15 Mar Release 15 March 2024 – Distribution clarity on rounding errors

Posted at 11:45h in Recent Updates by

Distribution clarity on rounding errors

In this release we enhanced distributions and distribution reporting to assist users in investigating large rounding errors. A separate client account has also been created on the working portfolio to contain the distribution received and distribution exchange transactions, which were previously written to the working portfolio. This change reduce the amount of transactions on the default working portfolio client account and also assist in identifying large rounding errors on the Distribution client account. See link

 

More changes include:

  • Changed system not to allow a re-balance on a model portfolio client account if another re-balance is in progress on the account
  • Do not allow models to be available for transfer in and transfer out on instructions
  • Improved message on confirmation of a dealer instruction, when the next recurring withdrawal does not have enough funds in an instrument available to create the next recurring withdrawal
  • Sorted drop-downs on system to be alphabetical
  • Added functionality to move client/s to a different product with a different owner custodian. See link
  • Made changes to allow the release of a withdrawal if sufficient cash is available while a rebalance is in progress on the contract
  • Changed the ‘Model portfolio Allocation Comparison’ report to display the AUM in the system, where the Platform provider of the model is the Financial Service Provider on the configuration
  • Optimised assets & liabilities reports, to run faster
  • Prevented system from creating a dealer instruction where the buy value is less than the value of one unit
  • Enabled the ability to do a re-balance on a model portfolio when the cash on the model portfolio is negative
  • Improved the message displayed on withdrawals where the client amount is zero or less after fees and taxes have been deducted
  • Added additional columns (Client Amount (net), PAYE, IT88) to instructions->Waiting for payment
  • Enabled the ability to release a payment on a contract before a re-balance on a model portfolio has completed if sufficient cash is available to make a payment to the client
  • Added history on available instruments on a product and employer
  • Added option to run the Transaction report on processing date
  • Added a setting (Product for fee portfolios) on a custodian to be able to specify which product to use when a fee control contract or fee contract are created by the system. See link
  • Added ‘Test’ to a filename when generated from test(applicable to money transfers, dealer instructions and payment batches)
  • Added functionality that will write a reversal transaction when a manually identified bank entry is unmatched
  • Add option to an instrument to indicate if sells must only be done as units, ‘Can sell in amount?Switch this off if the instrument cannot instruct sells in amounts’
  • Made the first contact person on a company the default contact person if no default contact person has been set on the company
  • Added field for ‘PAYE tax directive issue date’ on withdrawal instructions from compulsory products, which are added to SARS PAYE file
  • Ensured that importing investment instructions (Investors->Import Contracts) will invest in the default Client account on a contract that also contains a model portfolio client account, if the Model portfolio is not specified in the import file
  • Added ‘last taken fee date’ to Export Contract report
  • Made header line text configurable on the Performance Comparison document on a product. see link
  • Created functionality to invest on one investment instruction into more than one model portfolio
  • Changed order of screens on a switch instruction. See link
  • Added option in the statement default instruction table to display the instruction purpose if it is a distribution payout, setting   ‘Display instruction purpose for a distribution payout’ needs to be ticked
  • Added Validation to ensure reinvestment date is after declaration date on distributions
  • Added functionality to handle investment instruction that invest in more than one model
  • Added Standard bank legacy bank statement import format
  • Moved rebalance instructions from the contract level to the client account level
  • Added asset holder custodian – and product filters to the Transaction report
  • Changed rebalance instruction due to a withdrawal instruction on a model client account to only move the cash to the default client account after the sells have settled
  • Changed system where a rebalance is in progress on a model linked client account and a new investment is authorised to create a switch that buys the model portfolio’s instrument composition directly
  • Added the ability to to do multiple in-progress investments into a model
  • Added the display of the finswitch reference number on dealer instructions
  • Added the ability to create an internal switch on a portfolio instrument, where the instrument provider on both portfolios are the same
  • Added ‘last transaction date’ to Export contract holdings report
  • Added an option to not show the ‘Annualised IRR Since Inception’ column in ‘Investment Return’ table in single and combined statements
  • Added an option on a product to default first system fee date to first transaction date or First of month after first transaction date
  • Added new end point “Available Holdings” to the Accounts API. See link
  • Updated marketValue end point to include the Contract preferred currency on the Accounts API. See link
  • Added new end point “Brokerage clients details” to the Advisors API. See link
  • Refer to changes to the Export Transaction Data Job (S3). See link

Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Last Updated on 3 months ago by otto