View model weights

To view current model weights:

  1. Log in to the Model Manager Portal
  2. Search for the relevant model using the universal search bar at the top of the page
  3. The model weights are displayed on the individual model page.

Important information:

  • You can see information provided on each asset’s static and dynamic weights.
  • Dynamic (drifted) weights provided are calculated off the closing prices of the previous business day. 
  • You can download a copy of the model’s static and drifted weights using the download icon on the top right-hand side. 

Update model weights

Model changes are any changes in the model weights that are not accounted for by drift. This may include:

  • the entry and exit of positions
  • rebalancing of positions 
  • a trim or addition of current holdings. 

To update your model weights you will need to:

  1. complete a .csv template
  2. upload this template into the portal
  3. review and approve the model. 

Completing the .csv template

Please complete the model change template to update any current weights. You can download this template from Adviser tools by searching for Model Manager Portal weights template.

Securities added to models need to be in the appropriate investment menu as per current requirements. This will be automatically validated in the upload process:

  • If the model is available for both super and IDPS, all Managed Funds and equities must be available in the super menu
  • If the model is available for IDPS only, all Managed Funds must be available in the IDPS menu and all equities must be available in the super menu
  • Securities must be within limits as per current requirements (see ‘Validation of model portfolio amendments' below).

Please follow these template formatting guidelines:

  • Do not delete or add additional rows
  • Do not add additional columns
  • Cash allocations must be referred to as AUD under ‘Security Name’
  • Weights must be to two decimal places
  • The total sum of the weights must be equal to 100
  • The template must be uploaded in .csv format.

Uploading the csv template

 
  1. Log in to the Model Manager Portal
  2. Search for the relevant model using the universal search bar at the top of the page
  3. On the model page, navigate to Composition and click the pencil icon in the top right-hand corner of the widget
  4. Upload your pre-completed .csv template and any commentary
  5. Click submit.

To approve a model weight change, another staff member will need to log in to the Model Manager Portal and: 

  1. On the dashboard, navigate to model updates for your review
  2. Click Get most urgent 
  3. Click the relevant case and approve or deny.

Important information:

You can provide special instructions when updating model weights in the comment section of the portal. There is a maximum of 600 characters. If your request exceeds this, or you’d like to discuss the instructions further, please email model.portfolios@macquarie.com or call an implementation team member.

If you’re rejecting a case, you can leave any relevant comments and this model change will be sent back to the individual who initially submitted the model change. 

Validation of model portfolio amendments

Before the model amendment request is sent to the Macquarie Implementation team, the Model Manager Portal will automatically conduct the following validations:

Security validations

  • If the model is available for both super and IDPS clients, all managed funds AND equities in the model amendment must be available on the super menu
  • If the model is available for IDPS clients only, all managed funds must be available in the IDPS menu, and all equities must be available on the super menu
  • Allocations to cash must be entered with security code ‘AUD’

Model weight validations

  • The security weights must total 100%
  • The security weights can’t have more than two decimal places. For example, a weight of 2.312% will be rejected, whereas a weight of 2.31% or 2.3% can be accepted
  • The security weights can’t have a weight of 0% or nil. To submit a model amendment with a full sell of an asset, you must not include this asset in the model composition.

Formatting validations

  • The file must be in .csv format
  • The file must have no additional coluns
  • Rows 1 and 2 can’t be deleted, and no additional rows can be added above the model weights.

Once the model update request has successfully been submitted, the Macquarie Implementation team will manually validate the cash and security weights against their respective limits for the model, as listed in the Sub-Advisory Agreement.

Implementation of model portfolio amendments

After submitting your updated model weights via the Model Manager Portal, the Implementation team will review and action as long as it’s submitted before the Managed Accounts trading deadlines.

ASX-listed assets have a trade plus two (T+2) settlement time period. However, ASX-listed assets can be contra-traded meaning that the proceeds from sell trades for ASX-listed securities can be used to settle buy trades on the same day. 

Managed funds settlement deadlines are dictated by the managed fund provider and can be found on the Macquarie Wrap website or in the relevant PDS. Managed fund orders can’t be contra-traded.

Advisers can check the price received for any client through reporting available via Wrap and Adviser Online.

Model go-live date 

Model portfolios will be available on the Model Manager Portal from the agreed ‘go-live’ date to view and update. Initial model portfolios are to be updated via the Model Manager Portal. 

Please note models will be validated against the relevant criteria.  

Rejections to model amendments

If your Managed Accounts model amendment was rejected, the Implementation team will contact you to provide detail on why it has failed.  

Some reasons may include:

  • breach of trustee limits 
  • holdings under the minimum holding side (ie breach of cash or stock minimums).

Cancel or amend a Managed Accounts model update

If you need to cancel of amend a Managed Accounts model request, please contact the Implementation team as soon as possible on model.portfolios@macquarie.com.

View pending cases

You can view up to 100 cases on the Model Manager Portal at any one time. 

To find your pending cases:

  1. Log in to Model Manager Portal
  2. On the dashboard, navigate to search case
  3. Here you can search for the case either by:
    • model ID
    • status.

Case statuses will appear as:

  • Pending Peer Review – A user has uploaded a model update and submitted the case. It’s now waiting for an alternative user with full access to review the model updat.
  • Pending Macquarie Review - A user with full access has reviewed the model update. It’s now sitting with the Implementation team to review and approve.
  • Model Approved - Updated – We’ve approved the model update submitted by the user. The update to the model is now live and should be seen upon portal refresh.
  • Withdrawn – The case was withdrawn by the submitter before being peer reviewed.
  • Rejected – The case was either rejected at peer review or at the Macquarie review stage. You can see at which stage this case was rejected by searching for this case and clicking on the case details. You’ll see a timeline of case actions on the left-hand side.

Withdraw a pending case

You can only withdraw a case if it’s in pending peer review. To withdraw a case:

  1. Log in to Model Manager Portal
  2. On the dashboard navigate to search case
  3. Search and click the case you want to withdraw.

It’s important to note that once the case has moved onto the pending Macquarie review stage, you can no longer withdraw it. Please contact your relationship manager at Macquarie.

Re-assign a pending case

Only the submitter or user assigned to the case can click the re-assign button.

When clicked, the case will be re-assigned back into the team queue to be picked up again by a user through the ‘get most urgent’ button. 

Trading and settlement deadlines

To ensure same-day processing of your Managed Accounts model update request, the trading cut-off times are:

  • Managed fund orders: 10am
  • Equity orders: 12pm

Please note that equity orders will be worked on market in line with available liquidity.  Some orders may take more than one trading session to be filled in full. 

Where a model update request is received after the daily cut-off time, the Implementation team will aim to process your request that same day on a best-efforts basis. For any urgent requests submitted past the cut-off time, please email the Implementation team at model.portfolios@macquarie.com.

Submitting trades if the Model Manager Portal is down

Please contact your business development manager or relationship manager to assist. If your trade is urgent, please email model.portfolios@macquarie.com. 

Add new securities to the APL

This varies per security and is covered in the Managed Account Implementation Guide which you can find in Adviser Tools > Managed Accounts Implementation Guide. 

Please email managedaccounts@macquarie.com for further information.

Corporate action elections for Managed Account models

Mandatory corporate actions are automatically reflected in client accounts once the respective changes are made by the custodian. 

For non-mandatory corporate actions offered on a pro-rata basis, the Implementation team will contact managers to seek their elections and advise a deadline, which is typically three business days before the offer deadline.

For floats and placements, provided the security is approved for Wrap super and IDPS menus, floats and placements are generally available. Investment managers should confirm the security is approved for Wrap before placing any bids.

Investment managers may also be required to update their portfolios to reflect the adjusted model weights post corporate action implementation. 

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