Fund Manager Advisor can utilize Pershing data files for import and reconciliation. Pershing files are usually downloaded via InfoDirect, but other methods may be available as well. If your Broker-Dealer uses Pershing, contact your Broker-Dealer for instructions on obtaining these files. Fund Manager utilizes the following file formats:
|Transaction data for non-cash investments|
|Transactions relating to cash|
|Position data for non-cash investments|
|Position data relating to cash|
|Security details and pricing|
|Security details and pricing (newer format)|
Video Tutorial: See the Tutorial on Importing Position/Transaction Files.
The commands for importing from Pershing are available under the File / Import menu. The commands for reconciling are under the Edit menu. Details on each type of operation is described here:
Transaction Imports: When importing transactions, existing investments and accounts are updated by sub-portfolio account number and the investment's CUSIP property. When importing a single file, you can select either the GACT or ACTV file, and the other matching file with the same base filename will also be imported. Fund Manager will also look for corresponding DESC and ISCA files with the same base filename. For example, if you select to import the file: 051710.GACT, all of the following files in the same folder will be utilized if present: 051710.GACT, 051710.ACTV, 051710.DESC, and 051710.ISCA. When importing all files in a folder, any file with the extension GACT, ACTV, DESC, or ISCA will be utilized. The DESC and ISCA files are used to update pricing and establish the name, symbol, and investment type of new investments.
Position Imports: Initial starting positions can be imported from GCUS and FUND files. You would only ever want to import positions at most one time, when you are getting started. If you have all historical transaction files, it is not necessary to import starting positions. Importing positions is only necessary if you would like to establish an initial starting position, without entering/importing all prior historical transactions. Imported positions are recorded as a purchase of the specified number of shares at a cost of zero, as no cost basis data is available. You can either manually edit the cost basis after importing, or choose to only report on performance after the date of position import.
The GCUS position files are available in either a "Refresh" or "Update" state. The "Refresh" files contain all positions, where the "Update" files only contain changes on that date. Fund Manager requires the full "Refresh" version of a GCUS position file. Whether a GCUS file is a Refresh or Update file can be read from the header line in the file. Importing an Update GCUS file will generate a warning message in Fund Manager, and the file will be ignored. (InfoDirect generates Refresh GCUS files each Friday, and only provides Update GCUS during the week.)
When importing a position file, you can select either the GCUS or FUND file, and the other matching file with the same base filename will also be imported. Fund Manager will also look for corresponding DESC and ISCA files with the same base filename. For example, if you select to import the file: 010110.GCUS, all of the following files in the same folder will be utilized if present: 010110.GCUS, 010110.FUND, 010110.DESC, and 010110.ISCA. The DESC and ISCA files are used to update pricing and establish the name, symbol, and investment type of new investments.
Price Imports: Pricing data can be imported from either a DESC or ISCA file. Pricing of existing investments is updated by the investment's CUSIP property. It is not necessary to have both a DESC and ISCA file, either one will work.
Reconciling With Position Files: Single account or bulk reconciliation can be done using position files. When bulk reconciling, you select a folder where your position files are located. Any GCUS (Refresh only) or FUND file in that folder will be read in, and all positions for the specified date will be utilized. When reconciling a single account, you select a specific GCUS or FUND file to reconcile against. You can choose either the GCUS or FUND file, and both will be utilized. They must both be in the same folder, and have the same base filename.
Trade vs. Settlement Date:
Pershing GCUS position files contain both settled and trade date share balances. When importing positions you can select whether to import traded or settled share balances (Import "Traded" Positions). This same option is used when reconciling.
Transactions in the GCUS file contain both trade date and settlement date transactions. By default Fund Manager records the "trade" date transactions. If you would prefer to record the transactions on the settlement date, set the following registry value to "1":
HKEY_CURRENT_USER\Software\Beiley Software\Fund Manager\CurrentVersion\Pershing\use_settle
You can use the program "regedit" to create this new string value of "use_settle" and set it to "1" (without the double quotes).
Preview Importing Transactions Dialog
Tutorial on Importing Position/Transaction Files