Overview
Clients can often encounter difficulties sourcing certain data points. Where possible, we recommend these be resolved at source (either within your positions file or by contacting your data provider). However, in cases where this is not possible, we have created a Data Override function that can be used to amend or input data directly within the system.
Please note that after setting up an override, you will need to re-run the positions file in order for the override to be applied to your data. Additionally, when setting up data overrides, please ensure that you are using the correct data type that is applicable to the specific property being overridden. For instance, if a property requires a decimal value, verify that the override is populated accordingly and follows our formatting guidelines.
The overrides page can be accessed by selecting the Admin section in the upper right and navigating via the "Setup" dropdown to "Data Overrides."
Step 1: Selecting the Condition Property
The condition property is used to identify the security for which you want to make the change. It needs to be of the same property class as the target property. In the example below, I am overriding the TotalSharesOutstanding property and have selected IssuerID as my condition property because TotalSharesOutstanding is an issuer property. Property classifications for Shareholding Disclosure can be found here, while property classifications for Position Limits can be found here.
If you'd like the override to apply to all securities that may be missing a common property, you can enable the Always Apply option.
Step 2: Setting up the Target Property
The target property is that which you are seeking to update the value for. Upon setting your target property there are several sections you need to complete in order to fully create the override as outlined below:
When Target Property Is...
This section indicates when you'd like to have the property apply. There are 3 options:
Missing or Empty - This fills in the property with the new value only when it is missing or empty within your positions file. If you are sending a value in the positions file, the system will prioritize that over the value created in the override. Where possible, we recommend this as it is the most conservative option.
A Custom Fixed Value - This allows you to fill in a specific value you want to override. For example, if you only want to override the TotalSharesOutstanding property when it comes in as 1, you would select this option, and enter 1 in the corresponding field. It's important to note that the system matches on the exact value of the string in your input file.
Any Value - This option will cause the override value to take precedence over any sent via the positions file. It is the least conservative option.
Then Target Property Will Be.....
This section determines the value you'd like to use for the override. There are 3 options:
Filled with a Fixed Value - This option allows you to fill in an exact value that will be applied.
Filled with Another Property - This option allows you to use an existing value from another property. For example, if you had blank values for the property MarketsListedIn and wanted to use the value coming in for the Market property, you could select this option. For the relevant securities, the system would then copy the value from the Market property into the MarketsListedIn property.
Removed - Sometimes things go wrong and you need to set a value to empty. This option allows you to remove data from the system for a given property.
Step 2B: Overriding Multiple Properties in a Single Override
We have now added functionality to allow for the overriding of multiple properties within a single entry. By clicking the link highlighted in red in the above photo, it will create a secondary dropdown, allowing you to enter additional target properties. Please note, these will need to be of the same classification as any other target properties setup in the individual override entry.
Step 3: Setting Active Dates
As a key part of environment hygiene, we recommend setting end dates on your overrides. By setting an end date, the system will prompt you to review the override in advance of it's expiration. This acts as a reminder for you to determine whether the override is still accurate or necessary. Leaving a blank "To NavDate" will cause the override to apply in perpetuity.
Important: The From and To Date apply to the NavDate in the file uploaded, NOT the current date, so ensure that the From Date is before the NavDate, if you are uploading an old file.
Step 4: Creating Notes
We have also provided a notes section, which allows our clients to maintain an audit trail, documenting the reason for setting the override and any other relevant details. We recommend filling this section in to ensure anyone reviewing the override in the future can understand the details behind why it was setup.
Seeing When Overrides Were Used
In the Results details screen, any properties where an override has taken effect are highlighted in blue. The original value that was provided is also displayed if you hover your mouse over the property.
Additionally, you can view the column of the data overrides table titled "Last NAV Date" to see when an override was last applied.
Enabling / Disabling Overrides
In all cases when creating overrides you can select a specific From and To date as a period for the override to be active in. As noted previously, setting an end date will cause the override to expire once that date has passed.
Alternatively, you can leave overrides without a ‘To Date’ and manually enable and disable them by unclicking the "Is the Override Currently Active" box.
Overrides can be also deleted individually and in bulk from the main menu as well as filtered depending on their current status. This can be done by selecting the overrides you want to delete and selecting the delete option in the upper right side.
For more information on managing data overrides, please click here.
Important: FundApps does not guarantee the order in which data overrides are run, so please ensure there are no duplicates or dependencies in your overrides.
Creating multiple overrides via CSV file upload
In addition to adding or amending your data overrides via the UI, you may create or amend new ones via a CSV file. This is explained in detail here.