Registered Funds Overview

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Integrating through Apex AscendOS?
The product guidance on this page applies to you. The endpoints, fields and statuses are Monark's; use the AscendOS equivalents listed in Building on Apex AscendOS.

A registered fund is a pooled vehicle registered with the SEC. Monark exposes them through the same transaction API as private company SPVs, so the shape of an integration is the same: discover a fund, create a transaction, complete its actions, track it to settlement.

One API, two products

POST /primary/v2/transaction is the unified order endpoint. targetAssetType selects the product:

`targetAssetType`	Target
`PreIPOCompanySPV`	A single-asset SPV over a private company
`RegisteredFund`	A registered fund

Everything in Transaction Actions applies to both, as does the transaction status lifecycle.

Where the products diverge

Sides. A Pre-IPO SPV transaction can only ever be a Subscription. Registered funds accept the full set:

Side	Meaning
`Subscription`	Buy in
`Redemption`	Sell out. Requires `isFullExit`, and `amountShares` unless the exit is full
`Transfer`	Move a position. Registered funds only — requires `isFullExit`, and `transferDirection` where the default of `Inbound` is not what you want
`Commitment`	Commit capital to a drawdown fund
`CapitalCall`	Fund an individual capital call. Does not reference a prior commitment

Commitment and CapitalCall require a drawdown registered fund, and refuse amountShares, isFullExit, taxLotElection and distributionElection.

Exit. Registered fund investors redeem. SPV investors cannot redeem. This difference shapes the whole portfolio experience and is worth surfacing to investors explicitly.

Statuses. All eight transaction statuses are reachable for a registered fund, including Initiated and PendingCancellation, which an SPV subscription never reaches. See Transactions.

Share classes. A registered fund order names a shareClassId. An SPV has no share class concept.

What is the same

Authentication, pagination, idempotency and the error envelope. See Authentication & Environments.
Parties, accounts and accreditation. See Investor Accounts.
The transaction action workflow, including the document signing order. See Transaction Actions.
Webhook delivery, though the status event is RegisteredFundTransactionStatus rather than SubscriptionStatus.

Next steps

List funds and build a fund page: Fund Discovery and Detail
Create an order: Subscription Transaction