Details of the Performance Report

In this section you will find more detailed notes on the "Report Performance Report" - in particular some simple examples for calculating the values.

Example for calculating the "profit over time"

This simplified example is intended to illustrate the difference in the calculation of profits in the evaluation period when the "Profit over period" parameter is activated and deactivated:

Apart from these two transactions, you have not carried out any other transactions and have no other securities in your custody account.

If - as in the default setting - the "Profit over period" parameter is activated, the "Performance report" provides the following results for the evaluation period 01.01.2015-21.06.2015:

If you deactivate the checkbox for the "Profit over period" parameter, the "Performance report" is recalculated and provides the following results:

The unrealized profit of € -4,032 is reported here. This is calculated as the difference between the purchase price and the price at the start of the evaluation (in this example 30.12.2014) times the number of shares, i.e:

(72,68 € - 113 €) * 100 = -4.032 €

In total, both variants naturally result in the same change in assets (€ 10674) in the evaluation period.

Foreign currency accounts

Your Infront Portfolio Manager calculates foreign exchange gains from foreign currency accounts and shows these in the "Report Performance Report".

A cash flow on a foreign currency account, e.g. an inflow of USD 10,000 on 03.04.2013 through the sale of a share position, changes its value in the reporting currency (assumption: EUR) due to the changing exchange rate between USD and EUR. This change in the respective account balance due to the exchange rate fluctuation is reflected in the "Change in value" shown in the left-hand section of the report and must therefore also be taken into account in the right-hand section of the report.

The Infront Portfolio Manager calculates realized gains that have run through a foreign currency account as follows: The exchange rate between the foreign currency account and the evaluation currency is taken into account both at the time of purchase (at the time of purchase) and at the time of sale. This means that the currency fluctuation of the account currency against the evaluation currency is included in the realized profit.

Explanation: By using a foreign currency account, the currency gain between purchase and sale is neutralized from a tax perspective. However, a consistent overall view of all successes and earnings requires this currency gain to be taken into account. The solution to the problem here is also the separation between the tax and the commercial or consistent view.

Foreign exchange gain on foreign currency accounts in the "Report Performance Report"

For a foreign currency account, the foreign exchange gain against a reference currency (usually EUR) in a specific period is calculated in the "Performance report". The following applies:

▶ The time period is defined by the parameters "Start date" and "Evaluation date"

▶ The currencies involved are "account currency" and "reference currency"

▶ The earnings figure is "foreign exchange P&L" in the reference currency

▶ "WK(date)" is the exchange rate from "account currency" to "reference currency" at the time "date"

▶ "Balance(date)" is the account balance of the foreign currency account at the time "date" in "account currency"

▶ "_Di" is the date of the i-th account movement between "Start date" and "Evaluation date" with_D0 = day before the start date and_Dn = evaluation date (i.e. i=1 is the first and i=n-1 the last account movement in the period under consideration)

The foreign exchange gain is then calculated as follows:

Please also read the section Calculation of foreign exchange gains.

Funds with interim profits

Unrealized gains and losses are calculated in the "Report Performance Report" on the basis of net fund prices (excluding interim profits). This type of calculation provides the correct result, although it certainly takes some getting used to at first, as the fund prices are published as gross prices (with interim profit). In addition, the interim profit must be known on a daily basis so that the unrealized profit can be calculated on the basis of net prices. This is always guaranteed in the Infront Portfolio Manager if the interim profits are delivered with the price data supply.

Please note that interim profits in the price system are only delivered for the "EAX" (Kontrollbank ÖKB fund trading), "EDX" (investment funds) and "KAG" (fund trading market maker) positions. For the other places, a request for intermediate profit always returns 0.

As of January 1, 2018, the separate calculation and taxation of interim profits was abolished by the Investment Tax Act .