problem with totals in the bottom

[gbfabiani]

Hi Mark,

I have an issue ( FM 14) I think I always had, even with v12 and v 13:

When I make a Portfolio Performance report by investmentat a sub-portfolio report, I have the totals of the column with-distributions equal to the sum of the various dividends+interests of the period.

If I scale up by one (or more) level , the same Performance report shows correctly the individual lines ( dividends/iterests) , but the sum in the bottom has nothing to do with the details of the rows. ( and often is zero) .

If I make the report by investment but selecting also totals by sub-portfolio, again I have all the subtotal of the portfolios "correct" , but the final total is not : once more, the bottom has nothing to do with the details of the rows. ( and in general is a "small" number, same than above) .

I also see that the recaps of the subportfolio ( just before the final totals) are identical to the totals of the individuals portfolios ,while the bottom grand total shows contributions and withdrawals that are not the totals of the same columns in the subportfolios.

To try to explain in a better way, at the bottom level Beginning value , Gain and End Value+acc int are in line with everything ( sum of the single lines of sums of the subtotals of the subportfolios ( if they have no portfolio inside) , but the bottom line Contributions, withdrawals and with-distrib are unreconciliable ( to me) . Only in the one level subportfolios I mamage to balance, with the 2-3-4 levels, the bottom line is "strange" to me !!

thanks for your patience
regards
giovanni

[Mark]

Hi giovanni,

These fields do not simply sum at the sub-total level, as the definition of internal/external is specific to each report line. This has been a common source of confusion, which is why we added a new "Cash Flow Style" option of "Contributions, Withdrawals, and With-Distrib. (no lines)" under "Report Preferences... / Portfolio Performance". In this case it doesn't draw the horizontal single and double lines, implying summing is happening.

You may like to read the documentation on "External Cash Flow":

http://www.fundmanagersoftware.com/help ... _flow.html

The point that often causes confusion is that these fields are reported relative to each line. The definition of a contribution/withdrawal is for that report line. So, for example, if you buy a stock in a portfolio and pay for it with cash out of that same portfolio, you will see a contribution on the stock line, a withdrawal on the cash line, but nothing on the portfolio line. This is because there was no contribution/withdrawal at the portfolio level.

[gbfabiani]

Ok, I feel the logic ( still have to fully understand it) . However, while I understand the contribution/withdrawals somehow compensating themselves within such a portfolio, and in fact I found an example where at the bottom I see the "real net contribution " to a portfolio in a period ( I assume you would name it external cash) it is a pity not to have the total of the distributions .... because that have been cashed in.

However I tried to change the preference line/no line , but it looks like I had the same print .

regards
giovanni

[Mark]

Hi giovanni,

The line/no lines option should control whether lines are displayed just above/below these specific columns (Contributions/Withdrawals/With-Dist.), but only on rows of objects, like a sub-portfolio.

You can still get the total of your distributions. You can get this a few different ways. For one, you can change the cash flow style to "Invested and Distrib.". With this cash flow style, the figures sum as you are expecting. You can also create a Distribution Summary report, or a Custom report to see your distributions/totals.

[gbfabiani]

I got it !!

thanks
giovanni