List Daily Yields and Mil Rates

In the List Daily Yield & Mil Rate panel, you can view the mil rates and distribution yields for a fund within a date range.

To list daily yields and mil rates: 

1. In Accounting Center, in the left navigation pane, click Fund Accounting > Distributions > Distribution Activity > List Daily Yield & Mil Rate.
   You see the List Daily Yield & Mil Rate panel.

2. In the Entity Name field or Entity ID field, specify the name or identifier of the portfolio or composite for which you want to list yields and rates.
   Ensure that you select an entity that has its Daily Distribution Method field (tag 3904) set to a value of Net Investment Income.

3. In the Share Class field, specify the share class for which you want to list information. Otherwise, leave the field blank.

4. In the Date Type field, specify the type of date to use.
   Options include:
   -  Accounting Date. Default.
   -  Effective Date.

5. In the Begin Date and End Date fields, enter a date range for the information to include.
   The fields show the current date by default.

6. Click Submit.
   You see a list of results that met your criteria in the Show All tab. 

Calculations for Mil Rate and Distribution Yield

In the List Daily Yields/Mil Rates panel results, you can view the following fields added for mil rate and distribution yield processing:

• Mil Rate. The daily rate of per share income earned in a fund.
  Class Net Investment Income ((Income – Expense for specified GL accounts) + Mill Rate Adjustment) / Class Shares Outstanding
(either shares outstanding or settled shares)

• Spike Mil Rate. Income on non-distributable accounts that may get distributed in a special distribution / Distribution Shares.

• Month to Date Mil Rate. Daily Mil Rates (that is, Distributable income inclusive of NII adjustments / Distribution Shares) summed for the # of calendar days month to date.

• Month to Date Spike Mil Rate. Daily Spike Mil Rates summed for the number of calendar days month to date.

• 12 Month Mil Rate. Month to Date Mil Rates summed for 12 months. This mil rate is calculated at the end of each calendar month.

• Daily Yield. The daily rate of return on an investment fund, based on the investment income earned.
  Mill Rate * 365 / NAV Per Share

• 7 Day Average Yield. This yield calculation depends on the election for the 7 Day 30 Day Avg Daily Yield Calc field on the entity level.

  • If you select the Use Mil Rate option, the system uses Mil Rate for the yield calculation.
    ((Sum(the last 7 days Mil Rate)) / 7) * 365

  • If you select the Use Daily Yield option, the system uses Daily Yield for the yield calculation. This calculation also applies to Non-Money Market Funds.
    ((Sum(the last 7 days Daily Yield)) / 7)

• 7 Day Effective Yield. The annualized rate of return for a given fund based on a 7-day Average Yield.
  (((7 Day Average Yield / (365/7)) +1) ^ (365/7)) - 1

• One Month Distribution Yield. The annualized rate of return for a given fund based on the Month to Date Mil Rate.

• 30 Day Average Yield. This yield calculation depends on the election for the 7 Day 30 Day Avg Daily Yield Calc field on the entity level.

  • If you select the Use Mil Rate option, the system uses Mil Rate for the yield calculation.
    ((Sum(the last 30 days Mil Rate)) / 30) * 365

  • If you select the Use Daily Yield option, the system uses Daily Yield for the yield calculation. This calculation also applies to Non-Money Market Funds.
    ((Sum(the last 30 days Daily Yield)) / 30)

• 30 Day Effective Yield. The annualized rate of return for a given fund based on a 30-day Average Yield.
  (((30 Day Average Yield / (365/30)) +1) ^ (365/30)) - 1

• 12 Month Distribution Yield. The annualized rate of return for a given fund based on the 12 Month Mil Rate. This yield is calculated at the end of each calendar month.

• Daily Gross Yield. The annualized rate of return for a given fund based on gross income before all expenses.
  ((Total Income / Total Distribution Shares) * 365) / 1 * 100

• 7 Day Gross Yield. The annualized rate of return for a given fund based on a 7-day Daily Gross Yield.
  (Sum(the last 7 business days Daily Gross Yields)) / 7

• 30 Day Gross Yield. The annualized rate of return for a given fund based on a 30-day Daily Gross Yield.
  (Sum(the last 30 business days Daily Gross Yields)) / 30

Calculations for N1A Processing

You can view the following calculations for N1A processing in the List Daily Yield & Mil Rate panel results. The system stores them on a daily basis in the Daily Yields/Mil Rates table. The system calculates these values in a process separate from NII distributions. That process supports a regulatory filing for some entities with that hold out of state securities.

• N1A Out of State Percent (Securities with no state code are considered in state for purposes of this calculation.). The portion of the fund’s gross distributable income attributed to securities held out of state.

• N1A Mil Rate. This is a daily mil rate.

• N1A Restated Mil Rate. N1A Mil Rate reduced by the mil rate impact of reimbursements.

• N1A Daily Yield. The tax adjusted annualized rate of return for a given fund based on the daily N1A Mil Rate.

• N1A Restated Daily Yield. The tax adjusted annualized rate of return for a given fund based on the daily N1A Restated Mil Rate.

• N1A Gross Yield. The tax adjusted annualized rate of return for a given fund based on gross income before all expenses.

• N1A 7 Day Yield. The tax adjusted annualized rate of return for a given fund based on an average 7-day N1A Mil Rate.

• N1A Restated 7 Day Yield. The tax adjusted annualized rate of return for a given fund based on an average 7-day N1A Restated Mil Rate.

• N1A 7 Day Effective Yield. The tax adjusted compounded annualized rate of return for a given fund based on a 7-day N1A Mil Rate.

• N1A 30 Day Yield. The tax adjusted annualized rate of return for a given fund based on a 30-day N1A Mil Rate.

• N1A Restated 30 Day Yield. The tax adjusted annualized rate of return for a given fund based on a 30-day N1A Restated Mil Rate.

On this page