Investments, Regular Premium Contract with Funds

 

Start the policy as described in “Investments, Starting Policies, Contracts and Accounts”

 

At the bottom of the first screen, as shown below, after entering the “Policy start” and “Until” details…

  • Enter the initial premium (e.g. £250) and use the “…per” drop-down to select the period (e.g. “Month”)
  • Set the “Investment” drop-down to anything other than “None” (e.g. “Unit Linked”)
  • Click the black “Curve-right Arrow” key or press the “PgDn” key to move onto the next “Transactions” screen

 

 

 

On the “Transactions” or “Funds” screen, as shown below…

  • Click the “Add” button in the middle of the screen

 

 

On the “Add Fund for…” pop-up, shown below…

  • Click the “>” button to the right of the “Fund code”

 

 

 

You should come to a “Locate Fund” dialogue (see below)

  • Use the “Type” drop-down to select the fund type (e.g. Insurance fund for a Bond)
  • In the “Fund name” enter the beginning of the fund’s name (e.g. “NU”) then click the “Binoculars” button
  • If you don’t find the fund you want, click the “Next” and “Previous” buttons till you do
  • Click “OK”

 

 

You’ll return to the “Add Fund for…” pop-up, shown below, where you should complete the “Original” column as follows…

  • Click the “=” button next to the “Date” to get the date of the first regular premium
  • In the “Monthly sum” field enter the amount of the regular premium to be invested in this fund (e.g. half of the £250 premium, so £125 – and note that the field might be called “Quarterly sum”, etc)
  • Click the “=” button next to “Sum to date” to see the total allocated to this fund to date

 

Now in the “Current” column…

  • Enter the current “Date”
  • Enter the “Unit price” at that date
  • Enter the “Units” allocated at that date
  • Click the “=” button next to the “Value £” and the system will calculate the value at that date
  • Ignore the “Split %” figure. It will correct itself as the funds are added
  • Click “OK”

 

 

Once you’ve completed the first fund selection you’ll be returned to the “Edit Event” pop-up (n.b. the “Event” in this case is an “Initial purchase” via a regular monthly premium of £250 split equally between two funds). If the investment has multiple funds click the “Add” button and repeat the above process for each one, as shown below…

 

 

Click “OK” when done and you’ll be returned to the “Transactions” screen, shown below…

 

 

Finding The Correct Fund Name

One of the biggest problems with this process is knowing the fund name, which only comes with experience. For example a “Clerical Medical” fund might be called exactly that, or perhaps “Cler Med” or “Fidelity Cler Med”, etc. Sometimes an insurer might use a totally different fund manager, like the “Edinburgh Fund Managers”. If in doubt refer to the financial adviser who sold the product or the provider of your data-feed for investment fund prices (e.g. Financial Express).

 

Initial Accumulations (or Extra Units)

Sometimes an investment is allocated extra units (e.g. to represent 105% or 110% of the initial premium). Do not enter these in the “Original” column. Instead you should enter these in the “Current” column.

 

See also “Life, Commission”, “Set-up, Policy Notes” and “Life, Compliance”.