Performance of Daily Accounting Services. MUIS shall perform the following accounting services for each Trust or Series (as applicable) on each day that the Trust or Series calculates the net asset values (“NAVs”): 1. Calculate the NAV per share in accordance with the Trust’s procedures by utilizing prices obtained from independent pricing services or from the Trust’s investment adviser or its designee, as applicable, and calculate amortized costs of securities when applicable, in accordance with applicable Trust procedures; 2. Reconcile all daily trade activity with the Trust or Series’ custodian, and conduct daily reconciliation of cash and portfolio transactions with accounts and records of the Trust (or Series, as applicable) and the custodian; 3. Create and maintain security masters as needed for Series positions; 4. Compute or review, as appropriate, the Trust or Series’ net income and capital gains, dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, and weighted average portfolio maturity; 5. Review daily the net asset value calculation and dividend factor (if any) for the Trust or Series prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations, and distribute NAVs and yields to NASDAQ and twice daily to transfer agent; 6. Determine unrealized appreciation and depreciation on securities held by the Trust consistently with the valuation procedures the Trust or its designee adopted pursuant to Rule 2a-5 under the 1940 Act; 7. Amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust,Series or its designee; 8. Input updates into MUIS’s fund accounting system to reflect rate changes, as received from an independent pricing service or the Trust, on variable interest rate instruments; 9. Post Series’ transactions to appropriate Series’ accounts; 10. Calculate and accrue all necessary and appropriate expenses of the Trust or Series, including all contractual expenses of the Trust or Series that are provided to MUIS; 11. Record all disbursements for the Trust or Series; 12. Determine the outstanding receivables and payables for all (i) security trades, (ii) Trust share transactions and (iii) income and expense accounts and reconcile general ledger accounts to subsidiary ledgers; 13. Provide quarterly Board reporting and assist with annual or regulatory audits, each according to an agreed upon schedule, and assist in preparing for Board meetings by (i) preparing the relevant sections of the Board materials pertaining to the responsibilities of MUIS, (ii) providing reporting and support related to annual contract approvals and related matters, and (iii) performing such other Board meeting functions as agreed by the parties; 14. Provide such periodic reports as the parties shall agree upon, such as cash reporting, weekly, monthly, or quarterly reports; 15. Identify and process all corporate actions of portfolio companies held by the Series; 16. Monitor the reasonableness of price movements, consistent with applicable policies and procedures of the Trusts; 17. Maintain valuation database and provide agreed upon valuation related reports; and 18. Process expense reimbursements from Series.
Appears in 3 contracts
Samples: Fund Accounting and Administration Agreement (Transparent Value Trust), Fund Accounting and Administration Agreement (Guggenheim Strategy Funds Trust), Fund Accounting and Administration Agreement (Guggenheim Funds Trust)
Performance of Daily Accounting Services. MUIS shall perform the following accounting services for each the Trust or Series (as applicable) on each day that the Trust or Series calculates the net asset values (“NAVs”)::
1. Calculate the NAV per share in accordance with the Trust’s procedures by utilizing prices obtained from independent pricing services or from the Trust’s investment adviser or its designee, as applicable, and calculate amortized costs of securities when applicable, in accordance with applicable Trust procedures;
2. Reconcile all daily trade activity with the Trust or Series’ Trust’s custodian, and conduct daily reconciliation of cash and portfolio transactions with accounts and records of the Trust (or Series, as applicable) and the custodian;
3. Create and maintain security masters as needed for Series Trust positions;
4. Compute or review, as appropriate, the Trust or Series’ Trust’s net income and capital gains, and dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, and weighted average portfolio maturity;
5. Review daily the net asset value calculation and dividend factor (if any) for the Trust or Series prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations, and distribute NAVs and yields to NASDAQ and twice daily to transfer agent;
6. Determine unrealized appreciation and depreciation on securities held by the Trust consistently with the valuation procedures the Trust or its designee adopted pursuant to Rule 2a-5 under the 1940 Act;
76. Amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust,Series Trust or its designee;
87. Input updates into MUIS’s fund accounting system to reflect rate changes, as received from an independent pricing service or the Trust, on variable interest rate instruments;
98. Post Series’ Trust transactions to appropriate Series’ Trust accounts;
109. Calculate and accrue all necessary and appropriate expenses of the Trust or SeriesTrust, including all contractual Trust expenses of the Trust or Series that are provided to MUIS;
1110. Record all disbursements for the Trust or SeriesTrust;
1211. Determine the outstanding receivables and payables for all (i) security trades, (ii) Trust share transactions and (iii) income and expense accounts and reconcile general ledger accounts to subsidiary ledgers;
1312. Provide quarterly Board reporting and assist with annual or regulatory audits, each according to an agreed upon schedule, and assist in preparing for Board meetings by (i) preparing the relevant sections of the Board materials pertaining to the responsibilities of MUIS, (ii) providing reporting and support related to annual contract approvals and related matters, and (iii) performing such other Board meeting functions as agreed by the parties;
1413. Provide such periodic reports as the parties shall agree upon, such as cash reporting, weekly, monthly, or quarterly reports;
1514. Identify and process all corporate actions of portfolio companies held by the SeriesTrust;
1615. Monitor the reasonableness of price movements, consistent with applicable policies and procedures of the Trusts;
16. Disseminate NAVs daily;
17. Maintain valuation database and provide agreed upon valuation related reports; and
18. Process expense reimbursements from Seriesthe Trust.
Appears in 2 contracts
Samples: Fund Accounting and Administration Agreement (Guggenheim Strategic Opportunities Fund), Closed End Fund Accounting and Administration Agreement (Guggenheim Energy & Income Fund)
Performance of Daily Accounting Services. MUIS In addition to the maintenance of the books and records specified above, BISYS shall perform the following accounting services daily for each Trust or Series (as applicable) on each day that the Trust or Series calculates Fund:
a. Calculate the net asset values value (“NAVs”):
1. Calculate the NAV NAV) per share in accordance with the Trust’s procedures by and public offering price (POP) utilizing prices obtained from the sources described in subparagraph 2(b) below;
b. Obtain security prices from independent pricing services services, or if such quotes are unavailable, then obtain such prices from the Trust’s each Fund's investment adviser or its designee, as applicable, and calculate amortized costs of securities when applicable, in accordance with applicable Trust proceduresapproved by the Trusts' Board;
2. Reconcile c. Verify and reconcile with the Trusts' custodian all daily trade activity with the Trust or Series’ custodian, and conduct daily reconciliation of cash and portfolio transactions with accounts and records of the Trust (or Series, as applicable) and the custodianactivity;
3. Create and maintain security masters as needed for Series positions;
4. Compute or reviewd. Compute, as appropriate, the Trust or Series’ each Fund's net income and capital gains, dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, mark-to-market and weighted average averxxx portfolio maturity;
5. e. Review daily the net asset value calculation and dividend factor (if any) for the Trust or Series each Fund prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations, and distribute NAVs net asset values, income and dividend factors and yields to NASDAQ NASDAQ, the transfer agent and twice daily to transfer agentclient locations as requested;
6. f. Report to the Trusts the daily market pricing of securities in any money market Fund, with the comparison to the amortized cost basis;
g. Determine unrealized appreciation and depreciation on securities held by the Trust consistently with the valuation procedures the Trust or its designee adopted pursuant to Rule 2a-5 under the 1940 Actin variable net asset value Funds;
7. h. Amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust,Series or its designeeTrusts;
8. Input updates into MUIS’s i. Update fund accounting system to reflect rate changes, as received from an independent pricing service a Fund's investment adviser or the Trustother approved sources, on variable interest rate instruments;
9. j. Post Series’ Fund transactions to appropriate Series’ accountsgeneral ledger categories;
10. Calculate and accrue all necessary and appropriate k. Accrue expenses of each Fund according to instructions received from the Trust or Series, including all contractual expenses of the Trust or Series that are provided to MUISCompany;
11. Record all disbursements for the Trust or Series;
12. l. Determine the outstanding receivables and payables for all (i1) security trades, (ii2) Trust Fund share transactions and (iii3) income and expense accounts and reconcile general ledger accounts to subsidiary ledgersaccounts;
13. m. Provide quarterly Board reporting accounting reports in connection with the Trusts' regular annual audit, financial reports, regulatory filings, compliance reporting, tax reporting, total return calculations and assist with annual or other audits and examinations by regulatory audits, each according to an agreed upon schedule, and assist in preparing for Board meetings by (i) preparing the relevant sections of the Board materials pertaining to the responsibilities of MUIS, (ii) providing reporting and support related to annual contract approvals and related matters, and (iii) performing such other Board meeting functions as agreed by the partiesagencies;
14. n. Provide such periodic (daily, weekly, monthly) reports and/or file extracts, as the parties shall agree upon, such as cash reporting, weekly, monthly, or quarterly reports;
15. Identify o. Reconcile cash, foreign currency and process security holding positions with a custodian on a regular basis;
p. Identify, research and post all corporate actions of portfolio companies held by the Seriesdue a Fund;
16. Monitor q. Calculate allocation of income, expense and security appreciation/depreciation across multiple classes as appropriate;
r. Calculate contractual expenses and control all disbursements for the reasonableness of price movements, consistent with applicable policies Trusts and procedures each of the TrustsFunds (including Company payments to sub-advisors) subject to the supervision of the Company, and as appropriate compute the Funds' expense ratio, portfolio turnover rate and, if required, portfolio average dollar-weighted maturity;
17. Maintain valuation database s. Post summary shareholder activity received from the Transfer Agent and provide agreed upon valuation related reportsreconcile share balances, including receivables and payables with the Transfer Agent on a daily basis; and
18. Process expense reimbursements t. Respond to surveys from Seriesindustry publications, including, but not limited to, Lipper, Morningstar, Donahue, Dalbar, Standard & Poor'x xxd the Investment Company Institute.
Appears in 1 contract
Performance of Daily Accounting Services. MUIS In addition to the maintenance of the books and records specified above, BISYS shall perform the following accounting services daily for each Trust or Series (as applicable) on each day that the Trust or Series calculates Fund:
a. Calculate the net asset values value (“NAVs”):
1. Calculate the NAV NAV) per share in accordance with the Trust’s procedures by and public offering price (POP) utilizing prices obtained from the sources described in subparagraph 2(b) below;
b. Obtain security prices from independent pricing services services, or if such quotes are unavailable, then obtain such prices from the Trust’s each Fund's investment adviser or its designee, as applicable, and calculate amortized costs of securities when applicable, in accordance with applicable Trust proceduresapproved by the Trusts' Board;
2. Reconcile c. Verify and reconcile with the Trusts' custodian all daily trade activity with the Trust or Series’ custodian, and conduct daily reconciliation of cash and portfolio transactions with accounts and records of the Trust (or Series, as applicable) and the custodianactivity;
3. Create and maintain security masters as needed for Series positions;
4. Compute or reviewd. Compute, as appropriate, the Trust or Series’ each Fund's net income and capital gains, dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, mark-to-market and weighted average avexxxx portfolio maturity;
5. e. Review daily the net asset value calculation and dividend factor (if any) for the Trust or Series each Fund prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations, and distribute NAVs net asset values, income and dividend factors and yields to NASDAQ NASDAQ, the transfer agent and twice daily to transfer agentclient locations as requested;
6. f. Report to the Trusts the daily market pricing of securities in any money market Fund, with the comparison to the amortized cost basis;
g. Determine unrealized appreciation and depreciation on securities held by the Trust consistently with the valuation procedures the Trust or its designee adopted pursuant to Rule 2a-5 under the 1940 Actin variable net asset value Funds;
7. h. Amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust,Series or its designeeTrusts;
8. Input updates into MUIS’s i. Update fund accounting system to reflect rate changes, as received from an independent pricing service a Fund's investment adviser or the Trustother approved sources, on variable interest rate instruments;
9. j. Post Series’ Fund transactions to appropriate Series’ accountsgeneral ledger categories;
10. Calculate and accrue all necessary and appropriate k. Accrue expenses of each Fund according to instructions received from the Trust or Series, including all contractual expenses of the Trust or Series that are provided to MUISCompany;
11. Record all disbursements for the Trust or Series;
12. l. Determine the outstanding receivables and payables for all (i1) security trades, (ii2) Trust Fund share transactions and (iii3) income and expense accounts and reconcile general ledger accounts to subsidiary ledgersaccounts;
13. m. Provide quarterly Board reporting accounting reports in connection with the Trusts' regular annual audit, financial reports, regulatory filings, compliance reporting, tax reporting, total return calculations and assist with annual or other audits and examinations by regulatory audits, each according to an agreed upon schedule, and assist in preparing for Board meetings by (i) preparing the relevant sections of the Board materials pertaining to the responsibilities of MUIS, (ii) providing reporting and support related to annual contract approvals and related matters, and (iii) performing such other Board meeting functions as agreed by the partiesagencies;
14. n. Provide such periodic (daily, weekly, monthly) reports and/or file extracts, as the parties shall agree upon, such as cash reporting, weekly, monthly, or quarterly reports;
15. Identify o. Reconcile cash, foreign currency and process security holding positions with a custodian on a regular basis;
p. Identify, research and post all corporate actions of portfolio companies held by the Seriesdue a Fund;
16. Monitor q. Calculate allocation of income, expense and security appreciation/depreciation across multiple classes as appropriate;
r. Calculate contractual expenses and control all disbursements for the reasonableness of price movements, consistent with applicable policies Trusts and procedures each of the TrustsFunds (including Company payments to sub-advisors) subject to the supervision of the Company, and as appropriate compute the Funds' expense ratio, portfolio turnover rate and, if required, portfolio average dollar-weighted maturity;
17. Maintain valuation database s. Post summary shareholder activity received from the Transfer Agent and provide agreed upon valuation related reportsreconcile share balances, including receivables and payables with the Transfer Agent on a daily basis; and
18. Process expense reimbursements t. Respond to surveys from Seriesindustry publications, including, but not limited to, Lipper, Morningstar, Donahue, Dalbar, Standard & Poox'x xnd the Investment Company Institute.
Appears in 1 contract
Samples: Services Agreement (Gartmore Variable Insurance Trust)
Performance of Daily Accounting Services. MUIS shall perform the following accounting services for each the Trust or Series (as applicable) on each day that the Trust or Series calculates the net asset values (“NAVs”)::
1. Calculate the NAV per share in accordance with the Trust’s procedures by utilizing prices obtained from independent pricing services or from the Trust’s investment adviser or its designee, as applicable, and calculate amortized costs of securities when applicable, in accordance with applicable Trust procedures;
2. Reconcile all daily trade activity with the Trust or Series’ Trust’s custodian, and conduct daily reconciliation of cash and portfolio transactions with accounts and records of the Trust (or Series, as applicable) and the custodian;
3. Create and maintain security masters as needed for Series Trust positions;
4. Compute or review, as appropriate, the Trust or Series’ Trust’s net income and capital gains, and dividend payables, dividend factors, 7-day yields, 7-day effective yields, 30-day yields, and weighted average portfolio maturity;
5. Review daily the net asset value calculation and dividend factor (if any) for the Trust or Series prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations, and distribute NAVs and yields to NASDAQ and twice daily to transfer agent;
6. Determine unrealized appreciation and depreciation on securities held by the Trust consistently with the valuation procedures the Trust or its designee adopted pursuant to Rule 2a-5 under the 1940 Act;
76. Amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust,Series Trust or its designee;
87. Input updates into MUIS’s fund accounting system to reflect rate changes, as received from an independent pricing service or the Trust, on variable interest rate instruments;
98. Post Series’ Trust transactions to appropriate Series’ Trust accounts;
109. Calculate and accrue all necessary and appropriate expenses of the Trust or SeriesTrust, including all contractual Trust expenses of the Trust or Series that are provided to MUIS;
1110. Record all disbursements for the Trust or SeriesTrust;
1211. Determine the outstanding receivables and payables for all (i) security trades, (ii) Trust share transactions and (iii) income and expense accounts and reconcile general ledger accounts to subsidiary ledgers;
1312. Provide quarterly Board reporting and assist with annual or regulatory audits, each according to an agreed upon schedule, and assist in preparing for Board meetings by (i) preparing the relevant sections of the Board materials pertaining to the responsibilities of MUIS, (ii) providing reporting and support related to annual contract approvals and related matters, and (iii) performing such other Board meeting functions as agreed by the parties;
1413. Provide such periodic reports as the parties shall agree upon, such as cash reporting, weekly, monthly, or quarterly reports;
1514. Identify and process all corporate actions of portfolio companies held by the SeriesTrust;
1615. Monitor the reasonableness of price movements, consistent with applicable policies and procedures of the Trusts;
16. Disseminate NAVs daily;
17. Maintain valuation database and provide agreed upon valuation related reports; and
and 18. Process expense reimbursements from Seriesthe Trust.
Appears in 1 contract
