Unit issuance is a flexible process that allows fund managers to allocate units to investor requests once capital has been received or confirmed.
You can issue units directly from allocation requests or via deposit reconciliation.
This process is independent of the allocation request’s status or payment progress, so fund managers can issue partial units or full units before full payment is received.
Units can be issued for any allocation request except those marked as Cancelled.
Ways to Issue Units
You can issue units from:
The Global Orders table
The Investing Entity Orders table
Within a specific Offer’s allocation requests
Option 1: Issue Units from Allocation Requests
To issue units manually from an allocation request:
In the navigation pane, click Capital Raises.
Select the relevant capital raise.
Click the ellipsis (...) next to the relevant Allocation request.
Select Issue Units.
In the Issue Units form:
Date of Issuance: According to your fund’s schedule (e.g., T+1, T+0)
Unit Class: Choose from available classes in the fund
Number of Units to Issue: Pre-filled but editable
Price per Unit: Pre-filled but editable
Investment Amount: Calculated automatically
Transaction Tags (Optional):
Related party (NCBO): for no change in beneficial owner
Related Fund: for linked fund transactions
Note: Transaction tags appear on Unit Issuance Notices and Admin reports for filtering and compliance.
Notification Preferences: Configure whether investors receive an email and/or statement notification.
Click Confirm to finalise the unit issuance.
Option 2: Issue Units via Deposit Reconciliation
You can also issue units directly when reconciling investor deposits.
To issue units from the reconciliation view:
In the navigation pan, click on Deposits.
Select the deposit to reconcile by clicking Confirm.
Complete the form:
Action: Choose either Reconcile deposit and issue units or, if unit issuance is deferred, select Reconcile deposit only
Number of units to issue: Automatically calculated using the formula:
(Bank Transaction Amount ÷ Offer Price Per Unit), rounded to the fund’s unit precision (editable).Date of issuance: Pre-filled from the bank transaction date (editable)
Notification preferences: Choose whether to send an email or publish the statement to the Investor Portal.
Click Confirm to complete
Investor Reporting
After unit issuance, Caruso automatically updates investor records and reports:
Registry Reports: Reflect all unit holdings and movements.
Capital Raising Reports:
All Allocations Report and Offer Allocations (“Book Build”) Report show:
Capital committed – the allocation request amount
Capital contributed – sum of deposits applied to the allocation request
Balance – committed amount minus contributed amount
Requested units – units requested in the allocation request
Issued units – sum of units issued to this allocation request
Notifications
Fund managers can notify investors of issued units by:
Sending a Unit Issuance Notice via email.
Saving the Unit Issuance Statement in the investing entity record.
Publishing the statement on the Investor Portal.
Example Email Notifications:
Example Email Notifications:
Example System Statement:
Example System Statement:
Unit Issuance Notice will be saved on the investing entity record
Fund managers can choose to publish the statement on the investor portal as well.
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.