There are 2 different concepts:
Overview
- Test portfolios – where clients can upload and test whatever date they wish.
- Sandbox portfolios – Funds-Axis maintained sandbox portfolios specific case studies and documented results.
Here we consider Test Portfolios.
Test portfolios can easily be set up and used.
Every environment is set up with a standard set of test portfolios for the “Ceres_Group”. This standard set-up is summarised in the Appendix.
These are already set-up. However the files for creating these / amending these or adding additional portfolios can be found here:
- Ceres_Organisations
- Ceres_Portfolios
- Ceres_Shareclasses
Key Steps:
- Set up the user –
– It may be preferable to use an email alias that just has access to these Portfolios, separated from BAU activity
– The User should not be given more permission that set out in the client license or otherwise agreed. - Apply the User to the “Ceres_All” User Group.
- Apply the required Rule Groups and Rules to the relevant portfolios.
- Upload Holdings and NAVs which utilises the Portfolio Codes below and with the required dates, along with any required securities and issuers files and exchange rates (see below).
- Process the Calculations for the relevant portfolios and dates.
- Process the Rules for the relevant portfolios and dates.
Holdings and NAV files
Clients can create their own holdings and NAV files to upload against these Test Portfolios. Two easy approaches are:
- Use your current holdings and NAV file templates but create new portfolios with the Ceres test Portfolio codes. Note: these will need to be subjected to any standard ETL automation and upload processes that the client standard Holdings and NAV files are subjected to.
- Use the Funds-Axis standard templates for holdings and NAV upload:
– HW_Holdings
– HW_NAV
Fx rates files
An FX rates file will be required for any days on which test holdings data is uploaded.
New securities
If the securities in the Test Portfolios are already in the system, then no new security and issuers will be required. If there are new securities and issuers, then these will need to be requested and added to the security and issuer file and then uploaded for the relevant dates.
Billing
There is no additional cost for the use of ad-hoc test portfolios where the client take responsibility for processing and testing.
This is subject to a fair usage policy.
If data is being uploaded daily and calculations and rules being processed daily, then these will become chargeable. This would not be considered fair usage.
Any additional data costs will also be chargeable.
Test Portfolios are intended for client use by the client themselves and with little or no interaction from Funds-Axis. This should work smoothly so long as files are in the standard format and the securities are already available in the system.
Funds-Axis can assist with quick file upload, application of rules, processing of calculations and rules, if necessary. However, ideally the client will do these aspects themselves and if files are sent to the sFTP they should upload.
If Funds-Axis support is required which is more than minimal support we will need to charge for it, including for any required derivative set up, new governance required, new rules required, data quality checks, queries etc. The client should not be expecting Funds-Axis to be performing the CIS research and other asset eligibility checks on these portfolios.
Where this additional support is required, this will be chargeable and agreed before the testing begins.
Fair Usage
The below outlines what is considered as fair usage:
Files delivered in Client/Admin standard format or Funds axis templates where there is little to no manual intervention from Funds-Axis.
Maximum of 4 funds per month and funds should go live within 90 days from the date or testing.
Appendix
The Ceres Test Portfolios are set-up as follows:
| User Group | Ceres_All |
| Portfolio Permission Group | Ceres_All |
| Group | Ceres_Group |
| Manager | Ceres_AM |
| Legal Entity | Ceres_Sicav |
| Portfolios | Ceres1 Ceres2 Ceres3 |
| Data Batch | Ceres_Databatch |
| Rules Processing Batch | Ceres_Rulesbatch |
| Notes: \ To upload organisation and portfolios, use the files - Ceres_Organisations - Ceres_Portfolios \ No holdings, Navs, Shareclass prices etc are uploaded as standard. \ Shareclasses are not needed for investment compliance, leverage, etc. \ No rules / rules batches are applied as standard. |
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