This article will provide you guidance on how to successfully transition your Portfolio's and Trust's to Class from manual sources.
We will run through the steps;
Prepare Data Files & Reports
- Create a separate folder for each fund on your PC or Shared Drive
- Fill the Portfolios Data Collection Form and save for each fund
Note: Ensure that all Amounts are only 2 decimal places
- Add the following reports to your fund folders
- Investment Summary as at Book Close Date - Report showing Purchase Parcel details (Acquisition Date, Quantity, Cost Base, Cost Base Adjustments) for all Investments held at Book Close Date. - For Wrap and Broker accounts, please provide either a Broker or Wrap statement that shows all of the assets held in the broker or Wrap account - For bank account details, please provide either the bank statement with the BSB and Account Number clearly readable, or alternatively provide a list of BSB's, account numbers, and fund codes that the bank accounts belong to. If you have multiple bank accounts in a fund, you should also include a means for the team to tell which account belongs to which BSB/Account Number
- Once all reports have been added for each fund folder, place the fund folders in to a batch folder. Zip your batch folder ready for uploading.
Optional: If you would like to keep track of financials (including beneficiary detail for trusts) as well as the investment portfolio please include the following:
- Trial Balance
- Notes to the financial statements as at the last book close date
- Tax Return as at the last book close date
Submit Files to TMS
For step by step instructions on how to submit your files please see the Transitions Management System article.
Timelines & More
It will take between 1 to 2 weeks for your funds to be loaded by Class. Please be aware that any missing details or reports may result in a delay in transitioning your funds. Once a fund has been loaded, we will advise you that this has occurred along with any assumptions we may have made during this process.
The Class Transitions team can perform additional services for you, including entering historical transactions, portfolio reconstructions, entering depreciation schedules, and data feed identification. For more information please see Additional Transitions Services