Understanding performance reporting

• Performance screen on Adviser Online
• Report Builder on Adviser Online
• Portfolio Review Report (PRR) on Wrap Online
• Performance Over Time Report on Wrap Online.

• Super and pension annual and exit statements.

The Portfolio Review Report (PRR) can be used to provide information for a group of accounts. This will help you produce an online overview of account activity for a group of clients over a period.

1. Log in to Adviser Online
2. Select Reporting and Portfolio Review
3. Search for the accounts you want to generate the report for, by entering the account name or number in the Groups or Accounts field
4. Click Apply accounts
5. The report default date range is Last 12 months.

You can also search for account groups and generate reports for any ad-hoc groups you create.

Note: You may notice some differences between the figures on the PRR and the Performance page in Adviser Online. Adviser Online only should be referenced for account level performance, and the PRR should be used to calculate performance on a group of client accounts.

You can locate a comprehensive view of your client’s account-level performance on the ‘Performance’ page in Adviser Online:

1. Log in to Adviser Online
2. Search for your client’s account in the Account field of the search bar in the header
3. Select the Performance tab within the account.

Account-level performance summary return 'rules'

• TWRR or MWRR methodologies are available for calculating performance summary returns, except for periods less than 12 months, where only MWRR is available.
• Returns for periods less than 12 months aren’t annualised.
• Managed funds are valued using cumulative (cum) pricing.
• Performance calculations generally include income and expenses (including taxes) if applicable. See below for examples of where some transactions may be excluded.

You can locate a comprehensive view of your client’s security-level performance on the ‘Performance’ page in Adviser Online:

1. Log in to Adviser Online
2. Search for your client’s account in the Account field of the global search bar in the header
3. Select the Performance tab within the account
4. Select the Security detail sub-tab.

Security-level performance summary return ‘rules’

• Security performance isn’t available for Direct Cash, Instalment Warrants or any Other assets.
• If the security was transferred in after the report start date, then the opening value used in the security performance calculation is as at the date the security was transferred in. Otherwise, the opening value used is as at report start date.
• Security performance is calculated for the most recent holding of security within the reporting period selected. If a corporate action, redemption or trust restructure affects the holding period for a security, during the date range you have selected, then a warning message will appear on the Performance Security detail page telling you the dates that were used in the calculation.

MWRR calculations are generated as at the date of the report, for the time period requested.

How account-level MWRR is calculated

(Closing portfolio value - Opening porfolio value - Net Capital Flows) / (Opening portfolio value + Sum of the Weighted Capital Flows)

How security-level MWRR is calculated

(Closing value – Opening value – Net Capital Flows) + Income accrued] / (Opening value + Sum of the weighted Capital Flows)

TWRR calculations for all investments are calculated daily to obtain the most accurate results. The daily figures are then compounded to obtain returns for any required period.

TWRR is calculated using the formula below:

(Closing portfolio value – Opening portfolio value – Net Capital Flows) / (Opening portfolio + Net Capital Flows)/2)

Please note:

• Portfolios holding a non-daily priced fund may experience variations in reporting figures based on the pricing and settlement timings of the fund.
• The daily figures reported in TWRR are refreshed with changes to asset values that have occurred within the last 2 months. Asset values older than 2 months will retain their historical unit value. This may cause some repricing not to be being included in the final TWRR figure.
• TWRR figures will smooth out significant spikes or troughs in the daily portfolio balance of an account. Not all days will be included in the final performance figure.
• Important: As a result of the above, some instances of TWRR may differ from estimates produced using the calculation method outlined below. Users should be aware of how these factors may impact the final performance reported by TWRR.