Contents x
    What do I do if a fund has been removed from a Pool but its Units remain?
    • 20 Apr 2023
    • Contributors
    • Print
    • Dark
      Light
    • PDF
    Contents

    What do I do if a fund has been removed from a Pool but its Units remain?

    • Updated on 20 Apr 2023
    • Contributors
    • Print
    • Dark
      Light
    • PDF
    Article summary

    When a fund is a removed from a FACTS pool, it is possible for partial units to remain.  

    Answer:
    If you have successfully removed a Fund from a Pool and there is now a zero market balance but there are still fractions of units remaining, you will need to run a tool to remove the remaining units.  If the units are .01 or smaller, then you can run this tool.  If the remaining units are 1.000 or more, you should not run the tool and should investigate further.  

    The tool can be found at Tools\System Utilities\Admin Utilities\Finance Utilities\Update FACTS Pool Price or Units.  

    After selecting the pool, the information will fill out in a similar fashion: 

    If you are intending only to tweak the closing funds, don't change any of the information that flows into the fields and click OK

    A report similar to this one appears: 


    If the differences are tiny as the ones in the example, click Apply in the menu and the new units will be assigned to the funds. If you are closing funds out of the pool. The New unit values should be 0.


    More Information:  
    Units: The number of units a fund has is based on the dollar value they have in the pool. If a fund adds $1,000 to their pool balance, and unit values are $100, the fund will get 10 more units. Every unit any fund owns in the pool has the same value, but funds own different numbers of units. The number of units a fund owns can only change through deposits or withdrawals from the pool for that fund. The unit value only increases through gains or losses (real or unrealized gains/losses, interest & dividends).  Thus comparing the unit value from start to present can be used as a guide to see the increase (or decrease) of value in the whole pool through gains.  

     



    Was this article helpful?
    What's Next