The WealthNET HNI is a module of WealthNET that offers automation solution for back-office management of Portfolio Management and Advisory Services. Currently it enables the management of a portfolio that includes shares and mutual funds. The module is integrated to WealthNET-MFD for the mutual fund element of the portfolio. It takes a feed of share transactions and share prices from the distributor’s Online Share Trading System to reflect the portfolio movement in shares.
Financial Contract Information
The system allows for capture and maintenance of contract information such as the contract agreement date, Power of Attorney reference and expiry date, the category of portfolio, PMS desk manager as assigned to the customer, contracted fee structures etc.
Corpus Creation and Amendments
The system allows for initial creation of Corpus. This can be by way of Cash/Bank, Stock brought in by the customer and/or Mutual Funds earmarked by the customer. The system has features to allow additions and amendments to corpus. To facilitate cut-over periods, the system has a facility to ‘reset’ at the end of the agreement period/financial year and carry forward the closing corpus value. The corpus creation also requires the creation of a DEMAT account and a BANK account within the WealthNETHNI system.
Order Generation and reconciliation
The system is being enhanced to include a feature for the Portfolio Manager to generate “Orders” for the Distributor’s Dealing Room. The orders generation feature has capabilities to validate against customer specific “HOT LIST” and it also automatically compares the execution of “order” against transactions at end of day and lists out exceptions.
Stock Feed Interface
The feed includes stock transactions of the PMS customers and stock prices. Currently this interface has been developed for an online trading system called FT Match.
Revaluation of Corpus
The system re-values the Corpus of the HNI investor on a daily basis for stocks at last traded prices and for mutual funds at the NAVs on the date of revaluation.
Generation of Bonus/Dividend
Whilst bonus and dividend transactions of Mutual Funds are received through the Mutual Fund Feed, the system will generate these transactions for PMS customers for their stocks, as per the bonus/dividend declaration dates and ratios.
Scrip Master and Price History
The System has a feature to maintain Scrip Masters and the Price History of Scrips. The Scrip Master will hold information relating to the scrip code, description, face value and industry classification, scrip classification and exchange dealt in. Dependent on the feed details the system will maintain a detailed date wise price history including total traded quantity and values for the purposes of information and analysis.
Management fees and profit sharing
System supports set-up of three independent types of Fees Structures – Transaction based fees, Management Fees and Performance based fees. For each type of structure, the system supports different frequencies and slabs for charging of the fees.
MIS Reports, Enquiries and Report Generator
The system supports a whole range of screen based inquiry features. The User has the ability to define selective reports based on user criteria for field selection, sorting, totalling and columnar content. User also can schedule the production of these reports on defined frequencies such as, daily, monthly etc. Such reports are produced automatically in the batch end-of-day process.