Process a Code change

If the ASX code of an investment changes, the new security code will be added to the Securities list automatically. However, you will be required to update the Investment Account of any affected funds. In the example below, AGL Energy Limited (original asx code AGK) traded under the new ASX code AGL from the opening of trade on 24 November 2014.

Refer to the media release from the ASX website for further information.

1. From the Corporate Actions screen, view the Type column. Confirm Demerger appears under the column before proceeding.
   
   
   
2. Select Process under the Action column.
   
   
   
3. AGK will be selected as the Head Security to process.
   
   
   
4. Code/Class Change will be selected as the Corporate Actions Type.
   
   
   
5. Select the chart account for the corporate action (77600/AGK.AX).
   
   
   
6. The Ex / Balance Date (Corporate Action Ex Date) and the Corporate Action Date (Transaction Date) will be selected. Simple Fund 360 will create a code change transaction in the Transaction List based on the corporate action date that was entered; and parcels dated prior to the Ex / Balance date will be affected by the action.
   
   

7. If you have not added AGL as an investment to the fund, select Add New Investment. If AGL is already added as an investment, this information will pre-fill and you can proceed to the next step.

   

   1. Attach the new security (AGL - AGL Energy Limited).
      

      

   2. Select Save. AGL will appear under the New Security section and be automatically added to fund's Chart of Accounts.

   

8. The Current Units on Hand for AGK will appear.

    

9. The Corporate Action Summary will detail the code change between AGK and AGL. Once confirmed, select Process.
   

   In the future the new security (see step 6) will be automatically selected.

 CGT and Accounting Transactions Created

Based on the Corporate Action Date an accounting entry will be automatically entered into the Simple Fund 360 ledger that will reflect the investment code change.

Simple Fund 360 will post 3 transactions to a single journal:

Transaction 1 - Will remove the units from the original investment account.

Transaction 2 - Will process a cost base adjustment to the original investment, reducing the value on the investment to zero.

Transaction 3 - Will process a purchase transaction to the new investment code, this transaction will reflect the units on hand and cost of the investment.

How to delete an ASX code change

If you are required to change a corporate action, you can delete and re-process the action from the Corporate Action screen.

From the Main Toolbar, go to Investments.
Select Corporate actions from the list.

Alternatively, you can access the Corporate Actions screen from the Transaction List:

Locate the corporate action to delete. Select the check box located next to the transaction and Delete.