Caruso gives fund managers the ability to manage investor liquidity through the redemptions module.
Create
There are multiple ways to create a redemption request.
In the Fund > Holdings or Investing Entity > Holdings tab, simply select the holding you want to update.
Alternatively, navigate to the relevant Fund and see the Redemption tab, select the Create redemption request button to search for any investing entity.
Complete the unit redemption form with the following details:
Date of Redemption: Enter according to your fund's processing schedule (e.g., T+1, T+0)
No. Units to redeem: Pre-populated with the requested no. of units (can be updated)
Price per unit: Pre-populated with offer price (can be updated)
Order Value: 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;
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.
Once the redemption has been confirmed, it will then be available under the Redemption tab. It will also create a task to notify the relevant team members to confirm the redemption request.
Edit
Redemption requests can be edited while they are in a "Requested" status.
Confirm
Redemption requests created on the admin app and the investor portal need to be confirmed.
You can do this from the:
Investing Entity > Orders tab
Global Orders table (filtered on Redemptions)
Fund > Redemptions tab
Paying redemptions
You can generate a redemption payment file from the admin app reports section.
Note: This excludes any redemptions with transaction tags as these are related party or related funds where no cash needs to be paid out.
Pro tip
To enable redemption requests from the Investor Portal, simply update the Fund > Settings. For more guidance refer to this help article on how investors can redeem units.