Overview
FundApps will display either an empty assets table when an existing position is sold out. This can also happen when a position governed by the Short Selling Regulation (SSR) becomes net long or when key properties, like MarketsListedIn, change.
Out of Scope vs Sold Out Assets
A Show Sold Assets toggle will display any time there are "sold out" assets, including when the result has changed because of a "sold out" asset.
It’s important to note that this does not show anything about the assets in the current file upload, so it’s possible those assets are still held today (but are now out of the rule's scope) or that new out-of-scope assets are held. Instead, the table shows the assets that were in yesterday's result, with the quantity set down to zero. While this is a good way to identify which assets have fallen out of scope, it doesn't confirm what has changed about those assets.
Those assets may have truly been sold. But they could also have fallen out of scope for the rule. If there is ever any confusion, check the assets aggregated for the relevant entity by navigating to the Entity Assets page.
Data Management > Portfolios & Entities > Last Data
Please make sure to select the correct date once on the Entity Assets page, choose the appropriate aggregation structure for the rule in question, and set the filter option to Include Lookthroughs (if the rule includes lookthroughs).
An Example
Day 1:
The result is a net short position under the SSR EU Equity: Finland rule, with only one asset.
Day 2:
The next day, a zero-value result is generated for this issuer. However, the short asset is still being held, but a new long position was recently added, making them net long now.
Day 3:
The client was back to net short with a long asset also present.
On Day 2, the asset table for the result did not show the long assets because they were not in the Day 1 result.
Portfolios & Entities Screen Showing Day 1 Gross Position
Portfolios & Entities Screen Showing Day 2 Gross Position
Portfolios & Entities Screen Showing Day 3 Gross Position
The Entity Assets via the Portfolios & Entities page is an important tool for verifying a position. If there was any confusion regarding why the zero result was triggered, the net long position would have been confirmed on Day 2 in the above example.