APL UMA Submanager (Contents, Download)

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There are two versions of UMA addressed in this document:

• Traditional UMA

  • The Tegra118 Unified Managed Accounts (UMA) platform is a wealth management platform that enables users to maintain multiple investment vehicles such as Separately Managed Accounts (SMAs), mutual funds, and Electronically Traded Funds (ETFs) under one registration based on a target asset allocation. The platform’s overlay management capabilities enables users to monitor drift, trade, rebalance, calculate performance, and provide reporting at both the total account and sleeve level.

• Managed Account Platform

  • Under the managed account platform, Mutual Fund Advisory (MFA) products are integrated with UMA in a separate sleeve. The features that are available to traditional MFA clients are available here, so that clients can manage UMA and MFA accounts on a single platform.

Table of Contents

• Chapter 1: About This Document
  • 1.1 Traditional vs. Managed Account Platform
  • 1.2 What you need to use Unified Managed Account

• Chapter 2: Overview
  • 2.1 Unified Managed Accounts (UMA)
    • Master Manager
    • Submanager
  • 2.2 What is MSP?
  • 2.3 What is Mutual Fund Advisory?
  • 2.4 What is Single Sleeve MFA?
  • 2.5 What is APL?
  • 2.6 What is MMS?

• Chapter 3: Managed Account Platform
  • 3.1 Access Single Sleeve MFA
  • 3.2 Sleeve Tags

• Chapter 4: Unified Managed Account Portfolio Concepts
  • 4.1 UMA product overview
  • 4.2 Roles in UMA management
  • 4.3 Managing multiple strategy portfolios
  • 4.4 Opening new UMA accounts
    • Setting account parameters
    • Periodic rebalancing
    • Managing UMA accounts
  • 4.5 Nightly Rebalancing
    • Reporting
    • Performance Reporting

• Chapter 5: Submanager Functions
  • 5.1 Model Maintenance menu
    • Editing and creating submodels
    • Edit submodel descriptions
    • Importing an APL model
    • Editing a UMA-to-APL model map
    • Importing multiple APL models
    • Updating submodels mapped to APL models
    • Identifying accounts that hold zero shares of a security
    • View Submodel Attributes
  • 5.2 Trading functions
    • Liquidating Model Securities via LSF Day 1 from Sub Manager
    • Tax-aware filters
    • TBA Swap Trading Tool
    • Strategy Rebalancer function
    • MSP What-if Function
    • Using the Supertick function to trade a group of TBAs
    • MSP Multi What-if
    • MSP Account Adjuster
    • Block Status function
    • Swap fixed income securities
    • Automatically tagging trades created in Galaxy as UMA trades
    • Checking Block for Violations during Commit Process
  • 5.3 Reports
    • Portfolio Valuation Report
    • Transaction Activity Report
    • Audit Report
    • Tax Lot Holdings Report
    • Relative Weightings by Submodel Report
    • Historical Performance Analysis Report
    • Daily Blotter Report
    • 13F Report
    • Assets By Industry Report
    • Asset Mix By Account Report
    • Cash Balances By Account Report
    • Cash Transaction Report
    • Cash Ledger Report
    • Cross Reference By Security Report
    • Cross Reference by ISSTY Report
    • Audit general ledger transactions for missing or invalid submodel codes (MSPGLAUDIT)
    • Viewing performance data using the FASTPMSECT Report
    • Submanager AIMRMEMO Report
    • Generating the Fixed Income Screen Report in our Windows
    • Security Drift Report
    • DURPORT Fixed Income Summary Report
    • Yield/Duration Net of Commits Report
    • Top Holdings Report
    • Restrictions Override (RESTOVERLEG) Report
  • 5.4 Report functions

• Chapter 6: Cash Management
  • Cash allocation to submodels by the master manager
  • Submodel cash allocation method
  • Negative cash flows
  • How to avoid a negative cash balance for a sleeve
  • Cash allocation to the submodels using the Strategy Rebalancer at the master manager level
  • 6.1 Intraday trading limitations on submodels
  • 6.2 Intraday Cash Adjuster
    • General Work Flow
    • Account Selection
    • Add Cash Adjustment
    • Upload Cash Adjustments
    • Edit or Delete Cash Adjustments
    • Trade Cash Adjustments
    • Intraday Cash Adjuster Trading Results Reports
  • 6.3 Prorating Cash
    • UMA submodel cash calculation for historical performance and reporting
    • Calculating flows between submodels
    • Enabling a different cash calculation start date
    • Intraday master model changes (submodel adding/deleting)
  • 6.4 Using Restriction at Sleeve or Account Level
    • Restriction Method Options
    • Account Level
    • Sleeve Level
    • View Submodel Attributes
    • Trading Reports

• Appendix A: How tax rules are applied
  • A.1 Application of tax rules based on selection