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- Performance Based Data Approach. Most robust method where you define the Firm as an ACOM, calculate Firm Assets for the Firm based on enumeration of composites, and store Firm Assets amount at the Total level in Performance tables. This approach:
- Allows you to report historical changes in Firm membership
- Allows you to report AUM for multiple firms in the same report
- Allows you to convert AUM from the Firm's base currency to the composite's base currency
- Offers a key benefit—the ease it offers in using Eagle to calculate Firm AUM.
- Entity Based Data Approach. Robust method where you define the Firm as an ACOM, and store Firm Assets amount historically at the Firm level. This approach:
- Allows you to report historical changes in Firm membership
- Allows you to report AUM for multiple firms in the same report
- Allows you to convert AUM from the Firm's base currency to the composite's base currency
Client Based Data Approach. Legacy method where you define the Firm as a Client type entity, and store Firm Assets amount at the Firm level. This method is provided for backwards compatibility.
The approach you select affects the way in which you configure the system and set up the Composite Performance Analysis fields used in the report. The following sections describe how to configure the system and set up the Composite Analysis report when using each approach.
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- Create a Firm Assets type Composite Performance Analysis field, as follows:
- In Calculation Type, select Firm Assets.
- In Firm Entity, select the field attribute you created to identify the Firm in which each composite is a member.
- In Firm Value Field, select the Performance field attribute you created to store the Firm AUM for the Firm.
In this example, you select the eglPrf-GrossEndMktVal field, which is based on the PSR_USER_FLOAT2 field in the PERF_SEC_RETURNS table.
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- use this field in a report, the system uses Firm Entity to identify the correct Firm for each composite selected in the report profile, based on the date range rules specified in the report profile. It retrieves the Firm AUM for the Firm based on the column selected in the Firm Value Field, and uses the Performance Model and Source specified in the report profile to retrieve the AUM based on the date range rules specified in the report profile. See the following figure.
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- Create a Composite Performance Analysis field for Percentage of Firm Assets, as follows:
- In Calculation Type, select Percentage of Firm Assets.
- In Firm Entity, select the field attribute you created to identify the Firm in which each composite is a member.
- In Firm Value Field, select the Performance field attribute you created to store the Firm AUM for the Firm.
In this example, you select the eglPrf-GrossEndMktVal field, which is based on the PSR_USER_FLOAT2 field in the PERF_SEC_RETURNS table.
- In Use Field, select the Performance field attribute you use to store the Market Value for the GIPS Composite.
In this example, you also select the eglPrf-GrossEndMktVal field, which is based on the PSR_USER_FLOAT2 field in the PERF_SEC_RETURNS table.
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- Create a Composite Analysis report rule, as follows:
- Add the Firm Assets and Percentage of Firm Assets fields you just defined, along with other fields you want displayed in the report. See the following figure.
- If performing currency conversion, choose a Source Rule that identifies the FX rates to use.
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- Create a Composite Analysis
- Create a Composite Analysis report profile that uses the report rule you created. See the following figure. When you set up the report profile:
- Specify the composites for which you want to view Firm assets.
- Select a performance model.
- If you are converting Firm AUM to the composite currency, click Options and select the Convert constituents and benchmark to composite currency checkbox.
- Run the Composite Analysis report.
A report example follows. See the following figure. You can view the Firm AUM amount and the percentage of Firm AUM for the composite. Notice that each composite included in the report appears on a separate tab in the report results.
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Report on Firm Assets using the Entity Based Data Approach
When you report on Firm Assets in Composite Analysis reports using the Entity based data approach, you define the Firm as an ACOM, store the Firm Assets amount historically at the Firm level, and identify the Firm for each composite. Using this approach to set up Firm Assets allows you to report historical changes in Firm membership, report AUM for multiple firms in the same report, and convert AUM from the Firm's base currency to the composite's base currency.
Configure the System for Firm Assets Data Storage
When you configure PACE for firm assets data storage when using the Entity based data approach, you use the Performance Composites (ACOM) entity type for the Firms, and you store the Firm AUM amount in the Entity Details tab for the Firm. You associate each GIPS composite with its Firm by entering the Firm ID in the Entity Details tab of that composite.
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Create a Performance Composite (ACOM) entity to represent each Firm, and in the Entity Details tab, specify the inception date and Base Currency for the Firm.
Note:(Optional) You can create a custom entity type to represent the Firm entity type using the Performance Composite (ACOM) as the base entity type. For example, you can name the entity type "GIPS Firm" to distinguish it from other entity types. For more information, see the GIPS Composite Management User Guide.
- Rename a field in the ENTITY table or the ENTITY_EXTENSION table in Inventory of Tables and Fields to use for storing the Firm ID for each composite, as follows:
- If you do not see this option, you can make the option available using the User Administration or Role Administration options in the User Administration.
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator. Enter Inventory of Tables in the Start Search text box. Click Inventory of Tables and Fields (Metadata Center). You see the Inventory of Tables and Fields workspace.
In the Tables & Fields tab, search ENTITY or ENTITY_EXTENSION, depending on which table you want to use for storage. It lists all the columns for the selected table in the RULES database.
In the ENTITY table, you can select a User_Field field (1–25 are available). In the ENTITY_EXTENSION table, you can select a User_Char field (1–80 are available). Ensure that the field you select supports at least 8 characters, as that is the limit for Entity IDs. - Click Edit to edit the selected field. Give the user-defined field a description of Firm ID, select the Show in editing screens checkbox, so that the field appears in the Entity Details tab for the composite and you can edit the field in that tab, and click Save. The Inventory of Tables and Fields workspace displays your description for the user-defined field.
- Create a field attribute for the Firm ID field you renamed in the previous step. See the following figure.
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- Rename a field in the ENTITY table or the ENTITY_EXTENSION table in Inventory of Tables and Fields to use for storing the Firm Assets amount for the Firm, as follows:
- If you do not see this option, you can make the option available using the User Administration or Role Administration options in the User Administration.
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator. Enter Inventory of Tables in the Start Search text box. Click Inventory of Tables and Fields (Metadata Center). You see the Inventory of Tables and Fields workspace.
In the Tables & Fields tab, search ENTITY or ENTITY_EXTENSION, depending on which table you want to use for storage. It lists the columns for the selected table in the RULES database.
In the ENTITY table, you can select a User_Field field (1–25 are available). In the ENTITY_EXTENSION table, you can select a User_Char field (1–80 are available). Ensure that the field you select supports at least 8 characters, as that is the limit for Entity IDs. - Click Edit to edit the selected field. Give the user-defined field a description of Firm AUM, select the Show in editing screens checkbox, so that the field appears in the Entity Details tab for the Firm and you can edit the field in that tab, and click Save. The Inventory of Tables and Fields workspace displays your description for the user-defined field.
- Create a field attribute for the Firm AUM field you renamed in the previous step. See the following figure.
When you create this field, be sure to select the appropriate Currency Process value. The sample field uses End Value, which Eagle recommends using as a best practice.
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- For each Firm, update the Firm AUM historically and ensure that you maintain the Firm AUM going forward as part of your regular processing.
You can manually enter the Firm AUM in the Entity Details tab for the Firm or you can upload this information.
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- For each GIPS composite, update the Firm ID historically.
You can manually enter the Firm ID in the Entity Details tab of the composite or you can upload this information. See the following figure.
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When you use the Composite Analysis report, the report uses this value to identify the proper Firm for each composite selected in the report profile. It also allows you to report Firm AUM that reflects historical changes of Firm membership.
Configuring the Report to Report Firm Assets
This section describes how to configure the Composite Performance Analysis fields used in the Composite Analysis report when using the Entity based data approach for reporting firm assets under management.
To configure the Composite Analysis report to report firm assets:
- Create a Firm Assets type Composite Performance Analysis field, as follows:
- In Calculation Type, select Firm Assets.
- In Firm Entity, select the field attribute you created to identify the Firm in which each composite is a member.
- In Firm Value Field, select the Entity field attribute you created to store the Firm AUM for the Firm.
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- Create a Composite Performance Analysis field for Percentage of Firm Assets, as follows:
- In Calculation Type, select Percentage of Firm Assets.
- In Firm Entity, select the field attribute you created to identify the Firm in which each composite is a member.
- In Firm Value Field, select the Entity field attribute you created to store the Firm AUM for the Firm.
- In Use Field, select the Performance field attribute you use to store the Market Value for the GIPS Composite.
In this example, you select the eglPrf-GrossEndMktVal field, which is based on the PSR_USER_FLOAT2 field in the PERF_SEC_RETURNS table.
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- of the composite's assets to the Firm's assets. See the following figure
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- Create a Composite Analysis Create a Composite Analysis report rule, as follows:
- Add the Firm Assets and Percentage of Firm Assets fields you just defined, along with other fields you want displayed in the report.
- If performing currency conversion, choose a Source Rule that identifies the FX rates to use.
See the following figure.
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- Create a Composite Analysis report profile that uses the report rule you created. See the following figure. When you set up the report profile:
- Specify the composites for which you want to view Firm assets.
- Select a performance model.
- If you are converting Firm AUM to the composite currency, click Options and select the Convert constituents and benchmark to composite currency checkbox.
- Run the Composite Analysis report.
A report example follows. See the following figure. You can view the Firm AUM amount and the percentage of Firm AUM for the composite. Notice that each composite included in the report appears on a separate tab in the report results.
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