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Problem with % change displayed along Right Axis

Questions on using, creating, or understanding data in Fund Manager graphs.

Postby osinv » Tue Mar 09, 2021 10:40 am

Hi Mark,

I am having an issue with the % displayed along the Right Axis when reviewing my Investment Funds using an Investment Share-Price Graph. I have invested twice in the same fund, the "MS Global Opportunity", using two different classes, CLASS A (with higher commissions) and Class I aka "CLEAN" (with lower commissions).

When I plot the YTD share price graphs, in both of them I get very similar NAVs for 1/1/21 and also for 3/9/21, since the YTD return is more or less a 2% in both cases. However, when I look at the right axis scale, the % return shown is correct for the CLEAN Class (2%), but incorrect for the CLASS A fund, showing a 13% change YTD instead.

Here are the two screenshots. I am also attaching them in case they render too small to visualize.

Any idea of why this happens and how I can fix it?

Image

Image

Thank you,

Oscar
Attachments
Class A.png
Class A.png (237.47 KiB) Viewed 1095 times
Clean.png
Clean.png (194.35 KiB) Viewed 1095 times
osinv
 
Posts: 47
Joined: Thu Oct 12, 2017 7:03 am

Postby Mark » Tue Mar 09, 2021 1:45 pm

Hi Oscar,

What is the price of each on 12/31/2020? This is the baseline 0% figure, not 1/1/2021. From the online help for this feature:

Display % Along Right Y Axis:
Label the right Y axis with percentage change since the beginning of the graph. Available in graph types where it makes sense to label with a percentage. The baseline (0%) reference is the value that would be plotted on the day prior to the starting graph date, such that the %'s are inclusive of the starting graph date.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Posts: 10527
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Location: Chandler, AZ

Postby osinv » Tue Mar 09, 2021 3:55 pm

Hi Mark, I think I know where the problem might be. The fund with Class A has a price history gap between 9/30/20 (NAV = €101.52) and 1/22/21 (NAV = €111.38).

Still, I can't understand why the graph shows that the NAV on 1/1/21 is €109.56, what kind of price interpolation it does to get to this NAV.

Or why the vertical right axis shows a +13% change YTD, in which case the starting NAV on 12/31/20 should be €97.50 (97.50 x 1.13 = €110.18 (NAV on 9/3/20) and not the €109.56 that the graph displays.

Oscar
osinv
 
Posts: 47
Joined: Thu Oct 12, 2017 7:03 am

Postby Mark » Tue Mar 09, 2021 5:26 pm

Hi Oscar,

Yes, the missing price points is going to cause some confusion. The point plotted on 1/1/21 is interpolated using a linear interpolation between the surrounding recorded points (9/30/20 and 1/22/21). The point used for the baseline 0% calculation (for 12/31/20) is determined using a step interpolation, so based on your reported numbers, that would be 101.52. With step interpolation, the price just stays the same until a new price is recorded. With linear, you're drawing a straight line between the 2 dates/prices.

Given you end up at 110.18, this should be closer to 8.5% (101.52 * 1.085 = 110.18). So, the numbers aren't quite adding up. Please double check the recorded closing prices in the Data Register under the data type of "Prices". Also, make sure you're sorting the prices by date, so you can be sure of the prices in this time range. If you still can't see the reason, please email me your *.dat investment file for the investment in question, and I can take a look.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 10527
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ


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