Overview

Any result/incident that requires a user to perform an action automatically generates a task in the FundApps system. 

All tasks are associated with a specific NAV date and a deadline for completion. To view all tasks generated by FundApps on a specific NAV date, the Results screen is the place to go. However, if you want to see an overview of all outstanding tasks, simply navigate to Results > Tasks.

When the FundApps engine processes a positions file, it generates a span of different result types. Not all result types will create a task in Tasks. Only the following result types will be generated as tasks:

• • • Disclosures 
    • Breaches
    • Rules pending approval 

In addition to the tasks created by the different result types, we also release FundApps tasks into our clients' environments (e.g. re-running an end-of-quarter positions file after the release of the latest SEC 13F securities list).

The first five items in Tasks will be displayed on the main Dashboard in the following order: Rules pending approval > Breaches > Disclosures. To view all outstanding tasks, either click See All or go through the Results dropdown as shown below.

Using the Task List

The list is a cumulative of all open tasks in the system. This means that until a task has been closed, it will be on the list, prompting the user to take action.

The list is ordered based on the deadline. The shortest deadline will be displayed at the top. Some tasks do not have a deadline or have an unknown deadline, and these will always be at the top of the list. The following rules will generate results with an unknown due date:

• • • Issuer Limits Disclosures
    • Short Selling Breaches
    • FundApps Control Rules

The assigned user is displayed next to each individual task. Further, the user has the ability to filter the tasks via the filter menu.

Everyday Use of the Task List

In order to use the list most effectively, we strongly recommend the following approach:

1. Monitor

All users should periodically monitor Tasks page and the main Dashboard for any new action items. 

2. Assign

Any new task should be first assigned to the appropriate user. This allows delegation and clear lines of responsibility in audit trails. The comment function is useful for providing clear communication to other colleagues who oversee the disclosure in question.

3. Investigate

Once assigned, the task should be investigated before any action is taken, e.g. the rule and the assets in question should be scrutinised before a disclosure is made:

This usually involves analysing the rule or assets involved. For more in-depth analysis, the aosphere memo should be read and can be accessed via the Legal Source button found in the upper right corner of every Rules details page.

4. Action

Based on the investigation, the assignee should "Accept" (disclose) or "Reject" the task.

Importance of Maintaining Your Task List

The Tasks page should be used as a to-do list for FundApps users. It is critical that tasks are not ignored or sidelined. Being inundated with tasks could result in missed disclosures. As such, all tasks should be taken seriously and addressed one way or the other.

Should FundApps trigger a conservative disclosure that the user does not intend to disclose, we would strongly advise that the disclosure alert be marked as "Rejected", which will also close the task. 

We always advise that by the end of each working day, all tasks should be addressed. 

Should you find yourself unclear about any of the above, please feel free to contact FundApps Support.