--- title: "How do I create a fund?" slug: "how-do-i-create-a-fund" updated: 2026-05-19T08:40:26Z published: 2026-05-19T08:40:26Z canonical: "support.lusid.com/how-do-i-create-a-fund" --- > ## Documentation Index > Fetch the complete documentation index at: https://support.lusid.com/llms.txt > Use this file to discover all available pages before exploring further. # How do I create a fund? You can create a fund that marshalls all the components necessary to strike a NAV and generate other financial reports for different audiences at regular intervals. ## Methods LUSID web appLUSID APILuminesce Call the [CreateFund](https://www.lusid.com/docs/api/lusid/endpoints/funds/CreateFundV2) API, for example: ```json curl -X POST 'https://.lusid.com/api/api/funds/v2/FundV2'  -H 'Content-Type: application/json-patch+json'  -H 'Authorization: Bearer '  -d '{  "code": "FundCode",  "displayName": "Fund Name",  "description": "Standard Fund",  "baseCurrency": "USD",  "portfolioIds": [    {      "scope": "Scope1",      "code": "Portfolio1",      "portfolioEntityType": "SinglePortfolio"    }  ],  "fundConfigurationId": {    "scope": "FundConfigurationScope",    "code": "FundConfigurationCode"  },  "shareClassInstrumentScopes": [    "Scope1"  ],  "shareClassInstruments": [    {      "instrumentIdentifiers": {        "Instrument/default/Figi": "GB0007980598"      }    },    {      "instrumentIdentifiers": {        "Instrument/default/ClientInternal": "ShareClassA"      }    }  ],  "type": "Master",  "inceptionDate": "2024-01-01T00:00:00.0000000+00:00",  "decimalPlaces": 6,  "primaryNavType": {    "code": "PrimaryNav1",    "displayName": "PrimaryNav1",    "description": "This is the primary NAV type",    "chartOfAccountsId": {      "scope": "ChartOfAccountsScope",      "code": "ChartOfAccountsCode"    },    "postingModuleCodes": [      "PostingModule1"    ],    "cleardownModuleCodes": [      "CleardownModule1"    ],    "valuationRecipeId": {      "scope": "RecipeScope",      "code": "RecipeCode"    },    "holdingRecipeId": {      "scope": "RecipeScope",      "code": "RecipeCode"    },    "accountingMethod": "FirstInFirstOut",    "subHoldingKeys": [],    "amortisationMethod": "EffectiveYield",    "transactionTypeScope": "TransactionTypeScope",    "cashGainLossCalculationDate": "Default"  },  "additionalNavTypes": [    {      "code": "taxNav",      "displayName": "Tax Nav",      "description": "Tax Nav description",      "chartOfAccountsId": {        "scope": "TaxChartOfAccountsScope",        "code": "TaxChartOfAccountsCode"      },      "postingModuleCodes": [        "TaxPostingModule1"      ],      "cleardownModuleCodes": [        "TaxCleardownModule1"      ],      "valuationRecipeId": {        "scope": "TaxRecipeScope",        "code": "TaxRecipeCode2"      },      "holdingRecipeId": {        "scope": "TaxRecipeScope",        "code": "TaxRecipeCode3"      },      "accountingMethod": "FirstInFirstOut",      "subHoldingKeys": [],      "amortisationMethod": "EffectiveYield",      "transactionTypeScope": "TransactionTypeScope",      "cashGainLossCalculationDate": "Default"    }  ],  "properties": {    "Fund/MyScope/FundManagerName": {      "key": "Fund/MyScope/FundManagerName",      "value": {        "labelValue": "Smith"      },      "effectiveFrom": "2024-01-01T00:00:00.0000000+00:00"    }  } }' ``` Navigate to **Fund Accounting > Funds** and click **Create fund**: ![](https://cdn.document360.io/d575ad81-c0ed-4980-bbd1-d59ac5c3de82/Images/Documentation/image(982).png) Write a Luminesce SQL query using the [Lusid.Fund.Writer](/v1/docs/lusidfundwriter) provider and execute it using a tool such as the LUSID web app, for example: ![](https://cdn.document360.io/d575ad81-c0ed-4980-bbd1-d59ac5c3de82/Images/Documentation/image(969).png) ## Data fields and properties This section supplements the [API documentation](https://www.lusid.com/docs/api/lusid/endpoints/funds/CreateFundV2) and on-screen help text in the LUSID web app. ### Fields A fund is identified by a `scope` and a `code` that must be unique within that scope. A fund must: - Have a `type`. You should set this to `Standalone` for now. Other options are under development. - Reference one or more [transaction portfolios](/v1/docs/what-is-a-transaction-portfolio) from an IBOR. - Have a `baseCurrency` that is an ISO 4217 currency code, for example `GBP`. Note all referenced transaction portfolios must have the same base currency. - Have an `inceptionDate`. Note this must be prior to the creation date of all referenced transaction portfolios. - Reference a [pricing template](/v1/docs/how-do-i-create-a-fund-configuration-module). - Have an `investorStructure`. The default is `Classes`. You can set this to `Unitised` if you want. If you opt for `Classes`, you must reference: - At least one [share class mastered as an instrument](/v1/docs/how-do-i-create-a-fund-share-class-as-an-instrument). Note you can add or remove share class instruments independently using the [SetShareClassInstruments](https://www.lusid.com/docs/api#operation/SetShareClassInstruments) API. There is no significance to the order in which these are added. - A `shareClassInstrumentScopes` if these share classes are mastered in an [instrument scope](/v1/docs/understanding-instrument-scopes) other than the `default` scope. - A `primaryNavType` that contains all the settings necessary to strike a NAV and generate other financial reports for a particular audience. [More information](/v1/docs/how-do-i-create-a-fund#understanding-nav-types). - Optionally, any number of `additionalNavTypes` to strike NAVs for different audiences using the same underlying data. ### Properties You can optionally extend the data model of a fund by adding [custom properties](/v1/docs/properties) from the `Fund` domain, either when you create it or subsequently using the [UpsertFundProperties](https://www.lusid.com/docs/api/lusid/endpoints/funds/UpsertFundProperties) API. ## Subsequent updates You can change most aspects of an existing fund using the [PatchFund](https://www.lusid.com/docs/api/lusid/endpoints/funds/PatchFund) API. ## Understanding NAV types A fund must have at least one primary NAV, containing all the settings required to strike a NAV and generate other financial reports for a particular audience, and can have as many additional NAVs as you need. For example, you might specify: - A primary `OFFICIAL` NAV to process subscriptions and redemptions to run each weekday at EOD. - An additional `TAX` NAV that uses a different tax lot methodology and market data to run at end of year. - An additional `REPORT` NAV that uses a different chart of accounts to run monthly or quarterly to satisfy regulatory requirements. When used in combination with a valuation point, LUSID closes an accounting period for a NAV and persists the underlying data so reports are always reproducible. The following settings can be configured independently for each NAV: | Setting | Information | | --- | --- | | Chart of accounts (CoA) | Identifies the [chart of accounts](/v1/docs/how-do-i-create-a-chart-of-accounts) (CoA) to use. | | Posting modules | You must reference at least one [posting module](/v1/docs/how-do-i-add-a-posting-module-with-posting-rules-to-a-chart-of-accounts) from the above CoA. If you reference more than one, the order is significant; for each journal entry line, LUSID uses the first matching rule found. | | Cleardown modules | If the CoA contains [cleardown module(s)](/v1/docs/how-do-i-add-a-cleardown-module-with-cleardown-rules-to-a-chart-of-accounts), you must reference at least one. If you reference more than one, the order is significant; for each journal entry line, LUSID uses the first matching rule found. | | Valuation recipe | This [recipe](/v1/docs/what-is-a-recipe) must contain the following: - [Market data rules](/v1/docs/recipes-locating-market-data) able to locate market data loaded into LUSID suitable for valuing every holding in every underlying transaction portfolio on the effective date of the valuation point. - [Pricing model rules](/v1/docs/recipes-changing-the-default-pricing-models-for-instrument-types) suitable for the instruments held in every underlying transaction portfolio. If only instruments of type `Equity` are held, there is nothing to do here. However, for most other instruments we strongly recommend changing the default pricing model. | | Holding recipe | If any underlying transaction portfolio contains an instrument for which LUSID requires market data in order to generate holdings (such as floating-rate or inflation-linked bonds), this recipe must contain market data rules able to locate that data. | | Accounting method | You must specify a [tax lot liquidation strategy](/v1/docs/what-are-the-supported-tax-lot-accounting-methods-in-lusid). Note there is an option to choose the `AverageCost` method, which effectively means ‘no strategy’. | | Amortisation method | You must specify an [amortisation strategy](/v1/docs/how-does-lusid-calculate-amortisation-and-accretion) for all instruments of type `Bond`, `ComplexBond` and `InflationLinkedBond` held in underlying transaction portfolios. Note there is an option to choose ‘no strategy’. | | Cash gain/loss calculation date | You must specify a [cost normalisation strategy](/v1/docs/realising-gainloss-for-cash-holdings-on-trade-date-rather-than-settlement-date) that nominates either settlement date or transaction date. | | Transaction type scope | You have the option to specify a custom scope containing [transaction types](/v1/docs/what-is-a-transaction-type) defining the economic impact of transactions in underlying portfolios. If you omit this, LUSID expects to find all transaction types in use residing in the `default` scope. **Note**: If you specify a custom scope you must recreate **every transaction type and side** in that scope. LUSID does not fall back from a custom to the `default` scope. | | Sub-holding keys | If your fund has share classes, you must (for now) specify the `Transaction/default/ShareClassShortCode` system property as a [sub-holding key](/v1/docs/what-is-a-sub-holding-key-shk) (SHK) for each NAV. You can optionally specify as many other SHKs from underlying transaction portfolio(s) as you wish. These SHKs are then available for grouping purposes when you generate a fund holdings report. If you do not specify any SHKs (either omit the field or set it to an empty array) then no SHKs are available; they are not inherited from underlying portfolios. | | Leader/follower status | By default, each NAV operates on its own timeline, and you can close a period for one NAV while keeping the others open. You can choose to align the timelines of additional NAVs with a particular NAV if you wish, though note if you close the period of the leader the periods of followers automatically close. To do this, specify the `leaderNavTypeCode` of a NAV to follow. Additional NAVs can follow the primary NAV or they can follow another additional NAV, for example: ![](https://cdn.document360.io/d575ad81-c0ed-4980-bbd1-d59ac5c3de82/Images/Documentation/LeaderFollower (1).png) Note that chaining and circular dependencies are not allowed. |