This indicates an Account (aka series) has invested in a company that has had a liquidity event (merged, sold, gone public) — and there are proceeds available, or money available in the client account due to this exit.
Further, iSelect needs to know from the investor what to do with the proceeds. Should we send a check or reinvest the proceeds into their iSelect account for future investments?
When a liquidity event has occurred and iSelect has not yet received a decision, then the proceeds are shown as "Proceeds Needing Decision."
When necessary, iSelect mails paper forms to clients informing them of their net proceeds and asking how much to take and how much to reinvest. In some cases, per the offering documents, iSelect may distribute proceeds to the investor if we have not received a decision.