Investment Events –
Understanding Event Types and Actions
Event
Types
Every
contract will…
- Start with a purchase –
“Acquisition of contract or fund”
- End with a sale – “Closure of
contract or fund”
- In between there may be accumulations,
dividends, etc – “Transaction between acquisition and closure”, as shown
below
Actions
Different
event “Actions” (e.g. “Accumulation”, “Dividend”, etc) are available for each
of these three “Event types”, for example to prevent you from adding an
accumulation before the initial purchase. They are also split into these three
main types because in real life you get confusing events, like purchase top-ups
which occur after the initial one, as shown above, or partial sales before the
final one, in which cases the “Event type” selection enables Durell to process
the event “Action” correctly.
Description
A text
description is provided below the “Action” drop-down to explain its purpose, as
shown above.
Available
Event Types and Actions
The
“Acquisition” and “Closure” event types, shown below, are mirror images of each
other, where funds can either be bought or sold, or switched-in or out from
other funds or contracts. In all cases these actions either initiate a fund, or fully close it.
- Acquisition of contract or fund…
- Purchase, initial
- Switch-in, between funds
- Switch-in, from other contract
- Closure of contract or fund…
- Transfer-out, between funds
- Transfer-out, between
contracts
In contrast
the intermediate transactions, shown
below, never fully start or close a fund.
So for example….
a)
“Income
taken” and “
b)
“Switches-in”
have to be additions to existing
funds
c)
“Transfers-out”
cannot fully deplete the funds in question
- Transaction between acquisition
and closure…
- Accumulation
- Admin charge
- Dividend taken
- Income taken
- Purchase, top-up
- Switch-in, to existing fund
from other contract
- Switch-in, to existing fund
from this contract
- Transfer-out, between funds
(partial)
- Transfer-out, to other
contracts (partial)
- Vary regular premium