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GIPS requires that firms provide the total assets under management (AUM) on compliant presentations. The firm's total firm assets are equal to the aggregate market value of all discretionary and nondiscretionary assets under management within the defined firm. The Composite Analysis report has specific fields for reporting Firm Assets and Percentage of Firm Assets figures in the report. These fields are found in the Composite Performance Analysis field category.
Eagle offers three approaches for reporting on Firm Assets for a composite:

  • 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.

Reporting on Firm Assets using the Performance Based Data Approach

When you report on Firm Assets in Composite Analysis reports using the Performance based data approach, you define the Firm as an ACOM and associate it with constituent ACOMs. Using this approach to set up Firm Assets allows you to report historical changes in Firm membership and report AUM for multiple firms in the same report. It also allows you to convert AUM from the Firm's base currency to the composite's base currency or convert to an alternate currency. The key benefit of this approach is the ease it offers in using Eagle to calculate Firm AUM.
Configuring the System for Firm Assets Data Storage
When you configure PACE for firm assets data storage when using the Performance based data approach, you use the Performance Composite (ACOM) entity type for the Firms. You use the Composites tab on the ACOM to create the GIPS composite relationships to the Firm for the purpose of calculating the Firm AUM amount. You must also associate each GIPS composite with its Firm by entering the Firm ID in the Entity Details tab for each GIPS composite.
To configure the system for Firm Assets:

  1. Create a Performance Composite (ACOM) entity to represent each Firm, as follows:
  • In the Entity Details tab, specify the inception date and Base Currency for the Firm.
  • In the GIPS Composites tab, identify all of the GIPS composites in the Firm historically.

The system stores these membership records in the ENTITY_RANGE_DETAILS table in the RULES database. The system uses these records when you use Eagle to calculate the Firm AUM.

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 Creating GIPS Composites section of the GIPS Composite Management User Guide.
  1. 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.


  1. Create a field attribute for the field you renamed in the previous step. See the following figure.


Field Attribute for Firm ID

  1. 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.
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.

  1. Identify the process to use for calculating and storing the Firm Assets amount for each Firm, and ensure that you maintain Firm Assets amounts at the Firm level on a historic basis and going forward as part of your regular processing.

You can use an existing Performance Calculation report or can create a specific report with calculations and columns dedicated to aggregating and storing the Firm AUM. For example, you can use a Performance Toolkit Calculations report and store the Firm AUM in the eglPrf-GrossEndMktVal column, based on the PSR_USER_ field in the PERF_SEC_RETURNS table in the PERFORM database, to use the gross end market value in AUM calculations. See the following figure. You can also upload the Firm AUM from another source to an existing column in the PERF_SEC_RETURNS table in the PERFORM database. You store this value at the Firm level at the required frequency (monthly, quarterly, annually).

Field Attribute for Market Value
Configuring the Composite Analysis 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 Performance based data approach for reporting firm assets under management.
To configure the Composite Analysis report to report firm assets:

  1. 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.
When you 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.

Composite Performance Analysis Firm Assets Field

  1. 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.
When you 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. It uses the Use Field to identify the composite's market value, so that it can calculate the ratio of the composite's assets to the Firm's assets. See the following figure.

Composite Performance Analysis Percentage of Firm Assets Field

  1. 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.


Composite Analysis Report Rule

  1. 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.
  1. 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.

Composite Analysis Report Results - Performance Based Data Approach

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.
To configure the system for Firm Assets:

  1. 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.
  2. 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.
  1. Create a field attribute for the Firm ID field you renamed in the previous step. See the following figure.


Field Attribute for Firm ID

  1. 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.



  1. 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.

Field Attribute for Firm AUM

  1. 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.

  1. 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.

Entity - Entity Details Tab Identifies Firm ID for Composite
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:

  1. 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.

When you 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 to retrieve the AUM based on the date range rules specified in the report profile. See the following figure.

Composite Performance Analysis Firm Assets Field

  1. 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.
When you 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 to retrieve the AUM based on the date range rules specified in the report profile. It uses the Use Field to identify the composite's market value, so that it can calculate the ratio
of the composite's assets to the Firm's assets. See the following figure.

Composite Performance Analysis Percentage of Firm Assets Field

  1. 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.

Composite Analysis Report Rule

  1. 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.
  1. 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.

Composite Analysis Report Results - Entity Based Data Approach

Reporting on Firm Assets using the Client Based Data Approach

When you report on Firm Assets in Composite Analysis reports using the Client based data approach, you define the Firm as a Client type entity and associate it with constituent composites.

Note:

This approach is provided for backwards compatibility. Eagle provides more robust approaches for reporting on Firm Assets. For more information, see the beginning of this section.

Configuring the System for Firm Assets Data Storage
When you configure PACE for firm assets data storage when using the Client based data approach, you use the Client entity with a client type of Firm Assets to define the Firm. You use the Relationships tab for the client to maintain the GIPS composite relationships to the Firm. You use the Client Details tab to store the Firm AUM for the Firm.
To configure the system for Firm Assets based on Client data:

  1. Add a new code value to the iClient Type code to support a Client type, Firm Assets, as follows:
  • From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator. Enter Codes in the Start Search text box. Click Codes (Portfolio Data Center). You see the Codes workspace.
  • Expand Search section and select ICLIENT TYPE in the Codes dropdown and click Search.
  • You see the Codes page appears, listing the code values created for the code of Client Type.
  • Click Add Code Value link. You see an empty row appear at the end of table.
  • Enter a Code Value Short Description of FIRM, Code Value Short Description of Firm Assets, and set Source to Eagle PACE.
  • Click Enter. You see a message stating Code Value is successfully created. See the following figure.


Client Type Code Value Created for Firm

  1. Grant access for the new Client Type to the appropriate PACE Role through User Administration. In User Administration, when editing a Role, you select the Client category and select the new Firm Assets Client type for access, as shown in the following figure.


User Access to the Client Type for Firm Assets

  1. Rename a field in the CLIENT table in Inventory of Tables to use for storing the Firm Assets amount for the Firm, as follows:
  • 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/Fields (System Management Center). You see the Inventory of Tables workspace.
  • In the Table Name column, click CLIENT. The Inventory of Fields window appears, showing columns for the CLIENT table in the RULES database.
  • Select the checkbox for a User_Numx field (1–5 are available), and click Edit Field. The Edit Pace Inventory Field dialog box appears.
  • Give the user-defined field a description of Firm Assets, select the Show this field in all editing screens checkbox, so that the field appears in the Client Details tab for the Firm and you can edit the field in that tab, and click Save All.
  1. Create a Client Detail field attribute that points to the field on the CLIENT table where the firm assets amount is stored, and make this field available to the Composite Analysis report by selecting the Field Options link. See the following figure.


Client Detail Field Attribute

  1. Create a Client entity to represent the Firm, as follows:
  • From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator. Enter Clients in the Start Search text box. Click Clients (System Management Center). You see the Clients workspace.
  • Click Create. You see the Enter Client's Identification dialog box.
  • In the Enter Client's Identification tab, set the Client Type to Firm Assets and assign the client a name (for example, US FIRM).
  • In the Choose an Entity tab, associate all the GIPS Composites that are part of the Firm with the Firm.

After you save the Client entity, the related composites appear in the client's Relationships tab. The Entity Relationship information for the Firm is stored on the CLIENT_RELATIONSHIPS table in the RULES database.

  1. In the Client Details tab for the Firm, update the Firm Assets amount historically for GIPS reporting and ensure that you maintain the Firm Assets going forward as part of your regular processing.

You can manually enter the Firm Assets in the Client Details tab for the Firm or you can upload this information. The data is stored in the RULES.DBO.CLIENT table. See the following figure.

Client Details Tab
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 Client based data approach for reporting firm assets under management.
To configure the Composite Analysis report to report f irm assets:

  1. Create a Firm Assets type Composite Performance Analysis field, as follows:
  • In Calculation Type, select Firm Assets.
  • In Firm Entity, leave the field set to its default value of <none>.

A value of <none> for this field indicates that you are using the Client based data approach and the system can identify the Firm associated with this composite in the CLIENT_RELATIONSHIPS table, located in the RULES database.

  • In Firm Value Field, select the Client Details field attribute you created.

See the following figure.

Composite Performance Analysis Firm Assets Field

  1. Create a Composite Performance Analysis field for Percentage of Firm Assets, as follows:
  • In Calculation Type, select Percentage of Firm Assets.
  • In Firm Entity, leave this field set to its default value of <none>.

A value of <none> for this field indicates that you are using the Client based data approach, and the system can identify the Firm associated with this composite in the CLIENT_RELATIONSHIPS table, located in the RULES database.

  • In Firm Value Field, select the Client Details field attribute you created
  • 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.
See the following figure.

Composite Performance Analysis Percentage of Firm Assets Field

  1. Add the Firm Assets field and the Percentage of Firm Assets fields to the Composite Analysis field rule.


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