Fees and Billing
Convenient billing options are available for accrual and billing of management fees including performance based fees.
Multiple bill groups or billing schemes can be created and account can be assigned to a bill group.
Billing system provides for fixed charge, minimum charge, layered % rates based on asset value, performance based fees, tranasaction based fees, fees on capital deposits (entry load) and fees on withdrawal (exit load). Different % rates with layered slabs can be defined. Portfolio valuation basis include - Average market value (Daily, Weekly, Fortnightly, Monthly, Quarterly, Semiannual, Annual), period beginning or ending market value or weighted average capital base.
Performance based fees can be subject to hurdle rate (profit above defined %) and water marking and billed on a pre defined fixed date or anniversary date. Benchmark linked performance fees are also available.
Billing system also provides for service tax and TDS calculations.
Management fees can be accrued on daily basis and each bill group can have different periodicity for billing. Reports for accrued management fees and accrued incentive for intermediaries are available. The system provides for debiting of bills to accounts or external payment and tracking of outstanding fees. Billing summary and analysis are available for management use.