When you set up entities for use with multi-manager attribution analysis, you use Performance Composites type entities (ACOMs) or COMPs for the upper entity hierarchy levels and you use Portfolio entities (PORT) for the lowest entity hierarchy level that represents individual managers.
The following table illustrates the entities used for a sample Multi-Manager account.
Plan level(Total Level Composite) | Asset Class level(Composite Constituent) | Manager level(Portfolio Constituent) |
|---|---|---|
Total Plan A (ACOM or COMP type entity) |
Equity (ACOM or COMP type entity) |
Manager A (PORT type entity) |
Manager B (PORT type entity) |
Fixed Income (ACOM or COMP type entity) |
Manager C (PORT type entity) |
Manager D (PORT type entity) |
This table shows the entities created for an entity hierarchy with three levels:
...
You use ACOM or COMP type composites for multi-manager entity hierarchy structures rather than Composite type composites because the Entity Hierarchy can track Manager entities that move in and out of the composite only if you define those composites as ACOMs or COMPs.
Also perform benchmark assignments for these entities. If you only intend to report on Plan contribution, you still need to assign benchmark entities to the constituent entities of the Plan composite, as doing so is required by the attribution analysis engine. So, be sure to assign benchmark entities for all constituent entities of the Plan composite.