We’re pleased to introduce the newest enhancements and features in our August release. Here are the key highlights for your attention.

Hybrid Replication

We have introduced a new portfolio type called Replication Hybrid portfolio. This new portfolio type combines the latest Portfolio Replication Valuation upload with trades posted in the Front Office that are not yet included in the Portfolio Replication Valuation Upload.

The existing Portfolio Replication Valuation upload functionality in FPM offers a holding snapshot of a completed valuation performed on another system. Now, clients can capture their trades in FPM, and the replicated holdings they view will include these trades.

Another significant advantage of the Replication Hybrid portfolio is that it allows clients the ability to perform oversight of their external fund administrator’s valuation by comparing the uploaded Portfolio Replication Valuation holdings plus Trades to the next Portfolio Replication Valuation upload.

We have added the ability to upload multiple Portfolio Replication Valuation holdings per date.

The ability to change existing portfolios into Hybrid portfolios has also been added.

Look Through

The Look Through feature for Unit Trust instruments has been enhanced to support multi-class currency Unit Trusts. The previous restriction that required the Look Through portfolio and the Unit Trust instrument to share the same currency has been removed.

Additionally, when performing a Holdings Asset Explosion for 'Internal Price Funds' and selecting the 'Expanded' option, the system will now display internal explosions (i.e. Unit Trust instruments linked to portfolios on FPM) under the instrument codes that correspond to the underlying portfolio holdings. This change will be visible in the tree structure on the Holdings Enquiry screen.

Front Office

Two new columns, 'Released On' and 'Released By' have been added to the Orders list grid. Making it easy to identify the user who released the order.

Modelling

We have introduced a new "Benchmark (Nominals)" weighting type within the Constituent Weightings. When this option is used, weights are captured as nominals and specifically used within the modelling feature. This allows portfolio managers to recalculate benchmarks using the most recent market prices. The new weighting type can also be referenced in spreads, where the "Base Weight" is calculated as a percentage of the captured nominal.

Modelling Analysis: When performing a modelling analysis, the final percentages are determined using the most current prices and exchange rates based on the selected price set. If different price sets are used across portfolios, the resulting weights may vary even on the same day. All details, including benchmark nominals, prices, rates, and final weights, are now available under the new ‘Benchmark Calculations’ tab.

Pre-Trade Compliance

The 'Failed Compliance' flag on Trades has been updated to 'Compliance Status', with new options: 'Not Checked', 'Pass', and 'Fail', making it clearer whether compliance checks have been run.

A 'View Compliance Results' option has also been added to the Orders and Trades UI, allowing users to easily review pre-trade compliance results. The results will display all Orders/Trades that were part of the same compliance run as the selected Order/Trade.

Repurchase Agreement | Buy-Backs

The existing CARRY instrument, which already supports Repurchase Agreements (REPOS), has been enhanced to also accommodate Buy-backs.

A new ‘Valuation Type’ field has been added to distinguish between Repurchase Agreements and Buy-backs.

For Buy-backs, income accrues at the same rate as the underlying asset (which can be a Bond, Inflation Linked Bond or Floating Rate Bond). The profit or loss is determined by the difference between the sale and maturity transactions less the accrual.

CDM

Database views are now automatically generated when entity templates are created or modified, simplifying access to CDM data for custom reports and other operations.

A script has been included as part of this release to create views for existing CDM entities, please note that the views still need to be authorised afterwards.

Alternate Code

A new feature has been added that allows you to specify a Code Identifier Type in Raw Prices, enabling FPM to look up instruments based on their alternate codes.

The Code Identifier Type can be used to look up an instrument based on existing fields ISIN, SEDOL, BLOOMBERG, ALTERNATE and CODE. If this field is not specified, it will default to CODE.

Further to the above a new Alternate Code (FIGI) has been added to the Classifications and Alternate Codes Instrument Static.

Market Data

The Delta, Volatility, and Exposure Price fields have been updated to accommodate 6 decimal places, ensuring alignment with SAFEX standards.

Price Import

A warning has been added to the import log when using the old Prices import. While the import process still functions by redirecting data to the Raw Price import, it is recommended not to use it, as it does not have the advanced features of the Raw Price import.

Cash accrual

In the event of deadlocks during cash accrual processing, a more detailed message will now be displayed to the user.

Report - PH-HOLD

New options, Weighted Time to Maturity and Maturity Profile Group, have been added to the PH-HOLD report.

Reports

A new report ‘Distribution List Details' has been added. This report allows you to extract the email addresses associated with each distribution list.

Repurchase Agreement user documentation has been updated to include Buy-backs and is available on the FPM Documentation website. https://docs.fundamental.net/#/doc/59/carry_

For a comprehensive list of changes included in this release (2024.3.2), please refer to the release notes website.