Transaction classifications let you label a unit issuance, redemption, transfer or investment application with the reason behind it, such as a related party transfer or a bonus issuance. Most classifications are labels only. Two of them, Bonus Units and Stapling, also change how the transaction is counted in capital figures.
Where you can set a classification
The Transaction classification field is available when you:
Create or edit an investment application
Issue, redeem or transfer units
Import unit issuances in bulk (the Unit Issuance - Transaction Classification column)
The field is optional and never blocks approval. You can apply more than one classification to a transaction.
On an investment application, the selected classification is saved on the application, shown as a pill on the Confirm step and in the Approve summary, and carried onto the unit issuance when the application completes.
Classifications that only label the transaction
These classifications appear on the transaction in the Manager Console. You can filter Holding Movements and the transactions list by them, and they are included in exports. Investors do not see them.
Classification | Use it when |
Related Party (NCBO) | The transaction is between related parties with no change in beneficial ownership. |
Related Fund | The transaction is between related funds. |
Conversion | Units moved because of a conversion, such as switching from one class or structure to another. |
Transmission | Units passed on by operation of law rather than by a sale, for example to an estate or executor after a death. |
Tax Attribution | Legacy only. It cannot be selected on new transactions, but existing transactions that carry it still display it. |
Classifications investors can also see
These classifications show on the unit issuance statement, the transaction notice email and the investor’s transaction views in the Investor Portal, where investors can filter by them.
Classification | Use it when | Effect on figures |
Principal | The money represents principal, mainly for debt style funds. | None |
Accrued Interest | The money represents accrued interest, mainly for debt style funds. | None |
Bonus Units | Units are issued gratuitously, with no money paid. | Excluded from capital committed |
Stapling | Both sides of a stapling event, where units in one entity are issued alongside units in another. | Issued side excluded from Equity Raised |
How Bonus Units affects capital figures
Bonus units represent no money paid, so a transaction classified as Bonus Units is left out of:
The investor’s capital committed on their holding
The capital raise header tiles: Requested, Approved, Completed and Total Capital Committed
The matching columns on the Capital Raises lists
Everything else about the transaction is unchanged. The amount, units, class, issue date and approval flow work as normal, and payment matching is not waived or altered.
Important: Only classify genuinely gratuitous issuances as Bonus Units. A paid application classified as Bonus Units will drop out of the capital raise totals and the investor’s capital committed figure.
How Stapling affects capital figures
A stapling event is a restructure where units are cancelled in one entity and issued in another, with no cash movement and no change to the investor’s economic interest. Classify both sides of the event as Stapling.
The issued side is not counted in the fund’s Equity Raised, because no new money came in. Capital committed and capital returned are unchanged, so the investor’s returns continue to add up correctly.
Note: The transaction type itself does not change. A stapling recorded through a redemption still displays as a redemption, with the Stapling classification shown alongside it to explain the movement.
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