Revaluing managed investments, shares and securities 108-04090050

• Yes, go to Step 1 in Table 2
• No, and an MFU activity exists on the customer record, go to Step 2

For unlisted managed investments, see Managed investments - updating existing investments, Process Direct, Step 9 in Initial contact and coding table. Procedure ends here.

For unlisted shares and securities, go to Step 3.

MFU activities for unlisted shares and securities show as an Unlisted share review - General work item with keyword PNSIUSRV. Work item notes recorded on the Shares Summary Unlisted Securities (SIUS) screen, will confirm the company name.

• Use Super Key to go to screens
• Key 'START' and select Income and Assets Update from the task selector
• Select Shares from the task selector options
• Select Start to initiate the Change of Circumstance flow
• The Investments Summary (SIS) screen will display
• Select the relevant unlisted shares and securities on SIS to go to SIUS. For:
• credit union and/or building society member shares, go to Step 4
• unlisted share and securities, go to Step 5
• private company shares, go to Step 8

Note: do not record private company shares on SIUS. These are assessed on the company record by a Complex Assessment Officer (CAO). To check if a company is public or private, search ABN Lookup or ASIC Connect.

Credit union and/or building society shares recorded on SIUS, should be transferred to Savings and Direct Investments (SVDI).

• To update SIUS:
• select to expand share details
• on the Shares Summary Unlisted Securities Details line, select to open the Create Shares Summary Listed Securities Details
• update the Number of Shares field to zero (do not delete)
• check the New home deduction amount $. If it has an entry, update it to zero
• code Event Date (DOV): (the date the MFU activity is being completed)
• select Save and repeat until all updates are completed

Note: do not use the 'delete' function unless the customer and/or partner never owned the shares listed on their record.

• To update SVDI:
• see Coding income and assets for Centrelink payments and services in Process, Table 1, Step 1
• code Event Date (the date the MFU activity is being completed)
• ensure any Loan/Encumbrance amounts are reflected on the SVDI screen
• ensure any New home deduction amounts are reflected on the SVDI screen
• If there are other unlisted shares and securities, go to Step 5
• To finalise the MFU review activity, go to Step 10

Some shares are temporarily coded on SIUS until the ASX code is added to the Shares Summary Listed Securities (SILS) screen.

Is the ASX code available on the Select Product (SIP) screen?

• Yes,
• zero the 'Total Asset Value' on the SIUS screen, see Updating shares and securities, Step 5 in Coding shares and securities in Process Direct table
• check the New home deduction amount $. if this has an entry, update it to zero
• Event Date is the date the MFU review activity is being completed
• add the investment product to SILS, see Step 1 in Table 2 on the Process Direct subtab
• go to Step 10 to finalise the MFU review activity
• No, go to Step 6

MFU share review requiring an updated price.

Check if the share is listed on any of the following FINS bulletin pages. The most common share types coded on SIUS are ETF’s (exchange traded funds), Bendigo Bank Community Shares, or Delisted Shares. These share prices can be obtained using the last traded price or MFU date price from the following FINS bulletin pages:

• Bendigo Community Banks
• Exchange Traded Funds
• Australian Stock Exchange (ASX) Company Changes and Delisting
• Public Unlisted Shares

Is the unlisted share value available on the FINS Bulletin?

• Yes, go to Step 7
• No, see Adding shares and securities, Process, Table 1, Step 8 (More information needed for unlisted Australian public company shares) and follow the instructions. Procedure ends here

Follow the instructions on the Public Unlisted Shares page or request FINS Helpdesk advice to update the unlisted share value on SIUS, see Updating shares and securities, Customer First table, Step 8 (Coding shares and securities).

Event Date is the date the MFU review activity is being completed.

Note: multiply the number of shares owned by the new share price to determine the Total Asset Value.

If the number of shares owned is not recorded in the Product field, check prior DOCs and scans for this information.

If these details are not available on the customer's record:

• contact the customer by phone and confirm the number of shares owned, and
• add the information to the Product field for future reviews

Go to Step 10 to finalise the MFU review activity.

Check the Link Summary (LS) screen to see if the customer is linked to the private company.

If the customer is:

• already linked to the private company record, go to Step 9
• not linked to the private company, check earlier DOCs and scanned images on the customer's record. Has a MOD PC for the private company been provided?
• Yes, go to Step 9
• No, make 2 genuine attempts to contact the customer to discuss the issue. Send a Request for Information for a completed MOD PC. See Requesting information (CLK).
  Once the MOD PC is provided, go to Step 9

Make a CAO referral and include notes to advise:

• company shares are incorrectly coded on SIUS, and
• CAO assessment and SIUS correction are required

Finalise the MFU review.

Add to Notes 'private company shares incorrectly coded on SIUS - referred to CAO'.

Procedure ends here.

Once all updates are completed:

• select Assess
• check the payment outcome on Entitlements (ELD)
• select Finish
• if the Process Direct Income and Assets workflow was used, Notes will pre-fill and display for review
• add any extra details as per Online Document Recording (ODR)
• select Finalise

The transaction will complete and Notes will copy to the Document List (DL).

Procedure ends here.

If the automatic bulk update for 20 March or 20 September has been loaded onto the customer's record, it shows an Event Date in the future.

For example:

• today's date is 15 March, and
• the Event Date for the investment shows 20 March

In these cases, the workaround for MIS/SIS updates immediately prior to 20 March or 20 September must be followed.

If the customer is:

• asking for a revaluation only, a trial assessment is available in Customer First or Customer Record. See Table 2 Step 1 of Customer First subtab for instructions
• advising details have changed, for example some units or shares have been sold, see:
• Updating shares and securities, or
• Managed investments - updating existing investments

• Yes, see Step 1 in Table 2
• No, and an MFU activity exists on the customer record, go to Step 2

For unlisted managed investments, see Managed investments – updating existing investments Customer First process Step 9 in Initial contact and coding table. Procedure ends here.

For unlisted shares and securities, go to Step 3.

MFU activities for unlisted shares and securities are listed as an Unlisted share review-General work item with keyword PNSIUSRV. Work item notes will confirm the company name, as recorded on the Shares Summary Unlisted Securities (SIUS) screen.

Select the relevant unlisted shares and securities on the Securities and Investments Summary (SIS) screen, to go to SIUS.

• For credit union and/or building society member shares, go to Step 4
• For unlisted shares and securities, go to Step 5
• For private company shares, go to Step 8

Note: private company shares should not be recorded on SIUS. These are assessed on the company record by a Complex Assessment Officer (CAO). To check if a company is public or private, search for the company on ABN Lookup or ASIC Connect.

Credit union and/or building society shares recorded on SIUS should be transferred to Savings and Direct Investments (SVDI).

• To update SIUS:
• Total Asset Value: update to zero (do not delete)
• Annual income: update to zero (if any income keyed)
• check the New home deduction amount $. If it has an entry, update it to zero
• Event Date: is the date the MFU review activity is being completed

Note: do not use the delete function unless the customer and/or partner never owned the shares listed on their record.

• To update SVDI, see Table 3 Step 3 in the Customer First subtab of Coding income and assets for Centrelink payments and services
• Event Date is the date of the update for the MFU review activity
• ensure any Loan/Encumbrance amounts are reflected on the SVDI screen
• ensure any New home deduction amounts are reflected on the SVDI screen

If there are other unlisted shares and securities, go to Step 5, otherwise finalise the MFU review activity.

Procedure ends here.

Some shares are temporarily coded on SIUS until the ASX code is added to the Shares Summary Listed Securities (SILS) screen.

Is the ASX code available on the Select Product (SIP) screen?

• Yes:
• zero Total Asset Value on SIUS, see Updating shares and securities Step 8 in Coding shares and securities in Customer First table
• check the New home deduction amount $. if it has an entry, update it to zero
• Event Date is the date the MFU review activity is being completed
• add the investment product to SILS, see Table 2 Step 1 in the Customer First subtab of Adding shares and securities
• finalise the MFU review activity. Procedure ends here
• No, go to Step 6

MFU share review requiring an updated price.

Check if the share is listed on any of the following FINS bulletin pages. The most common share types coded on SIUS are ETF’s (exchange traded funds), Bendigo Bank Community Shares, or Delisted Shares. These share prices can be obtained using the last traded price or MFU date price from the following FINS bulletin pages:

• Bendigo Community Banks
• Exchange Traded Funds
• Australian Stock Exchange (ASX) Company Changes and Delisting
• Public Unlisted Shares

Is the unlisted share value available on the FINS Bulletin?

• Yes, go to Step 7
• No, see Adding shares and securities, Process, Table 1, Step 8 (More information needed for unlisted Australian public company shares) and follow the instructions

Follow the instructions on the Public Unlisted Shares page or request FINS Helpdesk advice to update the unlisted share value on SIUS, see Updating shares and securities Step 8 in Coding shares and securities in Customer First table.

Event Date is the date the MFU review activity is being completed.

Note: multiply the number of shares owned by the new share price to determine the Total Asset Value.

If the number of shares owned is not recorded in the Product field, check prior DOCs and scans for this information:

• If these details are not available on the customer's record, contact the customer by phone and confirm the number of shares owned
• Once this information is available, add this to the Product field for future reviews

Finalise the MFU review activity.

Procedure ends here.

Check the Link Summary (LS) screen to see if the customer is linked to the private company.

Is the customer already linked to the private company record?

• Yes, go to Step 9
• No, check prior DOCs and scanned images to see if a MOD PC for the private company has been provided
• If a MOD PC for the private company has been provided, go to Step 9
• If a MOD PC has not been provided, make 2 genuine attempts to contact the customer to explain the issue
• Send a request for information to the customer for a completed MOD PC. See Requesting information (CLK). Once the MOD PC is provided, go to Step 9

Make a CAO referral and include notes to advise company shares incorrectly coded on SIUS. CAO assessment and SIUS correction required.

Finalise the MFU review, adding in the notes 'private company shares incorrectly coded on SIUS – referred to CAO'.

Procedure ends here.

If the automatic bulk update for 20 March or 20 September has been loaded onto the customer's record, it will show an Event Date in the future.

For example:

• today's date is 15 March, and
• the Event Date for the investment shows 20 March

In these cases, the workaround for MIS/SIS updates immediately prior to 20 March or 20 September must be followed.

If the customer is:

• asking for a revaluation only, go to Step 2
• advising details have changed, for example some units or shares have been sold, see:
• Updating shares and securities, or
• Managed investments - updating existing investments

Tell the customer there is a bulk update of the value of all listed shares and unitised managed investments each March and September.

Does the customer want a revaluation of their shares now?

• Yes, go to Step 3
• No, procedure ends here

Tell the customer a revaluation will include all their listed shares and unitised managed investments. This may increase the asset value of their total investment portfolio.

Offer the customer a trial assessment of their managed investments and/or shares.

Does the customer want a trial assessment?

• Yes, go to Step 4
• No, go to Step 6

In Customer First or Customer Record go to either the:

Managed Investments Summary (MIS) or Shares and Investments Summary (SIS) screens.

Make a note of the value of the managed investments or shares. Enter:

• 'Y' in the Calculate field
• the date of event in the Event Date field
• 'Y' in the Trial field
• the appropriate code in the Source field
• the date of receipt in the DOR field
• select Continue

Compare the updated values to the previous values. Tell the customer the outcome.

Does the customer want a revaluation of their shares and managed investments?

• Yes, go to Step 5
• No:
• go to the Activity List (AL) screen
• delete (D) the trial activity
• select Continue
• confirm cancel activity
• go to Step 8

On the MIS/SIS screens, complete fields as per previous trial assessment but enter 'N' in the Trial field.

This converts the trial activity into a normal activity. Finalise the activity on the Assessment Results (AR) screen.

Complete the recalculation.

Go to either the MIS or SIS screens in the customer's record.

• Key 'Y' in the Calculation field
• Complete the Source and DOR fields
• Select Continue
• Complete the activity on the AR screen

The system recalculates the asset value on all the customer's listed shares and unitised managed funds. The current values from the Managed Investments (MIN) and Securities and Investments (SIN) databases are used. The deemed income also updates.

Record details on a DOC.