Investment Valuation

A comprehensive investment valuation for a scheme can be sent to Word or Excel, from the menu item ‘Reports, Investment Valuation’.

The investment valuation allows for:

1. Past Valuation Dates. Any data can be selected and Omni finds the investments held at that date, including any investments that have since been sold. For unitised funds, the number of units held at any date is calculated from the investment transaction data. The bank balances at any date are calculated from all the bank transactions. The price for each investment stored at the valuation date is used (or the most recent price stored before that date).

2. Bank accounts with zero balances are included unless the account status has been set to ‘Closed’ or ‘Archived’.

3. Overdue automatically generated expected transactions for rent and loan payments are included. This includes rent shortfalls.

4. Overdue general expected transactions entered by users

5. Debtors and creditors manually entered for that date.

6. Rent prepayments. Using the tick box, rent prepayments can be included or excluded for a specific valuation without amending the general basis for a scheme.

7. Tax relief on contributions. If contributions are received net of income tax and the tax claims are prepared using the automated Omni Contribution Tax Relief functions, Omni will look through all contributions received before the investment valuation date. If the tax relief for that contribution has not been received, the tax relief due will be included as a debtor.

8. Pension payments in transit. Sometimes pension payments leave the scheme bank account before the due date (e.g. when a payroll bureau or a centralised payroll account is used). If the ‘Pay day’ is after the investment valuation date but the date paid is on or before the valuation date, Omni includes that payment as a debtor with a label of ‘Pension in Transit’ because it is not actually due. New, posted and imported payments are included, as long as the Pay day has been entered,

9. Cost is shown as well as market value. When there have been partial sales of units, the cost becomes somewhat academic. Some people argue that the units bought first should be sold first. Others (including HMRC) argue that the units bought last should be sold first. Others argue that the units should be sold proportionately. All 3 methods result in a different result for the amended cost which demonstrates that the answer is somewhat arbitrary. When an investment transaction for a partial sale is entered, the user needs to calculate the appropriate part of the cost and enter it as ‘Cost of Units Sold’. Omni will use this to calculate the cost of the remaining investment or, if no cost is entered for the partial sale, will simply show a dash ‘ - ‘. If any investments show ‘-‘ in the cost column, the totals will also be shown as ‘-‘.

10. Term deposits. If all of the details for a term deposit are entered and the deposit is live at the date of the investment valuation, the accrued interest will be shown at the foot of the valuation. The way in which the accrued interest has been calculated can be found by running ‘Reports, Accounts Data’ at the valuation date.

11. Segregated portfolios – the value is calculated by taking the latest price stored before the valuation date and then adjusting for any investment transactions stored between the date of the previous price and the valuation date i.e. adding on any new funds added to the portfolio and deducting any funds withdrawn from the portfolio. If the valuation is sent to Excel, for any segregated portfolios where the value has been adjusted the ‘Price Date’ is changed to ‘Stored Price Amended’. For other investments, Omni uses the investment transactions to determine the number of units at the valuation date.

The version of the Investment Valuation sent to Excel includes extra columns:

1. Price Date – the date that the investment was last valued. For loans, the date will be moved forward from the latest price date if the valuation has been reduced by the capital element of subsequent loan repayments. For bank accounts and property syndicates, no date is shown.

2. Holding – number of units