Transfer Agency & Investor Lifecycle

Dealing cut-off

The latest valid time for a subscription, redemption, or switch to receive the current dealing day or NAV date.

Trade date / NAV date

The date on which the instruction is priced. It may differ from the settlement date when cash moves later.

Settlement date

The date by which subscription money is due in or redemption money is due out under the fund dealing rules.

First money in

The initial subscription cash for a relationship. This often attracts stronger bank-account and source checks than later repeat subscriptions.

Register

The official record of share or unit ownership, including legal holder name, position, and relevant servicing instructions.

Omnibus account

A nominee or intermediary is recorded on the register while holding for underlying investors off-register.

Pending issue

A trade that cannot yet be finalized because a key document, control, or funding condition is still unresolved.

Static data

Reference information such as investor name, address, bank account, signatories, settlement instructions, and tax classification.

Settlement break

A mismatch or failure between expected and actual cash, account details, or trade completion steps.

Four-eyes control

An operational maker-checker discipline in which a second person verifies a high-risk or sensitive instruction before release.