This article explains how the results within FundApps can be impacted by the re-running of a positions file and covers three sections:

Results in FundApps work on a day-to-day basis and will be updated with any changes in the data being uploaded. You can upload positions files for the same NAV date multiple times to correct data discrepancies or update your results if required.

It is important to understand how FundApps works when uploading updated data for the same NAV date and the effect this has on existing Results for that NAV date. We have listed the different scenarios and their respective outcomes below.

If a disclosure was triggered and closed (“marked as filed”) for a NAV date that is re-run afterwards and the result changes the holding % causing the result type (OK, Warning, Info) to change, it will trigger a completely new result. There will be no history of the previous disclosure for that NAV date that triggered before the re-run.

The new result will be treated as brand new and the status will be set to "Unassigned" and "Unactioned". This is considered entirely separate from the (now invisible) Disclosure that has been replaced. The same will apply for a disclosure that was triggered and closed but “rejected”.

Example: Disclosure triggered and Marked as Filed (RECTICEL)

Example: New Result: OK (RECTICEL change in value -0.5% to -0.1%) set unactioned

The above behaviour will apply to Disclosure results changing to Info and Warning results as well.

If a disclosure was triggered and closed (“marked as filed”) for a NAV date that is re-run afterwards where there is a change in the percent holding and the result is a disclosure with a different value, then this will re-open the disclosure (FundApps will show the status of the result as “Re-Opened”).

Example: RECTICEL Disclosure at -0.5% - status "Marked as Filed"

Example: RECTICEL Disclosure at -0.550 - status "Re-opened"

If a disclosure was triggered and left open (status: “disclosing”) for a NAV date that is re-run afterwards and the result is a disclosure with a different value, then this will still show as a disclosure but with the different value (FundApps will show the status of the result as “disclosing”).

Example: BMW AG Disclosure at -0.499% - status "Disclosing"

Example: BMW AG new Disclosure at -0.749% - status "Disclosing"

If a disclosure was triggered and left open (status: “unactioned”) for a NAV date that is re-run afterwards and the result is a disclosure with a different value, then this will still show as a disclosure but with the different value (FundApps will show the status of the result as “unactioned”).

Example: BMW AG new Disclosure at -0.499% - status "Unactioned"

Example: BMW AG new Disclosure at -0.699% - status "Unactioned"

If a result was manually converted to a disclosure (this functionality is available for rules such as 13D, Major Japan, etc.) and that NAV date is re-run, the converted disclosure result will revert to its prior result type (Warning, Info). To ensure accurate results, the desired result must be manually converted to a disclosure after every re-run of that NAV date's file.

Q. Would I see the previous disclosure result when the re-run has caused a new Result (Warning, Info, OK)?

A. No, the new file will overwrite the previous results. The count of different result types will change between uploads and this can also be checked in the email notifications listing the number of disclosures, unknowns, warnings, etc. for each file uploaded.

Q. What if I marked a disclosure as "filed", rerun the file and there is no change in value for this disclosure result. Would this re-open the disclosure?

A. No, there is no change in value so the disclosure will still be marked as filed. There will be no change to the result.