Investments, Contract Summary Fields

Summary Fields without Funds or Events

You do not need to enter details of a contract’s funds or events (i.e. individual transactions for dividends, income, etc), as discussed in “Investments, Level of Detail”. So you may choose just to enter the overall original and current values in the “Contract Summary” fields, as shown below, in which case the growth figures will be recalculated when you click the “Recalculate totals” button.

The “Contract Summary” fields are used for the following…

• “Investment” is the original purchase sum, as entered on the previous screen, regardless of subsequent fund-switches and transfers
• “Investment on date” is the “Policy start” date, as entered on the previous screen, regardless of subsequent fund-switches and transfers (n.b. to allow the calculation of overall growth)
• “Total dividends, income & sales” is the amount taken by the client separately from the current value
• “Uninvested in other / this contract” cannot be entered manually (so ignore these two fields)
• “Current valuation” and its “on date” will be the most recent of all the fund valuations. In many instances there will only be one fund anyway, and hopefully where there are multiple funds they will have equally recent fund prices stored on the system
• “Growth including for dividends” is the simple overall percentage growth
• “Compound growth” is the average growth per year, per year.

Summary Fields with Funds but without Events

Alternatively, you may choose to enter funds, but not bother with detailed events for individual accumulations, dividends, etc. Note that all contracts with funds are bound to have an initial purchase event, and could have switches and transfers, but don’t need any more detail than this. In this case the system will re-populate all of the “Contract Summary” fields when you click the “Recalculate totals” button, based on the funds’ “Current” values. So before you click the “Recalculate totals” button you should…

• Highlight the first fund and click the “Edit” button
• On the “Edit fund for…” pop-up, shown below, you should enter the current date, price, units and total amount taken in dividends, income, sales, etc.
• Click “OK”
• Highlight the next fund and repeat the above sequence

Then click the “Recalculate totals” button, whereupon you’ll be asked to confirm the current unit holdings, as shown below, after which the system will recalculate all of the summary fields.

Summary Fields with Funds and Events

As soon as you enter one event involving dividends or other transaction types where the client has taken value from the contract, then the system will automatically calculate the “Total dividends, income & sales” on the “Edit Fund for…” pop-up, shown two above, which you will not be able to override (i.e. once you decide to enter events regarding dividends, etc, you will need to enter all of them). Other than this, the “Recalculate totals” button works exactly the same for contracts with or without events.

To check your events you should click the “Show events” option, on the lower-middle right of the screen shown above, then highlight the fund in question and click the “Edit” button, as shown below…