Your Sector Model is completely reliant on how you want this to display within the Fastrak application.
This area is basically the way that your Clients can see where their underlying Funds sit, if you do not allocate your Client’s Funds you may well have areas missing within your Report Charts.
These can be as simple or as complicated as you want, just using a few headings like UK Equity, International Equity, Property, Managed etc. or you can drill down into the individual FE Sectors. You are also not restricted by industry terms and could call your sectors Apples, Pears & Oranges, it is all dependant on what your Clients are familiar with.
Within the Setup Tab of Fastrak you will find the Sector Models tab on the left-hand side of the screen. If this is not available, please raise a Support Ticket to get this area added to your profile.
If you do not have any Sector Models setup the screen will look like this with no Sectors on the left and a list of Funds on the right waiting to be allocated.
The easiest way to create Sectors is to simply create a Sector Model name by simply typing this into the “Sector Model” field.
To create the individual Sectors, just type the name in the “Add Sectors” field and select the orange plus icon next to this field.
This will start adding Sectors into the left-hand side window.
Once you have added all your Sector names into this field you can then add colours which will then appear in some report pages. This is done by clicking on the colour-block icon at the end of the Sector name.
A ‘colour wheel’ will open, allowing you to select colours from here or by clicking where the text field where the hex code appears you can add a specific hex code for a more accurate colour.
Also see the article titled Setup - Setting the Colour of a Sector.
For example, #B50804 will produced the following –
Once you have created all your Sector Names it will look something like –
The next step is to tell the Fastrak Application where the unassigned Funds on the right-hand side should be allocated.
There are 3 different ways to do this, depending on the number of unassigned Funds and which method you find easiest to work with.
Option 1
You will notice that there are double-arrows at the end of each Sector Name and one in the amber bar at the top which will expand or collapse all the Sectors.
Use one of these options to expand the Sector that you want (all the Sectors) and then simply drag and drop the relevant Fund into the relevant Sector. To make it easier to allocate a series of Funds you can add filters into the “Search Funds” box –
Simply repeat this process until you have allocated all the Funds on the right-hand side that you wish to.
Option 2
This option utilises the “export xls” & “import xls” functionality.
Once you have all your Sector Names established click on the “export xls” option and the Sector & Fund Data will drop into excel. Open the spreadsheet and you will be presented with a Worksheet which contains the following columns –
All the data will pre-fill except where there is no Sector assigned to a Fund, in this instance it will be blank.
It is advisable to Save this spreadsheet before you start working in case you need to reinstate this data at any point.
Simply type in the name of the relevant Sector in the Sector column next to the Fund. Please remember to use the exact name of the Sector as it appears in Setup / Sector Models or a new Sector may be created.
Once you have completed this exercise for all the unassigned Funds, or as many as you wish to do, save the spreadsheet with a different name but retaining the Excel version as below -
At this point, go back to Setup / Sector Models and use the “import xls” option to import this data.
The Funds will now appear under their required Sectors.
Option 3
This option uses another piece of functionality within Fastrak Setup called Sector Hierarchies and will move Funds in bulk, quickly by using their underlying FE Sector categorisation.
By changing the settings at the top of the screen to the following (remembering to tick the Default option) you will be presented with your Sector Model on the left and the available FE Sectors on the right –
As per Option 1 it is now a case of simply dragging and dropping the FE Sector fields from the left-hand side to the right.
Your screen will start to look something like this –
The final step in this process is to select the “Apply Changes To Underlying Funds” button.
A message will pop up to confirm how many Funds have been moved across and allocated to their correct Sector.
When you go back into Setup / Sector Models the Funds should now be visible under their Sector.
If you spot that a Fund is under the wrong Sector this can be manually re-allocated. Simply drag and drop the Fund into the Recycle Bin in-between the 2 fields, refresh your browser and then manually place the Fund in the Sector you want.
The same methodology works to move unwanted Sectors and also FE Sectors whilst in Sector Hierarchies.
