You can use Performance NAV processing when you need the system to calculate an additional NAV on a monthy basis at an alternative pricing point to the normal NAV. For example, you can calculate the Performance NAV on the last business day of the month at a close of business (COB) valuation point. You can use this Performance NAV internally rather than release it to the market and use it to replace your existing daily process.
| Info |
|---|
Performance NAV processing is available as part of the Eagle mutual fund accounting solution. It is not part of the Eagle performance measurement solution. |
...
WRITERS NOTE: is it specific to MF accounting and/or Insurance accounting?
When you calculate the Performance NAV, you use special entity pricing target sources to allow for the additional valuation point and market value calculations. You must load pricing data released from the vendors into these target sources. The STAR to PACE Batch process pushes holdings data to the Eagle PACE data warehouse using these prices to carry out those market value calculations, storing them under a new Pace source instance.
...
You can use the Holdings report to view the Performance NAV sourced data to review the portfolio valuation which you maintain for auditing purposes. You can also use the Performance NAV history report to review NAV data for business operations.
...
The following diagram displays the Performance NAV
...
The Performance NAV calculation uses Eagle PACE data warehouse data to determine the difference between daily STARDIRECT and STARPERF sourced holdings market value data:
STARDIRECT Market Value – STARPERF Market Value = Market Value Delta
When the entity is multi-class, the service uses the allocation percentages from daily activities to calculate the class specific market value movement:
Market Value Delta * Class Allocation Percentage = Class Specific Market Value Delta
It then adds the Market Value Delta to the daily accounting total net assets calculated for that effective date to determine the Performance TNA:
Daily Total Net Assets + Market_Value_Delta = Performance Total Net Assets
Next, the calculation divides the Performance TNA by the daily accounting Shares Outstanding for that effective date to determine Performance NAV Per Share:
Performance Total Net Assets / Daily Shares Outstanding = Performance NAV Per Share
Finally, if you set up an entity with a Multicurrency NAV Rule, the calculation divides the Performance NAV by the applicable current effective date FX Rates to determine the Performance Multicurrency NAVs.
...
processing workflow.
WRITERS NOTE: we do not typically include workflow diagrams for core engine enhancements. is this too technical for end users? if used, should we say the report at the end is the Performance NAV History report?
