bugLet me illustrate... - Bugs: bug #13870, Input extra asset charge has...


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bug #13870: Input extra asset charge has inconsistent meaning

Submitted by:  Greg Chicares <chicares>
Submitted on:  Wed 20 Jul 2005 11:50:01 PM UTC  
Category:  None Severity:  3 - Normal
Item Group:  lmi defect Status:  None
Privacy:  Public Assigned to:  None
Open/Closed:  Open

Wed 20 Jul 2005 11:50:01 PM UTC, original submission:

In this input field, one percent is entered as
'100' (basis points) for some products, but
'.01' (pure number) for others.
Actually, it is governed by database entity 'DB_AssetChargeType',
though that is not documented.

All other numeric input fields except overriding fund fee expect
pure (dimensionless) numbers. These two exceptions aside, all
numeric input is consistent, which seems desirable in itself.
Ideally, 'X%' would be accepted, too: then the common new-user
question "do I enter the interest rate as a percent?" could be
answered "do what you'd do in a spreadsheet"; and it wouldn't be
much harder to allow 'Y bp'.

Different user communities have become accustomed to this, so
making it work consistently is difficult, and poses a backward-
compatibility problem for input files saved in the past.

To add to the confusion, this field is presented in several
input skins as asset-based compensation, and indeed its internal
name is 'ExtraCompensationOnAssets', because that was the
original intention; but it's simply applied as an extra asset
charge, on separate-account assets only, and isn't correctly
taken into account in the compensation calculation: see

Greg Chicares <chicares>
Project Administrator


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