The Conversion module allows users to move an investors entire unit balance from one offering to another in the form of a Conversion Out and Conversion In transaction.
Select the Transactions Module on the left side of your screen
Select + Create Batch Securities
Select + Create New Batch
What type of transaction is this?
Select “Conversion Transfer” from the drop down menu
From Offering
Select the applicable offering that is having the units transfer out from.
To Offering
Select the applicable offering that is having the units transferred into.
Click the Next Step button
Status of Transaction
Select which status the transaction(s) should be in to be included in the batch from the drop down menu
Requested Date
Select the date from the calendar or by manually entering the date (default is the current date)
Approved Date
Select the date from the calendar or by manually entering the date (optional)
Closed / Settlement Date
Select the date from the calendar or by manually entering the date
Confirmation Instruction
Select from the drop down menu. Please note: confirmations are not sent until the transaction closes.
Dealer Role
Select from the drop down menu (default is “Agent”)
Show On Statement
Choose whether to show the transaction on the statement or not (default is “YES”)
From Value/Unit
Select the Value/Unit of the Conversion Out transaction
Text box is pre-filled if “Use CMV” or “Use PPU” are selected, but can be changed if you select the 'Custom' option
To Value/Unit
Select the Value/Unit of the Conversion In transaction
Text box is pre-filled if “Use CMV” or “Use PPU” are selected, but can be changed if you select the 'Custom' option
Click on the Create Batch button
The batch will be queued and appear as “Pending” in the Batches screen under “Transaction Batches”
Refresh to check the status, and click the eye symbol once the status is “Draft”
Edit Transaction Batch (if any changes or updates are required)
The batch may be edited by clicking the Edit button
Scroll down to the “Transaction Batch Listing” if no changes are required
Transaction Batch Listing
Review the conversion transaction details. The units or Cost/Unit cannot be edited in the this table, if changes need to be made then the batch should be recreated.
If the details are correct, select to import the conversion for each investor or select “All” above if all investors will be included.
Scroll up and select Start Batch Process when ready, or Cancel Batch to delete the batch
Click on the Start Batch Process button
The batch will be queued and appear as “Scheduled” in the Batches screen under “Transaction Batches”
Refresh to check the status. Batch will appear as “Complete” under “Processed Transaction Batches” when completed and be assigned a batch number
Click the batch number to review the transaction results
Please note, from a performance calculation standpoint Conversion transactions are treated in the exact same way as a transfer.