If you are linking daily returns to calculate monthly constituent returns, then the daily operation for the GIPS Toolkit involves the following phases:
- Daily Data Load
Details of each phase follow:
Daily Data Load:
- When using Eagle Performance for constituent calculations, you have returns committed for every business day in order to link the daily returns to calculate the monthly returns. The Calculation Toolkit describes this configuration. If you are not using Eagle Performance for constituent returns, you need to load those portfolio returns every day.
- Use the Data Steward Event Details windows and Message Center Console to see data load errors.
Monthly Operation
The monthly operation for the GIPS Toolkit involves the following phases:
- Monthly Data Load
- Monthly Calculation of Asset Weighted Returns
- Monthly Data Mart Build
Details of each phase follow:
1.Monthly Data Load. The monthly data load for monthly constituent, index, and FX data includes:
- When using Eagle Performance for composite calculations:
- You need to calculate and commit all underlying constituent return data for every calendar month end.
- If you are not using Eagle Performance for calculating underlying constituent returns, you need to load those constituent returns every calendar month end.
- You need to reconcile membership on a monthly basis. If using Eagle Performance to maintain memberships, you can use the Performance Composite build process and Composite Approval or enter the records manually. You can use Composite Monitor to review composite membership data as well. You can also use the GIPS Composite Membership stream to load membership records from another source.
- You need to reconcile applicable fees and disclosures on a monthly basis.
- Index data must be loaded every month end to support benchmark relative analysis and reporting. The Index Toolkit chapter describes this configuration.
- FX rates are required for analysis in alternate currencies, so calendar month end FX Rates need to be loaded as well.
- Use the Data Steward Event Details windows and Message Center Console to see data load errors.
- Confirming the Calculation and Commit Process. To check for issues in the Performance Calculation process, you can use the Commit Journal to check for system errors, messages from your built in return checks, or other issues. You can also advance each performance commit to the next performance status as prescribed by your workflow.
- Verifying the Data. The Performance Analysis Verification reports are available to confirm expected data values were calculated and the correct data was committed for each constituent in the appropriate Performance Model. The Toolkit also offers Query Tool views to see a time series view of committed performance returns and data over a month to date or year to date time period.
2. Monthly Calculation of Asset Weighted Returns. Includes:
- Calculating Returns and Committing the Data. After the Monthly Constituent, Index, and FX Data is calculated, loaded, and reconciled, then you calculate and commit the composite asset weighted return data for every calendar month end.
- Confirming the Calculation and Commit Process. To check for issues in the Composite Weighted Returns Calculation process, you can use the Commit Journal to check for system errors, messages from your built in return checks, or other issues. You can also advance each performance commit to the next performance status as prescribed by your workflow.
- Verifying the Data. The Composite Analysis Verification reports are available to confirm expected data values were calculated and the correct data was committed for each composite in the appropriate Performance Model. The Toolkit also offers Query Tool views to see a time series view of committed performance returns and data over a month to date or year to date time period. You need to reconcile disclosures on a monthly basis. Composite Approval and Composite Monitor are also sources that can be used to verify composite data.
3. Monthly Data Mart Build. Includes:
- The Monthly Data Mart workflows scheduled during the setup process run for every calendar month end.
- Use the Data Steward Event Queue windows and Data Mart Execution Log to see errors.
- After the Data Mart builds are completed, all monthly presentation reports and Portal queries should be available for Portal users.