navigate to the Reconcile section
Select the deposit to reconcile
Complete the form with similar details as Workflow 1, with these differences:
Date of Issuance: Pre-populated with the bank transaction date (can be updated)
No. Units to Issue: Pre-populated to calculate (
Bank Transaction Amount ÷ Offer Price Per Unit), rounded to Fund's Unit Precision (can be updated)
If you are only reconciling the deposit and unit issuance will occur at a later stage, simply select "Reconcile deposit only".
Investor Reporting
Once units have been issued, you can reference the following information:
Allocation Request Details
Requested No. of Units: The original number of units requested
Issued No. of Units: The sum of all units issued
Investing Entity Details
Both you and your investors can view:
Holdings: New holdings or increases in existing holdings
Transactions: "New Issuance" transactions with the Date of Issuance
Reporting
Registry Reports: All holding and holding movement details will reflect the unit issuance
Capital Raising Reports: The All Allocations Report and Offer Allocations ("Book Build") Report will display:
Capital Committed: The allocation request amount
Capital Contributed: Sum of deposits applied to this allocation request
Balance: Capital Committed minus Capital Contributed
Requested No. of Units: Units requested in the allocation request
Issued No. of Units: Sum of units issued to this allocation request
Notifications
When units are issued, fund managers can choose to notify investors with an email and or statement.
Email Notifications: Unit Issuance Notice
System Statement: Unit Issuance Notice saved on the investing entity record
If the statement is not published to the investor portal, it will still be available on the admin application for that investing entity.
Need Help?
If you have questions about issuing units or encounter any issues, contact our support team for assistance.