Fee controlling

Module "Portfolio Service Extended Portfolio Analysis"

In this tabular analysis you can see a detailed breakdown of the asset management performance.

In the workspaces of depot objects, you will find the "Fee controlling" worksheet on the "Monitoring" worksheet. In the list of templates, you will find the evaluation in the "Depot management" category.

In detail, the "Fee controlling" evaluation contains the following columns:

Column	Description
Holder	The holder for whose portfolio the fee invoice is issued.
Portfolio	The portfolio for which the fee invoice is issued.
Performance calculation from	The date from the field of the same name in the portfolio properties. As an alternative to the "Created on" date, you can enter a date from which you would like the calculations for this portfolio to start. You can use the global settings on the "Depot" tab to specify whether this date applies to the evaluations. The default setting is the "Created on" date of the portfolio.
Start date	The start date of the evaluation (taking into account the opening of the portfolio), which is set by default based on the specified fee reporting frequency. You can override this for the evaluation using the parameter of the same name.
Evaluation date	The evaluation date of the evaluation (taking into account any investment resolution). The default setting is the current date.
Days Year	The number of days in the year in which the evaluation date falls.
Days Evaluation period	The number of days in the evaluation period.
Annual share	The proportion of days in the evaluation period in relation to the days in the entire year under review.
Evaluation currency	The evaluation currency of the portfolio.
Initial assets	Assets at the beginning of the evaluation period.
Final assets	The assets on the evaluation date.
Change in value	The change in assets during the evaluation period resulting from the difference between the final and initial assets.
Performance in % (time-weighted) in the evaluation period	The percentage time-weighted performance of the portfolio in the evaluation period.
Average available capital	The average available capital of the portfolio.
Calculation of the VV fee	The symbol in this column indicates whether the "Asset management fee" input field in the portfolio properties on the "Fee invoice" mini-tab contains a value for the portfolio: "Asset management fee" field occupied Field "Asset management fee" not filled
Calculation of the performance fee	The symbol in this column indicates whether the "Performance fee" input field in the portfolio properties on the "Fee invoice" mini-tab contains a value for the portfolio: Field "Performance fee" occupied Field "Performance fee" not filled
VV fee	The percentage asset management fee entered in the "Asset management fee" input field on the "Fee invoice" mini-tab in the portfolio properties.
Pro rata VV fee	The pro rata percentage of the asset management fee for the evaluation period, calculated from the product of the AM fee and the annual percentage.
VV fee net	The net fee for asset management, calculated from the product of the DVK and the pro rata VV fee.
VV fee Value added tax	The VAT incurred for the asset management, calculated from the product of the "VV fee net" and the VAT rate.
VV fee gross	The gross fee for asset management, calculated as the sum of the values "Net management fee" and "VAT management fee".
Calculation High-Water-Mark	The symbol in this column indicates whether a date has been entered in the "High water mark from" input field in the portfolio properties and thus whether a calculation of the high water mark applies to the portfolio: Start date High-Water-Mark set Start date high water mark not set
High-Water-Mark	The current value of the high water mark in percent, calculated as the maximum of the performance values without the current performance.
Current performance since the start of HWM	The current performance achieved since the High Water Mark launch date.
New high water mark	If a new performance peak is reached, this is the new high-water mark. Otherwise, the value of this column corresponds to the value of the old High Water Mark.
Hurdle rate calculation	The symbol in this column indicates whether the "Hurdle rate" input field in the portfolio properties on the "Fee invoice" mini-tab contains a value for the portfolio: Hurdle rate" field occupied Hurdle rate" field not filled
Hurdle rate	The percentage hurdle rate entered in the "Hurdle rate" input field on the "Fee invoice" mini-tab in the portfolio properties.
Start date of the High Water Mark	The date entered in the "High water mark from" input field in the portfolio properties from which a calculation of the high water mark takes effect for the portfolio.
Performance fee	The percentage performance fee entered in the "Performance fee" input field on the "Fee invoice" mini-tab in the portfolio properties.
Pro rata performance fee	The pro rata percentage of the performance fee for the evaluation period, calculated from the product of the performance fee and the annual share.
Overperformance	Value of the overperformance of the portfolio, depending on the active calculation mode for the fees. Please read the following section Calculation modes for the fees of the fee invoice.
Factor of the relevant performance share	This factor is calculated by dividing the overperformance by the performance. The factor is therefore 0 if the overperformance is not greater than 0. The corresponding performance results from the current mode.
*Attributable change in value (factor change in value)**	The attributable change in value, calculated from the product of the "factor of the relevant performance share" and the change in value.
Mode of the performance fee	The calculation mode currently suitable for this portfolio. Please read the following section Calculation modes for the fees of the fee invoice.
Net performance fee	The net fee for the performance achieved, calculated from the product of the attributable change in value and the pro rata performance fee.
Performance fee Value added tax	The VAT incurred for the performance achieved, calculated from the product of the "net performance fee" and the VAT rate.
Gross performance fee	The gross fee for the performance achieved, calculated as the sum of the values "Performance fee net" and "Performance fee VAT".
Total net fee	The total net fee in the evaluation period, calculated as the sum of the values "Net performance fee" and "Net management fee".
Total fee VAT	The VAT share of the total fee in the evaluation period.
Total gross fee	The total gross fee in the evaluation period, calculated as the sum of the values "Total net fee" and "Total VAT fee".

Siehe auch:

Calculation modes for the fees of the fee invoice

Parameters of the "Fee controlling" evaluation