IFM Cash Net Settlements

The ALP Cash Net Settlement is a process that allows ACPI to move cash in and out of IFM Pooled Funds as required by FundServ based on the client transactions of the IFM Pooled Funds settling. FundServ’s transaction settlement service is called Net Settlement Messaging (N$M). N$M is a clearing system thus an IFM Pooled Fund will either be in a Net Payable or Net Receivable position.

ACPI processes the ALP Cash Net Settlement by working with SGGG and CIIS. From a Portfolio Manager perspective any ALP Cash Net Settlements will appear in the transactions of your IFM Pooled Fund with the below descriptions.

NDEX Descriptions

1. SGGG Aligned SETT (Date) CNS

        I. Standard Money Movement

2. SGGG Aligned Distribution SETT (Date) DIVC

        II. Client Cash Distributions

3. SGGG Aligned SETT (Date) DIL

        III. Dilution Charges 

4. SGGG Aligned SETT (Date) ERF

        IV. Early Redemption Fees

5. SGGG Aligned SETT (Date) SWI

        V. Client Switches Between Two IFM Pooled Funds

NOTES: 

• The IFM have processes in place to check if an IFM Pooled Fund has enough cash in the event of a Fund being in a Net Payable Position. In this event a member of an IFM Team will contact you to inform you of the upcoming Payable in the Fund if the required amount of cash is unavailable in the account
• For more detailed information or questions, please reach out to the IFM Team