Configuring Classes
Classes are the different classes of profit sharing within the same investment pool. For example, within a real estate investment pool you may have classes for customers who have deposited different amounts.
You can:
- Create new classes by selecting Create Classes.
- Edit current options by accessing the Actions button and selecting Create New Version.
- Examine existing options by choosing the Actions button and then selecting View.
- Duplicate current configurations via the Actions button, selecting Create New Class from this.
- Deactivate current options by clicking the Actions button and selecting Deactivate.
- Delete current configurations by selecting the Actions button and then choosing Delete.
Class parameters
| Parameter | Description | Required |
|---|---|---|
| Effective date | The date when the change should be implemented. | YES |
| Name | The name of the investment class. Include at least 3 or more letters or numbers, symbols cannot be used. | YES |
| Status | Whether the class is currently active or inactive. | YES |
| Description | Document additional details or context related to the class. | NO |
| Include closed accounts | Whether or not to show closed accounts in the profit sharing calculations. NOTE: default value - “No”, not editable for Early Access. | YES |
| Weighting | The weighting parameter assigns relative importance to the investment classes for purposes of calculating the proportional profit distribution. If all classes have the same weighting or no weighting is applicable for the organization, then set this to 1 for each class. | YES |
| Minimum weighting | Sets the lower limit for customising weights, ensuring a baseline significance for each factor. | NO |
| Maximum weighting | Establishes the upper limit for customising weights, preventing any single factor from disproportionately influencing profit distribution. | NO |
| Utilisation % | Indicates the percentage of resources actively engaged in investment activities. NOTE: default value - 100%, not editable for Early Access. | YES |
| Fixed rate rule | The account fixed rate rule that is used for profit sharing calculations. (Select option from drop-down: Always use fixed rate; Treat as minimum rate; Calculated rate) | YES |
| Fixed rate | The account fixed rate that is used for profit sharing calculations (Fixed percentage). | YES |
| Bank/Customer share | How the profit is shared between the Bank and the Customer. Bank share can be structured as either fixed or tiered. Able to specify a "from" and "to" amount. If the "to" amount is left empty, it indicates that it is unlimited. | YES |
| Pool | The pool that this class applies to. | YES |