Flexible premium arrangement (FPR): investment pools and monthly cycle (messages 10, 13, 14 and 15)

Collective payout phase, non-unitised variant

In the non-unitised variant the collective payout phase (CVP) is administered in euros. That requires additional information flows next to the order flows of the accumulation phase: a cash instruction with message 2 at T-4 and a return statement with message 4 (manual figure 9). The same applies to the risk-sharing reserve and other reserves held in euros.

Steps

• T-4BA or PUO → FM/VBMessage 2 as a cash instruction in euros. Who sends it depends on the mutation: for a switch (capital moves from the accumulation phase to the CVP) the BA, for a complete sale (capital leaves the chain, for example at a benefit payment or an outgoing value transfer) the PUO. The amount is an expectation; the fixed statement follows after the order confirmation and the final NAV at T+3. 0001b
• T-4PUO → FM/VB, LDI managerMessage 3 with the interest-rate risk profile, also for the collective payout phase. 0001c
• After month-endBA → PUOMessage 4 with the realised return of the CVP and of reserves in euros: there the return is not in a unit price and has to be allocated explicitly (manual section 4.3.4). 00002

Source: Handleiding paragraaf 4.3.1 (procesflow, figuur 9), 4.3.2 en 4.3.4