Issue

How do I process Hybrid Security Reinvestment on Class via Corporate Action Console? 

Background

Class supports Hybrid Security Reinvestment for investments from 1 July 2022 onward. Processing via the Corporate Action console allows you to leverage the automation instead of having to manually process disposal and a purchase. Hybrid Security Reinvestment transactions are not automated via the data feed as they are off market transactions. This is the only Optional Corporate Action available at the Business Level for bulk processing.

Hybrid Security Reinvestment prior to 1 July 2022 needs to be processed manually.

Partial Reinvestment of Hybrid Security is not available.

Resolution

Worked Example of Business Level and Entity Level processing of Hybrid Security Reinvestment.

CBAPD reinvested in CBAPL on 15/11/2022

Business Level (Bulk Processing)

 Navigate to Business Level > Corporate Actions 

1. When you are in Corporate Actions Console.
2. Select the Corporate Action to open the Announcement Details page. You may use Search via typing investment code or Hybrid Security Reinvestment.

1. In the Announcement Details page (shown below), action the Corporate Action in bulk by selection the box for entities which has participated in the Hybrid Security Reinvestment
2. Once the chosen entities are all ticked click "+ Process"
3. You may also Undo processed corporate action and/or Ignore in bulk

As this is an Optional corporate action, not all entities may participate in the reinvestment.
To process redemption for cash please navigate to fund level and process disposal manually.

Fund Level

 Navigate to Fund Level > Investments > Browse Corporate Actions

1. In the Browse Corporate Actions page click on Action to process.
2. Hybrid Security Reinvestment event page opens where Target Investment Account gets auto created
3. Source Quantity is pre-filled and it is the quantity of Source Investment Account on Action Date
4. Target Quantity is pre-filled the same quantity of Source Investment Account
5. Target Market Value pre-filled. This is the proceeds  of the Source Investment Account
6. Update Parcelling is auto triggered as soon as the page loads
7. Click on Submit button after reviewing all the details

What's Next? 

Learn how to process Corporate Actions Manually.

See FAQs - Corporate Actions knowledge-based article to address scenario-based questions our Support Team have previously answered.