In this article, we cover a series of questions you may ask during your transition period.
What Entities do I move first?
We suggest thought should be given to the process of funds to bring on first.
Time-critical or logment deadline entities
You should transition these to be able to work on them immediately
|Move in Batches||All Entities finalised for the most recent financial year||You should move these on as these are funds just completed by you that haven't started the new financial year. This means you can begin work on these now.|
|Move in Batches||All Entities based on their data feeds||
You should consider moving funds that don't provide data history for Banks, Platforms and Brokers. Check out the Data Feeds - Overview for a list of all available feeds.
You will need to request the CSV data from your clients in order to back-fill any of the feeds with no history.
What about Funds I still have in progress?
Class only loads funds from a 30 June XXXX opening position, this means your fund will only transition from its last audited close date.
Can I submit all my funds in one batch?
There is no minimum or a maximum number of funds you need to load for each batch.
However, we generally recommend that you provide larger batches for transition for three main reasons:
- It is much more efficient for the transitions team to deal with a larger batch, and less work for you with the amount of batches to load in TMS
- While you are working on preparing the next batch, the transitions team will be uploading your prior batch as there is a 2-week standard SLA on uploading.
- The quicker we get your funds on, the quicker you can start processing
We recommend you aim to complete your transition within the first month of your implementation.
What data do I need to give you?
We will need all of the data files and reports as indicated based on the providers you are coming from see Loading your funds to Class
Failure to provide all mandatory files and reports will result in the fund being queried, resulting in delays to the SLAs.
Can I email you my data?
We strongly recommend you should not send client information via email. We recommend, once you are ready to load your files and reports, you load them to the Transition Management System (TMS).
Does Class provide any other Transition Services?
There are some additional services that the Class Transitions Team can provide that are not part of the standard transition process.
1. Portfolio reconstructions
2.Transaction transcriptions (convert bank statements)
3. Depreciation schedules
For more details on the above please visit our Additional Transitions Services page.
How do I check the funds once they have been loaded?
There are some further tasks you will need to action after the funds have been loaded.
See Reviewing Entities Transitioned article for more information.