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When you select the Use Business Calendar option for a calculation, Eagle Performance uses the business calendar to ensure there are no missing returns.
For example, Eagle Performance does not display a one year return unless there is a return for each of the business days in the one year time period. In an increasingly global marketplace, firms have portfolios managed around the world with local market valuation practices potentially requiring use of different business calendars for a portfolio and its respective benchmark.
When you select the Use Business Calendar option for the following types of calculations in Performance Analysis reports and Composite Analysis reports, Eagle Performance uses the business calendar assigned at the entity level to ensure there are no missing returns:
- Performance Link Analysis fields. For more information, refer to "Performance Link Analysis Field."field.
- Performance Risk Analysis fields. For more information, refer to "About Performance Risk Analysis Fields" in Chapter 3 of this book.
- Performance IRR Analysis fields. For more information, refer to "Configuring Performance IRR Analysis Fields" in Chapter 4 in this book.
- Performance Attribution fields. For more information, refer to the Attribution Guide.field.
- Global Attribution fields. For more information, refer to the Attribution Guide.
- Composite Performance Analysis fields. For more information, refer to the GIPS Composite Management User Guide.
Otherwise, for all other types of Performance calculations, Eagle Performance uses the business calendar associated with Eagle PACE source 4 when performing the business calendar check.
You can review the Business Calendar sheet in EagleEye Analysis to identify the business calendars used to generate Performance Analysis report results. See the Using EagleEye Analysis chapter for details.
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You can configure the system to associate a business calendar with an entity, and can assign a different business calendar for each entity in order to apply that entity's business calendar when performing the business calendar check.
If you plan to set up a new business calendar, be aware that you must associate each business calendar with an existing Source in PACE.
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| You can assign business calendars to entities associated with portfolios, benchmarks, and composites. Be aware that in cases where fields require benchmark returns, such as risk and attribution, Eagle Performance applies the business calendar of the portfolio to the portfolio and applies the business calendar of the benchmark to the benchmark. |
To assign a business calendar to an entity:
- From the Add/Edit Entity dialog box, click the Entity Details tab. See the following figure.
- In the Business calendar source field, enter the source associated with the business calendar by clicking the icon beside the field to select a value from the list of sources.
If you do not specify a value, the system applies the Eagle PACE source 4 business calendar by default. The previous figure shows an example of a business calendar selected for an entity.
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