Setting up Funding and Contributions Modules

Setting up Funding and Contributions modules

Set up the market related bases (see Basis Setup article for help) which you want to perform the daily valuations for. (Usually SFP, Solvency and FRS102. Take care to name these appropriately as the “Basis Name” in Mantle is what will be displayed on the front end. Eg. You may have bases called SFP 2014/Buyout 2014 which you want to calculate daily valuations, but you may wish to consider calling these Technical Provisions/Solvency respectively, as these will read better on the front end). Make absolutely sure these market related assumptions are derived correctly because if they are not, Mike/Harry will need to delete these daily valuations and then start them again. This may be at considerable expense to Spence / PHC!

In order to populate the “Contributions” module on the front end of Mantle, before you set off the daily valuations running, you need to tell Mantle what the assumption for the return on existing assets and future contributions (if applicable) is, along with the amounts and timings of any deficit reduction payments. These details will be found in the Recovery Plan or the Schedule of Contributions.

As the Recovery Plan will have been set using the Technical Provisions bases, enter the assumption for the return on existing assets and future contributions (if applicable) into this basis in the following location;

Ordered List Item

*It may be possible that the parameter for the "Assets Return" is missing from the projections above. If so, this can be added in.

Now to add the contributions details. Still within the Technical Provisions basis, tick the following option in the basis setup. This will add a number of new boxes to the bottom of the basis setup specifically relating to the contributions.

You will now have 2 boxes which you can enter text into, namely “Short Contributions Details” and “Long Contributions Details”. These should be self explanatory, but for the avoidance of doubt, enter a short synopsis of the contributions into the “Short Contributions Details”, and in the “Long Contributions Details”, provide more detail. I usually leave the short box empty, but this is up to the client team, and in the long box, I exactly copy the necessary paragraphs from the Recovery Plan.

*Please note that this text has to be formatted in HTML language. I would suggest opening another basis for which this has already been done and copying this text to use as your starting point. You can then remove the wording which is specific to Grants, but keep the HTML formatting, eg.

,

etc. Once you have made a change to the text and want to see how it will look on Mantle, click anywhere outside of the blue box and you can review this below, eg.

Now add the amount and timing of the contributions themselves at the very bottom of the basis:

If the scheme you are setting up has regular contributions, choose the "Add Bulk Contributions" option and complete the necessary parameters:

Alternatively, if it is more bespoke, you should use “Add Contribution” and enter them manually.

Now that the contributions analysis is complete, you can select the options to calculate the daily valuations (see below), save the run and allow Mantle time to populate these.

**please remember not to select a daily valuation start date before the date which you have assets recorded otherwise the valuation history will look daft!