Asset Decrease

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The Asset Decrease e-doc allows you to reduce the holdings of a KEMID, either through the cash sale of an asset or by removing it directly from the KEMID holding record. The same asset can be processed to multiple KEMID holding records by entering multiple transaction lines in the Asset Decrease e-doc. Only one asset may be entered on an Asset Decrease e-doc. Because assets can maintain multiple tax lots, special rules apply to the handling of the unique tax lots.

Asset decrease transactions are internal to the KEM module and may or may not involve the exchange of actual cash from a third party outside of your institution. For example, the sale of shares of pooled funds by the KEMID through the automated cash investment process does not involve a cash exchange, whereas the redemption (sale) of a gifted asset involves the receipt of cash from a third party. In both cases, the KEMID cash balance is increased, the holding of the asset is decreased, and there is a calculation of gain or loss on the transaction.