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This section describes the features of the report.

Frequency

The report can be configured as either daily, monthly or quarterly. The frequency you choose in the report controls the frequency of the performance record created during the commit process. It does not restrict the returns that can be calculated within the report.

A report frequency of Daily results in a performance record with a PERF_FREQ_CODE of D (if Monthly, then PERF_FREQ_CODE = M; if Quarterly, then PERF_FREQ_CODE = Q). This is slightly different behavior from the Perf Calc report where the PERF_FREQ_CODE is derived during the commit process (based on the specified begin and end date). The MFP Commit report is a single date report (runs for a single date rather than for a start and end date). If the report is set to daily (monthly, quarterly), the PERF_FREQ_CODE always sets to D (M,Q) when the returns are committed.

Entity Selector

The report uses entity history by default. The option can be turned off by clicking the options link in the entity selector box. Best practices include leaving entity history turned on. This assures that the historically relevant entity information is used during the calculation process.

The report can be run against the following entity types: mutual fund class (entity type = MFCL), portfolios (entity type = PORT), custom entity types modeled after portfolios, and static or dynamic lists (entity type = LIST).

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Report Rule

The report supports use of Dynamic NAV Return report rules. Note that the mapping of returns for the purpose of committing is not required. This enables the report to be used for analytic purposes without populating miscellaneous numbers in the database.

Date Options

The report can be configured to run for a variety of date options including:

  • As of (to execute a specific date)
  • As of date rule (specific date based on a date rule)
  • Date range (see notes below)
  • Date range date rule (range of dates based on a date rule)

Date Range

The Date Range option provides a way to submit the report for several dates all at once. This option works in conjunction with the frequency of the report. For example, if a daily frequency report is run with the date range option set to 6/25/08 to 6/30/08, six reports are submitted (one each for 6/25/08, 6/26/08…6/30/08).

Similarly, if the report is set to monthly frequency and the report is run with the date range option set to Jan '08 - Mar '08, three reports are submitted (one each for 1/31/08, 2/29/08 and 3/31/08). Note that the date range option does not provide a way to control the order of the report submissions.

If you need to control the order of the dates that are submitted, use the Process Manager Many times, the order of submission does not matter. Therefore the date range option provides a quick and easy way to submit for a range of dates.

Show Missing Entities

This option allows the report to display a line item for funds that have been included in the entity selector process but do not have any data to support a return calculation. If you do not choose the Show Missing Entities option, funds without valid data do not show in the report.

For example, if you run a report for five funds and one of them does not have any NAV data, (if the Show Missing Entities option is enabled) the output shows a line item for all five funds. The fund missing the data does not have any returns in the output. This also means that the commit process creates a performance record for the errant fund (with NULL return values). If you do not use this option, the report only shows a line item for the four valid funds.

Commit Options (Automatically Commit Results)

If the Commit Options (Automatically Commit Results) option is set to Yes, the report results automatically commit to the database. If it is set to No, the results are not committed. This provides firms with the flexibility to either automate processing or provide a way to review results before manually committing the returns.

Commit Options (Do Not Update Business Calendar)

The Commit Options (Do Not Update Business Calendar) option provides a way to override the automatic updating of the business calendar. The commit process automatically updates the Eagle PACE business calendar. This is done to ensure that the business calendar is in sync with the performance data. If this option is enabled, the update to the business calendar does not occur.

Best Practices includes setting the report to update the business calendar. Note that if you want to use the Eagle Query Tool to retrieve committed results, the business calendar must be set accordingly. This means NOT using this option. The option is provided for clients that maintain the business calendar through other processes and who want to prevent interference from the commit process.

Commit Options (Commit Returns as Preliminary)

This option determines how Eagle Performance assigns a Preliminary status to committed returns. Options include:

  • Always. Automatically calculates and stores all the returns as Preliminary. You can control reporting of numbers before they are finalized by configuring certain reports to only show preliminary figures.
  • Only when materially different (Materiality Check Field). Commits first time returns as Preliminary. If returns were previously committed for that entity/effective date/source/frequency/performance model, Eagle overwrites only those returns that are materially different from the prior returns. If there is no material difference between the returns, Eagle does not overwrite prior returns for that entity but commits the new returns to the alternate commit source. If there is a material difference from a prior return that has a Preliminary status, Eagle overwrites the prior return. If there is a material difference from a prior return that has a Final status, Eagle commits the new Preliminary return to the alternate commit source and does not overwrite the prior return.
    The system identifies material differences using the Materiality Check field in the report's Field Rule or Report Rule. For more information, refer to Performance Calculation.
  • Select Alternate Commit Source. This field appears only if you select the Only when materially different option. It specifies the alternate performance source used to commit returns that have a non-material difference and to commit returns with a material difference when the prior returns have a Final status. Choose a source that differs from the source specified in the Select Commit Source field.

Commit Options (Commit Returns as Final)

This option determines how Eagle Performance assigns a Final status to committed returns. Options include:

  • Always. Automatically commits all the returns as Final.
  • Only if within Tolerance (Commit Tolerance Field). Commits returns as final unless they fail a tolerance check specified by the Commit Tolerance field in the report's Field Rule or Report Rule. Those portfolio/dates that fail are committed in a Preliminary status. For more information, refer to Performance Calculation

Select Commit Source

This option specifies the source that the report uses to commit performance results to the PERFORM database. The default source, Eagle PACE (source instance 4), appears, but you can select a different performance source. A performance source is a source that has a feedback type of Performance.

Manage Performance Model, Ignore Native Model

These options allow you to commit results to one or more non-native performance models (dictionary ID that does not match selected report rule), and to avoid committing results to the native performance model. For more information, refer to Committing Retail Fund Returns.

Other

The report includes all of the output and scheduling options common to all OLAP reports. For more information, refer to the PACE Reporting Reference Guide.
 

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