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January 19, 2015

Unit Investment Funds Accounting based on 1C-Rarus:Mutual Funds, ed. 2 at the Management Company ‘Center of Investment Governance’

Quantity of automated workstations: 1
Products: 1C-Rarus:Mutual Funds, ed. 2
Branch: 1C-Rarus, Moscow
Sector: Securities, investment and management companies
Customers cities: Moscow

Management Company вy Center of Investment Governance LLC is a market member of the pooled investments on the securities market.

The accounting automation of the Management Company вy Center of Investment Governance LLC is fulfilled by means of 1C-Rarus: Mutual Funds, ed. 2 (status 1C:Compatible), which is a special solution of 1C:Enterprise 8 software family.

The reason to implement the accounting system has become a necessity to automate accounting of mutual funds activity.

The main criteria to choose this system were:

  • Meeting the requirements of the legislation;
  • The modern platform;
  • Capability to account large amounts of data;
  • Realization of main processes;
  • Friendly interface.

1C-Rarus:Mutual Funds, ed. 2 is designed to automate the financial and internal accounting at management companies UIF. The software is developed on the chart of accounts for self-financing organizations using the double-entry method. While developing the setting, FFMS requirements on transaction accounting of unit investment funds were taken into consideration.

The software allows you to account open-end and interval mutual funds.

Accounting Model

The flexible technological platform is in the base of accounting. It makes possible to realise some functional capabilities of the basic solution.

They are:

  • Transaction on several mutual funds in the unified information base;
  • Securities accounting in the context of issues;
  • Accounting of value adjusting posting for securities using FIFO and LIFO methods or average price at the moment of the transaction, accounting of writing-off shares with FIFO, LIFO methods or upon shareholder’s application;
  • Capability to post transactions by entering manual postings;
  • UIF asset accounting.

The basic solution makes possible to take into account the following assets of unit investment funds:

  • Cash on accounts and bank deposits, shares, bonds, stock units.

Automation of the main system processes is the following:

  • Recording of stock and off –stock exchange transactions manually or loading them from broker’s reports (txt, dbf or xls formats).
  • Loading of recognized quoted prices from files supplied by the main trading platforms (Moscow Central Stock Exchange, Russian Trading System).
  • Transactions on purchase, exchange or repayment of stock units with automatic calculation of bids, discounts or PIT.
  • Accrual of the fee for the management company, expenditure of specialized depositary, register, auditor and appraiser.
  • Calculations of fees and expenses related to the activity of the management company.
  • Automatic calculation of NAV taking into account the Order of FFMS dated June 15, 2005 в„–05-21/pz-n.
  • Automatic calculation of monthly data reporting taking into account the Enactment of FFMS of the Russian Federation dated November 20, 2003 в„– 03-41/ps.
  • Automatic report generation on violation of asset composition and structure taking into account the Order of FFMS of the Russian Federation dated March 30, 2005 в„– 05-8/pz-n.
  • Automatic report generation based on the Enactment of FFMS dated February 10, 2004 в„– 04-3/ps.

Analytical UIF reports

Report on applications for the day, Report on applications for the Period, Register of shareholders, Report of the Duty Manager, Balances and turnover of stock unit movement in the context of funds, Balances and turnover of stock unit movement in the context of shareholders, Report on problem applications, Other analytical reports.

1C-Rarus Experts presented all capabilities of the system, installed the software and trained the personnel to use the software efficiently.

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