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Fee Schedule

Canopy
Last Updated: 1 year ago

Overview

Steps to generate the Fee Report

How to fill in the Fee Schedule Template 

Additional information

Overview

The Fee Report feature allows partners to calculate AUM based fees and/or retrocession fees based on their Canopy data

  • AUM based fee 

    • Calculates fee charged as a percentage of assets under management. This can be set at the child account

  • Retrocession fee 

    • This is a revenue share on any brokerage paid to the executing bank. 

    • Calculate fee charged per transaction basis and can be set at the child account and user asset class combinations

Steps to generate the Fee Report

  • Upload data using the Fee Schedule template

    • Download the Fee Schedule excel template 

      • Download from Upload Documents > Data Management > Fee Schedule > Download Latest Template

    • Fill in the fee schedule template

      • For steps and rules please refer to the next section

    • Upload the fee schedule template on the UI

      • Details

        • File description can be added and also the files can be tagged with a custom tag

    • Validate

      • The template will be validated for multiple checks for required tabs and fields

    • Upload

      • The template can be uploaded for processing after it is validated successfully

      • The uploaded template can be retrieved from Reports > Documents using the filter where document type = Fee Schedule 

  • View Report Summary

    • Partners can view the summary fee report at Reports> Fee Report

      • The summary can be downloaded using the Download icon at the top of the tab

  • Generate Detailed report

    • The detailed report gives a view of the fee report calculation with break up of various fee

    • The details of the criteria used to populate the fee report can be referred here along with the template file(s) considered for the said calculation

How to fill in the Fee Schedule Template

Below are the list of rules for filling in the fee schedule template

Sheet 1: AUM Based Fee

  • Purpose 

    • Set AUM based fee rates for child account

  • Required fields

    • Child Username

    • AUM fee percentage

    • AUM fee calculation method

    • AUM fee billing frequency

  • Rules/Considerations

    • The default percentage of AUM fee would apply to all child users tagged to the partner user

      • The user can specify a different percentage of fee to be charged to any or all of the child users and that percentage will override the percentage specified as default.

Sheet 2: Retrocession Fee

  • Purpose

    • Set retrocession fee rates for child account and user asset class combinations

  • Required Fields

    • Child username

    • User defined asset class

    • Retrocession percentage

    • Retrocession calculation method

  • Rules

    • Retrocession fee can be set at child account and user asset class combinations

    • The default percentage of retrocession fee would apply to all the child users and asset class pairs.

    • Custom fees specified for any child account/user asset class combination will override the default fee specified

Sheet 3: Manual values for Retrocession

  • Purpose

    • Override defaults for specific transactions- specify the absolute amount for the retrocession fee to be charged per transaction

  • Required fields

    • Ticketref (has to be a string)

    • Retrocession Currency (has to be an integer)

    • Retrocession Amount (has to be an integer)

  • Rules

    • The amount specified for each transaction would be applicable and that will override the fee percentage specified in the Retrocession Fee tab for those transactions only

    • It is not mandatory to fill in ‘Manual values for Retrocession’ tab, if left blank the Retrocession fee would be calculated as per details filled in the ‘Retrocession fee’ tab

Additional information

  • Please do not delete or rename any sheets in the template - leave blank where not applicable 

  • The default Fee Report currency is USD

  • If multiple fee templates are uploaded files, the following would be applied

    • All templates uploaded previously will be taken into account irrespective of the date range selected for Fee report

    • Fee templates will be processed in the sequence of upload date in descending order

    • Each template will override the similar entry in the template uploaded previously

  • For Fee Report the date range selected on the will have the below mentioned effect

    • Retrocession fee calculation-Transactions within the date range will be considered

    • AUM based fee calculation-Holdings within the date range will be considered

  • The fee rates specified in the template would apply to all the accounts throughout the time period and varied fee can not be charged for different time periods

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