A fund marshalls a set of components that together enable LUSID to generate financial reports.
Recommended reading: Preparing a fund for launch
The components that comprise a fund are currently as follows:
Step 1: Set up an ABOR
You must set up a complete ABOR as a prerequisite for a fund. Note a fund and its ABOR have a unique relationship; no other fund can reference the same ABOR.
Step 2: Create a fund configuration module
You must create a fund configuration module specifying fund unitisation rules by identifying general ledger accounts in the underlying ABOR responsible for recording activity such as dealing and P&L.
Step 3: Optionally, create share class instruments to add to the fund
If you want to ringfence investors in the fund you must pre-master share classes as instruments in the LUSID Security Master.
Step 4: Create the fund itself
When you create a fund you must reference an ABOR, a fund configuration module, and any share class instruments.
Step 5: Optionally, add fees to the fund
LUSID calculates fund NAV as GAV minus fees. You can add as many fixed or variable fees as you like to a fund, with different calculation bases.
Step 6: Generate a GAV and NAV for the fund
You can generate an ad-hoc fund valuation at any time but note publishing an official fund valuation is a process with checks and balances.