How Do I Manage Fund Subscriptions and Cash-Out Requests?

Equity funds have a Fund Operations page for unit values, requests to buy or sell units, and fund income payouts. Open it from the investment's Overview tab with Open Fund Operations.

Set fund terms

1. On Fund Operations, click Edit Fund Terms.
2. Set Fund Structure (Closed Ended, Open Ended, or Evergreen), Legal Structure, and Asset Strategy.
3. Enter the Minimum Subscription, optional Subscription Closing Date, Notice Before Cashing Out (Days), Subscription Lockup (Days), Cash-Out Limit (the gate per window), Cash-Out Schedule, and How Long Unit Values Stay Valid (Days).
4. Optionally tick Allow Early Withdrawals and set an Early Withdrawal Penalty.

Handle a request

1. Click Request Subscription or Request to Cash Out, or wait for an investor to request one.
2. Requests show in Buy and Sell Units as Requested.
3. A Finance Approver clicks Approve and picks an Approved Unit Value. See Set a Unit Value.
4. Once the money moves, an approver clicks Record Settlement, enters the Settlement Date and Bank / Transfer Reference, and ticks I Have Verified That the Funds Have Settled.

Good to know

• Closed-ended funds do not accept cash-out requests.
• Each purchase has its own lockup. Hold and Cash-Out Dates shows when each lot unlocks and the Next Cash-Out Date Without a Fee.
• Early withdrawal penalties apply only to locked units and stay in the fund.
• Unit counts and cash change only when settlement is recorded. Recording settlement does not start a bank transfer.
• Cancel is available on requested trades, and on approved trades for approvers.
• Prepare Payout under Fund Income Payouts splits income by units held in a class. See Run a Distribution.

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