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Suite
Pegasus asset management's product offers the operator an integrated
setting for client's portfolios analysis and management
Main
function provided by this product are:
-
Multiple-line
orders
-
Portfolio
models
-
Asset
management for Models
-
Asset
management customizable by client
-
Advanced
functions for line switch
-
Closing
procedures for orders agreements
-
Reports
for portfolio analysis
-
Management
of Portfolios'
limits
-
Details
of Management's constraints (securities, currencies, subdivisions)
-
Functions
of control for conflict of interests, unquoted securities, financial
leverage etc.
The
structure of the database includes:
-
Definition
of Investment
lines
-
Benchmark
definition
-
Parametric
reclassifications of financial instruments
-
Portfolio
Models
-
Definition
of operative
limits
Asset
Management accounts' structure allows to define:
-
Account's
holder data
-
Data
on
client's risk profile
-
Account's
general
limits (conflict of interest, unquoted securities,
type of financial instruments, etc.)
-
Enabled
lines of account management
-
Account
management binds and line limits
-
Management
account settlement
-
Settlement
account on derivatives' margins
-
Contractually
defined financial leverage
-
Capital
Accumulation Plans' settlement
-
Ordinary
account for Capital Accumulation Plans' management
Assets
management can be implemented by models, by line of investment or it can be customized
for the client.
Management
by model is a particularly powerful instrument that allows the operator a
great flexibility on portfolio strategies' definition.
The
model's structure is articulated on three levels: model's family
affiliation, securities subdivisions, details on securities associated to
each single division.
At
each level of the model it's possible to indicate the composition
percentage of each single component, priority on purchase or sale and
maximum
size of orders.
In
the model's composition can also be included the liquidity's component: in
this case the operator can always ensure a minimum level of liquidity in clients' portfolios.
The
operator can dynamically modify the structure of a model to quickly adapt
to Market requirements.
Assets management by line of investment allows to directly operate on
portfolios associated to a specific line, indicating the financial
instruments to be operating on, percentage of disinvestment (in case of
sale), percentage of liquidity (in case of purchase), the percentage to which to
bring a specific financial instrument in the clients'
portfolios.
Assets management customized by client allows to generate spedific orders
for each single client, like, for example, the automatic generation of a
plan of sale upon a disinvestment request or the automatic
investment of liquidity present on an ordinary account upon a
capital accumulation plan defined at order's management level.
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Typical
asset management utilizations are:
-
Opening
of an asset management account (subject to approval by the operator)
-
Euro/foreign
currencies assignment
-
Euro/foreign
currencies withdrawal
-
Securities
assignment
-
Securities
disinvestment
-
Line
switch requests
-
Management
account closure requests
line
switch
This
function allows complete automation of a line switch in a multi-line asset
management account.
portfolio
analysis reporting
Principal functions
of analysis are:
-
Portfolio
status in various levels of aggregation
-
Analysis
of portfolio's variance from models
-
Performance
analysis inclusive of variance from benchmark
-
Analysisi
of portfolio structure by line/model
-
Asset
consistency by line, model, branch.
-
Reports
with parametric aggregations
Main
control functions are:
-
Non-operative
orders status
-
Control
of management ties
-
Control
list of overdrawn liquidity
-
Control
list for overdrawn securities
-
Control
list on utilization of financial leverage
-
Operative
limits control
-
Unquoted
securities verification
-
Limits
verification on securities in conflict of interest
-
Loss
notifications.
This
procedure allows to structure a process of closure of a management account: a very interesting feature is the management by phases
that allows to manage "in parallel" the closing of multiple management
accounts.
Main phases are:
-
Closure
reservation by the client
-
Calculation
and charge of fixed commissions
-
Calculation
and charge of commissions over performance
-
Pre-requisites
check
-
Settlement
of interests for account management
-
27%
witholding on current account interests
-
Simulated
calculation and charge of capital gain
-
Final
withdrawal of liquidity
-
Order
closure
-
Certification
of possible Capital loss
-
Consob
Statement of account closure
recurring
quarterly closing
Main
phases are:
-
Quarterly
portfolio consolidation
-
Simulated
calculation and charge of fixed commissions
-
Consob
statement of account
yearly
closings
Main
phases are:
-
Quarterly
portfolio consolidation
-
Simulated
calculation and commision charges over performance
-
27%
witholding on current account accruals
-
Simulation
and charge of yearly capital gain
-
Year-end Consob Statement of account
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