Fund managers can now set the unit price directly at a fund level removing the need to rely on fund key metrics (Adj. NAV). This change gives greater control over fund valuation and reporting of investor holdings.
Default settings
After a fund has been created, the unit price will not be set by default. Holdings can still be created or imported with units but their value will not be calculated until an effective 'unit price' has been set.
Set a unit price
Navigate to the relevant fund and click on the Unit Pricing tab.
From the right, select Update unit value
In the update unit value modal, add in the per unit value/price and an effective date and click confirm.
The unit price set is used;
To update the Fund NAV on the fund table and fund header
To update investor holding values on the admin app, investor portal and Caruso generated statements.
Previous Approach
Previously, fund managers would set fund metrics (NAV, Adj. NAV, and GAV), and Caruso would automatically calculate the unit price using the formula below:
Adj. Fund NAV ÷ Total No. Units = Unit Price
For any queries related to historical key metrics or the migration of your existing unit price please contact Caruso support via live chat.