Portfolio Redemptions

Overview of IL706

Portfolio payouts - whether they are redemptions, withdrawals or sales - must be done through cash processing. To process:

• From the DDI-Connect main menu, double-click Financial Services

• Double-click Cash Receipts Stage 1

• Enter a new item in an existing batch (or create a new batch) for the amount of the withdrawal or payout. For information on how to enter a new batch, please reference this page: Cash Processing Stage 1

• When the item is entered, go to Financial Services and double-click Data Processing

• Double-click Payment Processing (Stage 2)

• Locate the batch that contains the payout for the portfolio. Click once to highlight it - this will display the items in the Detail area of the screen:

• Double-click the transaction in question. This activates the Transactions tab:

• Double-click Portfolio Transactions. This displays the Portfolio sub-menu:

• Double-click Portfolio Redemption/Sale. This launches the Portfolio Redemption/Sale screen:

• In the Portfolio field, type the number for the portfolio you are processing the transaction for. You can also click the list icon to display a list of all portfolios in the system, or you can click the binoculars to search for a particular portfolio

• Once the number is entered, press enter or click Find. This activates the fields for modification:

As you can see, the system automatically calculates the number of units sold and the face amount, based on the cash received. That field is populated from the amount in the cash processing.

Review the fields to ensure that all of the information is correct. If it is, click Save. You will see this message: