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The custom index build algorithm requires a weight from the source entities. Check your uploaders and performance calculation commit rules to make sure the beginning weight is committed or loaded. The weight column is configurable but defaults to the ABAL column. The weight is required for the process, but it can be stored in a column other than and used by the custom index builder. A weight, for example, would be 100 for 100 percent or 50 for 50 percent. A market value, for example, would be 125,000.
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| The algorithm does not produce the proper results if a market value is loaded to the ABAL column or the alternatively defined weight column. The value of a weight is still required (for example, 100, 50, 25, and so on). |
The weight column is defined by an internal field attribute. It can be changed by running the following command in a SQL query tool:
Update rules..field_attributes set field_name = 'new psr column name' where field_attribute_id = 339
The new psr column name is the column you would like to use for the custom benchmark builds.
Also, be sure to update the UPDATE_DATE column on this table and stop and restart the PACE Server.
The weight column which is defined by the internal field attribute applies to the PACE environment which means all entities. The weight column cannot be changed on a per entity basis.
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Before you use the Custom Index Builder, you must define a set of field attributes for the custom benchmark entity build process to complete successfully. The custom benchmark entity build process creates performance data only for those fields that you configure as field attributes. Creating these field attributes allows the Custom Index Builder to store the performance data it calculates in the appropriate column in the PERFORM database tables, and makes that performance data available for downstream reporting.
The custom benchmark process entity build requires Advanced field attributes that you need to set up only once. In the beginning of the entity build, the process finds and builds all Advanced field attributes configured with the process of Custom Index or Custom Index Weight Field. (The Custom Index Weight Field process description is named in the scripts as Custom Index Weight Field.)
All fields defined for the source are the same fields that are populated for the target custom benchmark. For example, if you set up the PERFORMDBO..PERF_SEC_RETURNS.PSR_USER_FLOAT8 column with a process of Custom Index, then the Custom Index Builder looks for source entity data in this column and also writes back to this same column with the target entity data.
The field attributes you define can apply to multiple types of custom benchmarks in some cases. Use field naming conventions that reflect this. The Custom Index Builder does not permit two separate field attributes to populate the same database field; it treats those field attributes as potential duplicates and does not populate the field. For example, create a single Custom Index Total Return field for use with all types of custom benchmarks rather than creating both a Blended Index Total Return field and a Floating Index Total Return field.
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| For hedged benchmarks, use the local return to ensure intended results. A field attribute set up against local return also writes back to this same column as noted above. The Custom Index Builder does not have the ability to write data to a different column than it is sourced from. |
To set up the field attributes to build for custom benchmarks:
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
- Enter Reporting in the Start Search text box.
- Click the General Reporting (Reporting Center) link to access the Reporting Center.
You see the Reporting Center workspace. - On the Components tab, select Fields.
- Choose New.
- Create the return field.
This field is required. This is an Advanced field and the process must be Custom Index. See the example in the following figure.
If you are defining a base return with currency conversion, be sure to specify the currency process. Otherwise, for a local return, do not define the currency process. In this example, note that the Currency Process attribute is set to Return Value for currency conversion.
This field is populated in the PERFORM database after the entity build has completed. Optionally create a weighted field.
This field is not required. This also is an Advanced field, but the process is Custom Index Weight Field. See the following figure.
If you are using currency conversion, if a weight is stored, do not define a value for the Currency Process attribute. However, if a market value is stored, you must specify a value for the Currency Process attribute to enable currency conversion. In this example, note that the Currency Process attribute is not specified, and currency conversion does not apply.
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Info The ABAL field is created automatically in the resulting custom benchmark performance data. It is created from the underlying source entity ABALs and does not require a field attribute to be set up against the ABAL column. Also, only one field attribute can be set up against a specific PERF_SEC_RETURNS column. For example, if PSR_USER_FLOAT8 is used for a Custom Index field then, another field attribute cannot use PSR_USER_FLOAT8 and have the process of Custom Index. This creates an entity build error.
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