Report on income and expenses (MiFID II)
The "Report Income and Expenses (MiFID II)" offers you - in addition to the somewhat more detailed "Report Income and Expenses" - the perfect list of ex-post costs, fees and income consolidated according to MiFID II criteria.
The "Report on income and expenses (MiFID II)" contains the following detailed information:
Field | Description |
|---|---|
Income and expenses (MiFID II) | The title of the report. |
Customer name | The name of the owner from the address. |
Portfolio number | The portfolio number entered in the "Portfolio no." field in the portfolio master data. |
Evaluation date | The evaluation date of the report. The default setting is the current date or the evaluation date entered in the input field in the toolbar. |
Evaluation currency | Currency in which the evaluation is created. You can set this evaluation currency via the report parameters (<STRG<+<A>). For the standard setting, please also read the section Parameters of the standard reports in the Infront Portfolio Manager online help. |
Account manager | The name of the account manager. |
Telephone | The telephone number of the customer advisor from their address. |
Yields | On the left-hand side of the report you will find a breakdown of income by interest, dividends, fund distributions and other income (including kickbacks affecting cash flow). These values are added up in the "Total income" field. |
Total income | The income in the evaluation period is added up here. |
Expenses | On the right-hand side of the report, you will first find the expenses in the "Expenses" section, divided into service costs and costs of financial instruments. |
Total service costs | In the upper part of the expenses, the service costs are broken down into AM and custody account fees, flat-rate transaction costs, advertising costs and limit fees. You can also use the "Show stamp duty" parameter to show the stamp duties. These are added up in the "Total service costs" line in the evaluation period. |
| Total financial instrument costs | The financial instrument costs represent the second component of expenses in the report - divided into entry and exit costs and product costs. To determine the product costs for each security included in the evaluation period, the product costs are calculated on a daily basis (trading days) and then added together. The product costs for the securities appearing here are generally provided directly from the cost service ("Total costs (funds)" or "Ongoing costs (derivatives)"). A product cost history of the security can also be created manually in the securities master data of the Infront Portfolio Manager. This then overwrites the values from the cost service. The input fields for this can be found in the "Master data" dialog box on the "WM 2" tab. Please also refer to the explanations in the section Enter historical securities costs manually. |
Total expenses | Service costs and the costs of financial instruments in the evaluation period are added together here. |
Reimbursements | This section shows the reimbursements, broken down into creditable and informative reimbursements. |
Total refunds | All eligible reimbursements in the evaluation period are added up here. |
Total costs | The total costs resulting from the statement in the evaluation period. To determine this, the value "Total refunds" is deducted from the value "Total expenses". |
Impact of costs on the return | At the bottom of the report you can see how the return changes as a percentage based on the total costs calculated in the report. |
The "Income and Expenses (MiFID II)" report also shows percentage values for costs and fees for the "Classic" performance calculation type.
To switch the report to the "Classic" calculation type, proceed as follows:
- Use the <CTRL>+<A> key combination to display the parameters of the report.
- Select the "Classic" entry in the selection list for the "Calculation type" parameter.
- Close the "Parameters" dialog box with "OK".
The report is recalculated and the column with the percentage costs is displayed. The text in the lower section "Impact of costs on returns" will also be updated accordingly.
Please note that the composition of income and expenses in this MiFID II report differs from that in the classic "Income and expenses report". Here, for example, only securities-related stamp duties are included in the entry and exit costs, but not the costs recorded directly via the transaction type "Stamp duty". In the classic "Income and expenses report", on the other hand, these stamp duties are also totaled in the "Stamp duties" field.