Investor payment runs

Investor payment runs

Investor payment runs can be generated in two ways:
  1. automatically by the platform
  2. manually by a user within Fusion

Investor payment runs generated automatically

A service exists that will automatically generate investor payments into a payment run based on the investors automated repayment frequency. This service will run at the following    times:

  • Every Monday morning to process payments for investors that have an automated payment frequency of ‘Weekly’.
  • On the 1st of every month to process payments for investors that have an automated payment frequency of ‘Monthly.
  • On the 1st day of every quarter to process payments for investors that have an automated payment frequency of ‘Quarterly.
  • On the 1st of January to process payments for investors that have an automated payment frequency of ‘Annually.
  • On the 1st of July and 1st January to process payments for investors that have an automated payment frequency of ‘Semi Annually.
  • Every Monday morning to process payments for investors that have an automated payment frequency of ‘Fortnightly


Investor payment runs generated manually by a  user in Fusion

Payment runs can also be created manually.  See this article for details on how to do. This can be done in emergencies when an investor is wanting payment prior to an automated    payment run being generated. When a payment run is created, either automatically or manually, the status of the run is "Pending".

Investor payment runs can only be processed from within the fund control.

All payments that a payment run has generated to be paid to investors, will be available for review and altered before they are processed. 

No payment can appear in more than one payment run that is unprocessed for the same investor and asset class, i.e. if a payment exists that is unprocessed, and another payment run occurs, investors that have unprocessed payments for an asset class will not have payments generated for that asset class in the new payment run. In this case the investor will appear in the payment run but the values will all be zero and a message will detail that the reason for not paying is due to a pending outstanding payment so the finance company can easily see why the values are zero. This applies to both automated and manual payment runs.  An unprocessed payment run is a payment run that is "Pending" i.e. it has not been "Paid" or "Cancelled".

An investor payment run will pay investors up to a maximum of their escrow balance. The escrow balance being, the interest and capital on cleared payment received transactions that have not previously been paid to the investor based on their reinvestment options. The cleared transactions being:
  1. payments received that have cleared i.e. “transfer credits”
  2. “early settlement recoveries” (these are always capital transactions)
  3.  “transfer debit retentions"

It is VERY IMPORTANT that investors are paid through the payment run process. If a payment run is generated and the investors paid via EFT or any other method through the bank and not through the processing of the payment run, the EFT payment will be treated as a withdrawal and the payment run will still remain unprocessed which will affect any future payments.

The amounts to pay will be loaded into a payment run and displayed on the “Investor payments” page for a user to review and confirm before the direct credit file to be sent to the bank is generated.  This amount could include “overs and unders” from previous dates. The overs and unders are transactions that have been backdated for whatever reason and therefore have not been allocated to previous investor payment runs.  

The amounts calculated will be: 
  1. Net of tax i.e. less tax
  2. Net of RM fees or management fees.
  3. Be calculated as a sum of the following,  based on the reinvestment option of the investors:
    1. For each asset class,
      1. No reinvestment - All interest and capital received from cleared payments on investments
      2. Principal Only - All interest received from cleared payments on investments 
      3.  Principal and Interest -  No payment made
    2. For the Fund account
      1.  No reinvestment - All interest received  i.e. bank interest  (interest in fund account as well as interest earned on uncleared funds that have been transferred from the asset class to the fund account)
      2. Principal Only - All interest received i.e. bank interest  (interest in fund account as well as interest earned on uncleared funds that have been transferred from the asset class to the fund account)
      3. Principal and Interest - No payment made


1. To view the investor payment runs, log in to Clearmatch Fusion, select "fund control" and navigate to > Home Pages > Investing > Investor Payments  


 

2. Select the investor payment run that you would like to view from the list.



3. The payment run details will be displayed showing  a breakdown of payment for each investor.



The following details will be displayed per investor
  1. Calculated Amount - the value that the platform has calculated should be paid to the investor
  2. To Pay - the amount that will be paid.
  3. Paid Amount - The amount that was paid

4. Selecting an item in the list will open a page that will show the individual transactions that make up the calculated amount.




From within the payment run there will be options to do the following from the hamburger menu
  1. Adjust a payment amount. See here for details.
  2. Process a payment run. See here for details. 
  3. Cancel a payment run. See here for details.

    • Related Articles

    • Cancel an investor payment run

      When an investor payment run is cancelled, the details are updated so that the transactions that generated the payments are handled correctly as 'overs and unders' so that they can be accounted for in the next payment run. The 'overs and unders" are ...

    • Adjust an investor payment run

      There may be instances where a finance company would like to adjust the amount paid to the investors and not pay the full amount as has been calculated by the automated payment run. Payment runs can only be adjusted is they have not already been ...

    • Manually create an investor payment run

      There may be instances where an investor would like to be paid and is not willing to wait for the automated payment run to take place as per the next schedule. It these cases an investor payment run can be manually created. You will not be allowed to ...

    • Process an investor payment run - pay the investors

      When a payment run has been created either automatically or manually the status of the run will be "Pending", indicating that it is available for review. Once reviewed the payment run will need to be generated in order to make the payment to the ...

    • Fees payable payment run

      Fees payable are fees that are paid by the finance company to 3rd parties example custodians and trustees. It is VERY IMPORTANT that parties are paid through the payment runs. Fees payable can be generated in two ways: Automatically by a service ...