Manage Policy Types

Owned by Paul Dixon (Unlicensed)
Last updated: Jul 11, 2023 by Pamela Totas (Deactivated)
2 min read

In the Portfolio Data Center Policy Types workspace, you can create and manage custom policy types. Custom policy types allow you to create your own underlying entity type in the system. For data storage, the system associates every entity with a policy. A custom policy type is a user-defined code and description, which is modeled on a base-entity type. You can use custom policy types to manage the uniqueness among groups of entities in Eagle.

Background

Many processes in Eagle depend on the base-entity type of an entity. For example, certain processes are valid for portfolios but not for reporting composites, or they are valid for sub-portfolios but not for a benchmarks. Eagle recognizes the following base-entity types:

  • Aggregate

  • Benchmark

  • Composite

  • Custom Benchmark

  • List

  • Mutual Fund Class

  • Peer Group

  • Performance Composite

  • Portfolio

  • Sleeve

  • Sub-Portfolio

In PDC, every policy is associated with one entity type. When you create a new entity under a policy, PDC maps the policy type associated with the policy to the entity type column. Custom policy types enable you to create a new category of policy type with a user-defined code and description.

Business Purpose

Custom policy types provide a method for managing and organizing distinct groups of entities in Eagle. For example, you have multiple offices around the world, each with its own data maintenance requirements. Without custom policy types, PDC stores portfolios from each office with a policy type of PORT. Custom policy types enable you to define dedicated type (Entity_Type) for each distinct business unit. They provide options for reporting, governance, and distribution.

Best Practices

  1. To create custom entity type which should mimic data management process, select the data management processing type. 

  2. To create entity type which should mimic accounting process, select accounting processing type.

For example, create a custom policy type Custom Portfolio Type 1 with the base entity type as Portfolio. After you establish the custom policy type, it is available as a choice when constructing new policies. You need to map a policy to the new custom type Custom Portfolio Type 1. When someone creates new entities with this policy, the system shows the Entity Type = Custom Portfolio Type 1 and PDC treats it as a portfolio (PORT).