Fund Principal Is Not Calculated Correctly for Unit Valued Funds
(Doc ID 2314218.1)
Last updated on MAY 25, 2020
Applies to:Oracle Insurance Policy Administration J2EE - Version 10.2.0.0 and later
Information in this document applies to any platform.
Principal value (End) = Principal value (Begin) + [ unit(End) - Unit(Begin) ] * (unit value at time of current activity)
Definition of Principal
1. The beginning principal is always the ending principal of the fund's prior valuation record or zero if it is the application of money.
2. If it is the application of money, the ending Principal is equal to the ending cash value of the deposit
3. If it is the removal of money, the ending Principal is equal to the beginning principal times the beginning units divided by the ending units
1. Funds to be considered for inclusion in updated logic are those under type codes
01 (Fixed), 02 (Variable, 03 (Fixed Benefit), 04 (Unitized Fixed), 05 (Non-Invest) and 07 (DCA).
2. Funds to be excluded from inclusion of updated logic are those under type codes
06 (MVA), 08 (Collateral), 09 (Index) and 10 (UnitLinkedVariable).
3. The FundGain and FundNetGain columns will be populated with the same values derived from the same calculation.
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