A contract note is the confirmation an investor receives after each subscription or redemption. It states the fund and share class, the dealing date, the NAV per share, the number of shares, the gross and net amounts, fees, currency and settlement date.
Contract notes are issued by the administrator, not the manager, and form part of the investor's audit trail. They are the document an investor's own accountant or custodian uses to book the position.
Most domiciles require contract notes to be issued promptly after each dealing, and they are a standard item in operational due-diligence checklists.
POD's administrator issues a contract note for every subscription and redemption, available in the investor interface.
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