What is a representative account object?
A representative account is an example of a client account, without providing any client-specific details.
It allows asset managers to reflect the account details, fee structure and historical performance of client mandates. Usually this is provided as an example to other investors of how their account would look were they to invest a specific value.
Rep accounts are generally linked to a strategy. This is done from the “Representative accounts and performance” section of a strategy:
Representative account objects include fields on background details such as:
- Base currency
- Domicile country
- Inception date
- Number of clients
As well as fields on fees including:
- Fee scale type
- Fee schedule
- Entry fee
- Exit fee
- Performance fees
- Custody fees
From representative account objects you can link to a performance object to express historic performance.
Where an object is intended to reflect the actual details of a segregated client account (for client reporting, for example) then the correct object type to use is the mandate.