We are aware of a number of scenarios, detailed below, where the account transactional Uscan reports work in a particular way. This can affect some of the valuation, performance and return figures and charts within them.
When a fund is closed, or in the process of closing and making a series of payments in that process, the closure payments are affecting the outputs in the reports.
AVIVA Investors UK Property Feeder, Aegon Property Income Feeder, LF Equity Income and Quilter Investors Gilt Index are all examples of funds affected in some way by these issues.
Ahead of our migration to the new platform, we completed a few mergers on clients’ accounts where they held multiple ISA’s. This was to ensure these clients didn’t end up with multiple head accounts for each ISA on the new system.
Unfortunately, the ISA merger transaction from July 2019 is affecting the valuation vs payments in/out graph and money weighted returns. Those completed in March 2019 are unaffected.
Currently tax payments on pension income are being shown as a negative income in amount, rather than correctly as a payment out. This means the money weighted return on reports for clients paying tax on pension income will be affected, particularly where clients have taken one-off large income payments.
Reports for clients taking small, regular payments should be largely unaffected. Other tax payments, such as the Life Fund tax Charge on the Collective Investment Bond, may also be affected.
We are working hard to ensure you and your teams have the support available to quickly produce Uscan reports for clients in these scenarios and have our dedicated team in place to help.
Our dedicate team can be contacted via email at onlinecommunications@quilter.com. To enable us to produce Uscan reports for clients in the above scenarios, please can you provide the following information for each required report:
Logo: If you use a company logo, and already have one uploaded, then this will appear in the Uscan reports automatically
