Flexible premium arrangement, model 2 (layered order model)

Roles in model 2: PUO, pool administrator, fiduciary, investment administrator and investors

Model 2 divides the administration over four roles. The PUO keeps the participant and cohort administration and allocates return explicitly. The pool administrator (BA or PUO, now that the ACB role has been discontinued) calculates unit values and processes monthly mutations. The fiduciary sets the integral investment policy, instructs managers and keeps a shadow administration. The investment administrator keeps the independent pool administration and reconciles with the fiduciary. Asset managers manage portfolio segments on instruction.

Steps

• Role PUOPUOSends 5 (and 10 if it keeps the units), receives 6, 13, 14 input and 15.0054100553
• Role BAInvestment administratorSends 13 (preliminary and final) and, depending on the set-up, 10 and 14; receives 1, 2, 3.00555b0055300556
• Role FMFiduciary managerReceives 10 and 14, instructs managers and LDI manager, keeps the IBOR.0055300556

Source: Handleiding paragraaf 4.3