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If you are using the Daily Accrual method and you are missing a price record for any day during the performance period, Eagle Performance does not calculate a gross return. Instead, the Diagnostic tab (and report log) shows an error message indicating the system is missing a required price.
Since many firms cannot guarantee the existence of daily NAVs, the system defaults to the Monthly Accrual method.
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There are two options for this setting, N (No) and Y (Yes). The default is N (No). This option is meant to control the share balance that is used when calculating the reinvestment of actual distribution activity. If the setting is N (No), the impact of both the expenses and distributions are calculated using the prior day's end-of-day share balance. If the setting is Y (Yes), the calculation first reinvests the expense accrual (which is calculated using the prior day's shares as noted above). Once the share balance has been increased by the expense, it reinvests the distributions. This has the effect of increasing the share balance used to calculate the reinvestment shares of the distribution.
Eagle could not find commentary from a governing body, stating that it is a requirement to reinvest expense adjustments prior to calculating the effect of actual distributions. Therefore, the system default for this setting is N (No). This means that the effects of both expenses and actual distribution activity (for the same day) are based on the same prior day share balance.
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There are two options for this setting, N (No) and Y (Yes). This option is meant to control whether or not the reinvestment shares from expense adjustments are subject to post-tax and post-liquidation processing. If the setting is N (No), and the dynamic mutual fund performance field is set to be a post-tax or post-liquidation field, the calculation does not tax the expense accrual amount. Nor does it track the cost basis and apply post-liquidation processing (it continues to tax adjust distribution activity). If the setting is Y (Yes) and the field is either post-tax or post liquidation, the expense accrual is taxed as income prior to reinvestment. The reinvestment shares are then tracked just like a distribution and treated the same in terms of post-liquidation processing. The default for this setting is N (No).
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