Use Default Dictionaries for Reporting

You can use default dictionaries to report comparative total return benchmark information.

When you are setting up benchmarks, you can assign a default dictionary to the benchmark entity. The default dictionary allows you to retrieve entities when a report is running for different performance models. For example, you can report the Total level index return stored using the default dictionary on two different reports—one where you report performance by country and another where you report by sector.

Sample Uses of Default Dictionaries

Some general uses of default dictionaries follow:

• Performance Calculation. You can set a default dictionary for benchmarks to use Total level returns in Performance Calculation reports for tolerance checking the portfolio returns. For more information, see Performance Calculation.
• Performance Analysis. You can use default dictionaries to get Total fund level data into the Performance Analysis report when you did not store that data with the same Dictionary ID as specified in the report rule. When you run the Performance Analysis report, if no return exists for the Dictionary ID in the report rule and a Total level return exists for the entity specified in the Performance Analysis field for any Dictionary ID, the report uses the other Dictionary ID value.

In addition, when there is one Total level dictionary for returns data, you can set a dummy 1+ level dictionary for a Blended or Floating custom benchmark to create a custom blended index which combines two benchmarks at the Total level. You can then assign a default dictionary to the custom benchmark for use in the Performance Analysis report. For more information, see Total Level Only Workaround.

• Composite Weighted Returns. You can use a default dictionary if you have a situation where the portfolio constituents have performance data stored with different Dictionary IDs. For more information, see GIPS Composite Management Configuration.
• Composite Analysis. You can set a default dictionary for either Composite, benchmark, or Constituent data in the Composite Analysis report. Use this only if the data is stored using different performance models for the different entity types. For more information, see GIPS Composite Management Configuration.
• Performance Query Tool. When you display one or more time series of returns, market values, and other statistics in the Performance Query Took, if fund and benchmark returns are stored in different models, you can use the default dictionary to retrieve the benchmark returns from a different model. For more information, see the Performance Query Tool User Guide.

Set Up a Default Dictionary

This section describes how you can set up a default dictionary for use in performance reports. You must identify the name of the performance model you plan to assign as the entity's default dictionary, and add a code value for the default dictionary as an Entity Characteristic code. You can then assign the performance model to an entity, such as a custom benchmark, as its default dictionary.

For example, you assign a default dictionary to a custom benchmark. When you run the Performance Analysis report, if the performance model in the report rule does not match that of the entity performance data stored in PACE, it looks up the default dictionary for the custom benchmark entity. It then queries the PERFORM database for the default dictionary to pull out total fund level data.

To set up a Default Dictionary:

1. From any Eagle window, click the Eagle Navigator button.
2. Enter Dictionaries in the Start Search text box.
3. Click the Dictionaries (Reporting Center) link to access the Dictionaries window.
   You see Dictionaries window.
4. In the Name column, identify the name of the performance model that you need to use as the default dictionary.
5. Enter Codes in the Start Search text box.
6. Click the (Codes) System Management Center link to access the Codes window.
   The Codes window appears.
7. Double-click the code with a Short Desc of DEFPERFMODEL and a Long Description of Default Dictionary.
   The Code Values window appears.
8. In the Source field, select a source for the code value, and then click Add.
   The Code Values dialog box appears.
9. Enter the Short Name and Long Name for the code value.
   You must add a new code value for the Default Dictionary that you can assign as an Entity Characteristic Code. For example, you can add a code value of Default Perf Model for Perf Analysis. The Long Name must exactly match your dictionary Name identified at the beginning of this procedure.
10. Click Add, and then click Save All.
    The system closes the Code Values dialog box and saves the code value you entered.

Assign a Default Dictionary to an Entity

After you create a default dictionary code value for use in performance reporting, you can assign that code to an entity that you want included in a performance report.

To assign a default dictionary to an entity:

1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
2. Enter Benchmarks in the Start Search text box.
3. Click the Benchmarks (Performance Center).
   You see the Performance Center and the Benchmarks workspace with a list of entities.
4. Select the entity you want to configure with a default dictionary, and click Edit on the Home tab ribbon.
   The Edit Entity workspace appears with Entity Details displayed in the bottom section of the page.
5. Under the Entity Characteristics heading, in the TL Default Dictionary field, select the appropriate value from the drop-down list.
6. Click View & Submit Changes to save your changes to the entity.
   If the Default Dictionary field does not appear on the Entity Details tab, you can use the following procedure to customize the Entity Details tab so that it displays the field.

To add the Default Dictionary field to the Entity Details tab:

1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
2. Enter Configure Screens in the Start Search text box.
3. Click the Configure Screens (System Management Center) link to access the Configure Screens window.
   The Configure Screens window appears.
4. Under Entity Maintenance, click Entity Details.
5. In the Display screens assigned to box, choose the appropriate entry, and then click Edit Screen.
   The Maintain Screen dialog box appears, displaying the Screen Name you selected.
6. Click Add Fields.
   The Select Fields dialog box appears.
7. Under Characteristics and the RULES database, select the database field associated with the default dictionary.
8. Click Save.
   The Default Dictionary field can now appear when you edit your custom benchmark.