---
title: "Setting up a fund: A checklist"
slug: "setting-up-a-fund-a-checklist"
updated: 2026-02-10T10:37:06Z
published: 2026-02-10T10:37:06Z
canonical: "support.lusid.com/setting-up-a-fund-a-checklist"
---

> ## 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.

# Setting up a fund: A checklist

A fund marshals a set of components that together enable LUSID to strike a NAV and generate other financial reports.

**Recommended tutorial**: [Preparing a fund for launch](/v1/docs/preparing-a-fund-for-launch)

The components that comprise a fund are currently as follows:

![](https://cdn.document360.io/d575ad81-c0ed-4980-bbd1-d59ac5c3de82/Images/Documentation/FundV2 (2).png)

#### Step 1: Set up an IBOR

You must [set up an IBOR](/v1/docs/getting-started-setting-up-and-valuing-a-simple-ibor) as a prerequisite of a fund; that is, master instruments in LUSID, establish positions in one or more transaction portfolios, create recipes, and load market data suitable for valuing all the instruments held in those portfolios.

#### Step 2: Create a chart of accounts

At a minimum, a [chart of accounts](/v1/docs/how-do-i-create-a-chart-of-accounts) (CoA) must have appropriate general ledger accounts and at least one posting module containing rules for posting journal entry lines to those accounts. You can optionally add one or more year-end cleardown modules and general ledger profiles.

#### Step 3: Create a pricing template

You must [create a pricing template](/v1/docs/how-do-i-create-a-fund-configuration-module) specifying fund unitisation rules by identifying general ledger accounts in the underlying CoA that store dealing (subscription and redemption) and P&L activity. This is so LUSID can calculate fund GAV as dealing plus P&L.

#### Step 4: Optionally, create share classes to add to the fund

You can either unitise the fund or create any number of share classes. Note each share class must be [pre-mastered as an instrument](/v1/docs/how-do-i-create-a-fund-share-class-as-an-instrument).

#### Step 5: Create the fund itself

When you [create a fund](/v1/docs/how-do-i-create-a-fund) you must reference a pricing template and the underlying IBOR, and specify at least one NAV type (for example, ‘daily’) that itself references a CoA, recipes, and settings such as the accounting and amortisation methods to use for a particular audience. You can specify additional NAV types (for example, ‘tax’) with different settings to strike a NAV for different audiences from the same underlying data if you wish.

#### Step 6: Optionally, add fees to the fund

LUSID calculates fund NAV as GAV minus fees. You can [add as many fixed or variable fees](/v1/docs/adding-fees-to-a-fund-and-automatically-posting-fee-transactions) as you like to a fund, with different calculation bases.

#### Step 7: Create one or more valuation points

You should set up a fund calendar consisting of one valuation point per NAV type and reporting date, for example daily at 5pm for the ‘daily’ NAV type. While you *can* supply an ad-hoc date when striking a NAV, using a valuation point triggers LUSID to generate fund fees and to persist data so reports can always be recreated.

#### Step 8: Strike a NAV and generate other financial reports

You can [strike a NAV](/v1/docs/striking-a-nav) and [generate other financial reports](/v1/docs/generating-fund-reports) using a combination of a valuation point and a NAV type.