IMPORTANT: GICS being deprecated March 17, please use with RBICS instead

Announcements
21

I tried searching the Company Description for “mortgage” or “lending” but it’s not precise.

Have you tried screening out companies that have IntIncTTM ?

For example

IntIncTTM >0 and Ticker(“AXP, ALLY, CACC, SYF ,V, MA, FISV, COIN, FIS, GPN”)

Returns AXP, ALLY, CACC, SYF + COIN.

Pretty close to what you want.

22

that’s awesome. I will try playing with it.

So essentially if i want to exclude business that do any kind of lending, I should exclude anything with IntInc > 0? And how do i do do that? By adding rule that IntInc = NA?

23

I have hundreds of systems that are affected by this change and I hope that it goes smoothly.

However, I have no way to test it out until the plug is actually pulled. What happens then? Is it hard to reactivate the beta site for this change to see what happens? Also, I am concerned about the timing. The plug is scheduled to be pulled on March 17, which is Friday. That does not give us a lot of time to troubleshoot fix problems if they come up. Furthermore, if they do come up, is anyone going to be available over the weekend to fix it, if the issue is on the P123 side?

Wouldn’t it make more sense to schedule this on a Tuesday, so that we can iron out the issues during working days before the next Monday comes along?

24

After further discussion, we will be making the minimal necessary changes to account for the upcoming change. The GICS function will continue to exist, but as of Friday, it will be deprecated and unsupported. New GICS codes may not be supported.

We highly recommend reviewing GICS function usages and migrating them to appropriate RBICS expressions. Portfolio123 mappings are and always have been best-effort mappings, and, as such, the GICS function may give unexpected result. On top of that, mapping data will not be reviewed for accuracy upon future GICS or RBICS changes, such as the RBICS changes scheduled for July 30th.

The major change to note for Friday is that GICS(6010) will change from RBICS(REALESTATE) & !RBICS(HOMEBUILDMANUF.XX1, REITDIV, REITMORTG) to RBICS(REITEQUITY) because the definition of GICS 6010 is being changed from Real Estate to Equity REITs, so we recommend priority given to formulas referencing GICS 6010 directly.