Annual Prospectus Update demo

What the demo shows

Drafts each fund's 485(b) prospectus and SAI update with a cited change log

A fund series' prospectus and SAI open in blackline. A rail on the left lists every change trigger by kind (fee table and fund data, performance update, board actions, rule-driven disclosures, portfolio manager changes, supplements to fold in), each with its count; numbered markers in the margin tie every edit to the trigger and source behind it. The Trigger agent harvests triggers from fund accounting, the performance system, board minutes, the rule tracker, the roster and sub-adviser notices; the Drafting and Rule agents draft each change in house style and update every cross-reference; the Stale-Data agent checks every number against its newest source, including the ones nobody touched; the Series Consistency agent keeps shared wording identical across the funds in the series; the Filing-Path agent tests each change for 485(b) eligibility and sends doubtful ones to the Chief Legal Officer; the Package agent assembles the filing. Drafters propose, a legal reviewer approves each change with a reason code, never their own, and the CLO signs the package.

Transcript

1. 0:00Annual Prospectus Update Drafts each fund's 485 Annual Prospectus Update Drafts each fund's 485b Prospectus and SAI update with a cited change
2. 0:10log. Each must be refreshed before its financials turn 16 months old.
3. 0:18Agents harvest triggers from fund accounting, returns, minutes, and rules.
4. 0:25The Municipal Series opens in blackline, each edit tied to its trigger.
5. 0:32The Stale-Data agent finds National Muni, showing last year's 3.42%.
6. 0:38The source says 4.17%.
7. 0:42The board extended the fee waiver to April 30th, 2028.
8. 0:49Both passed the 485B test.
9. 0:54Hena drafted them, so she can't approve.
10. 0:58PREA, Fund Counsel, approves each with a reason code.
11. 1:04National Muni's change log closes.
12. 1:0732 of 32 approved.
13. 1:11Every change is cited, approved by a second person, and logged.
14. 1:17Result, 380 changes traced, 7 stale numbers caught before filing.
15. 1:25Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.