Transfer Out Process

The general process for a transfer out is:

In specie transfer

• Wait for any outstanding trades on the account to complete.
• Suspend trading on the account to prevent any further buys or sells, via Accounts > [account name] > Update platform settings
• Action the in specie transfer out via your external custodian (e.g. AllFunds or CREST).
• Match the resulting in specie transfer out records under Accounts > In specie transfers and verify that no holdings are left on the account.
• Continue with the cash transfer process, if there is any cash in the account.

Cash transfer

• Update the account’s bank account to that of the ceding provider.
• Request a withdrawal, withdrawing to the above bank account and for a full disinvestment.
  • This will automatically trigger sales of any remaining asset holdings if they have not already been transferred in specie.
  • This will add pro rata on-going fees for the current month where applicable.
• Wait for any sales to complete and settle.
  • The withdrawal request will show as ‘pending disinvestment’ until all unit holdings have been closed.
• Instruct and settle the disinvestment withdrawal instruction..
  • This will automatically close the account once the cash and unit holdings are zero.
  • If there are any residual holdings remaining (e.g. from a distribution received post-disinvestment request) then another withdrawal request will automatically be created for the remaining amount

 

To show the transfer out progress, currently, the transfers management area and dashboard are designed for transfers in only, not for transfers out. However, the transfer out can be processed on Altus and add an equivalent transfer record on the platform which should then pick up updates fed through from Altus.

 

References: Titan Support | RE: Priority 4 - Transfer Out Process