Contents for Easy ROR Pro

Introduction

What is Easy ROR Pro?
Getting Started
New Changes in this Release
Easy ROR database
Technical Help
Comments on GIPS Requirements


How To...

Add Transaction data
Assign a Portfolio Type
Backup database
Change Portfolio ID
Change a Portfolio Type
Create a Graph - Balance/Deposits/Withdrawals
Create a Graph - Total Return
Create a Graph - Rolling Period Average
Create a Graph - Benchmark Performance
Create a Benchmark
Create a Blended Benchmark
Create a Benchmark listing
Create a Benchmark Type
Create a Benchmark Value listing
Create a Benchmark Rate of Return report
Create a Portfolio
Create a Portfolio Data listing
Create a Portfolio Gain/Loss report or graph
Create a Rate of Return report
Create a report Header Title
Create a Transaction data Import Record Type Correlation Table
Create a Transaction listing
Create a Volatility report
Create a Portfolio Type
Download Benchmark Values
Duplicate a Portfolio
Delete Benchmark Type
Delete a Portfolio
Delete Transaction data
Edit Benchmark Type & Active/Inactive settings
Edit Benchmark Type
Edit Portfolio ID data
Edit Transaction data
Export Benchmark values
Export Portfolio data
Export Transaction data
Export/Import User Defined Export/Import Descriptions
Import data
Set Initial Screen
Make an Anonymous Database
Manual Pricing
Merge Portfolios
Repair Database
Restore Backup Database
Set/Remove Password Protection
Set Data Path
Undo Transaction Data Import
Use Sample data
Site Map
 

 

 


What is Easy ROR Pro?

Easy ROR Pro is a professional tool to calculate and report the rate of return (and other performance metrics) of investment portfolios using calculation methods standardized for the investment industry.

Reports show the rate of return, either before or after (or net of) tax and before or after (or net of) fees, achieved by both individual portfolios and groups of portfolios between any two dates. Methods of calculating rate of return include "time-weighted" methods described by the Global Investment Performance Standards (GIPS)*. Both total yield and annualized rates based on either daily or annual compounding are reported. Composites for portfolio groups can be calculated using several methods.

Easy ROR Pro provides a number of additional metrics as well, including volatility, risk/reward analysis, graphs, charts, and comparison to benchmarks. It also provides professional features to facilitate maintenance and reporting for numerous clients, including customizing reports, maintaining client info, batch printing and stored report configurations.

Database files may be written to ASCII files which may be imported into editor, spreadsheet or word processor programs.

*AIMR and GIPS are registered service marks of the CFA Institute, formerly the Association for Investment Management and Research ("AIMR")

 

 


Getting Started

When Easy ROR is started, the file ez.mdb is opened as the current database. All of the portfolio Balance, Deposit, Withdrawal, etc. data (Transaction Data) you enter is stored as records in that database. Since 'Transaction Data' is associated with a Portfolio, before Transaction Data for a Portfolio can first be entered you must identify that Portfolio by creating a Portfolio record.

To calculate a portfolio's rate of return during the period, "date A" to "date B", Easy ROR must know the "ID" of the portfolio and the portfolio's value on dates "A" and "B". You provide the "ID" to Easy ROR by creating a Portfolio ID record and you provide portfolio values for that "ID" by creating Balance Transaction records for those dates. Funds added to or withdrawn from the portfolio during the period, i.e. external cash flows, must also be considered when calculating the rate of return; you provide this data to the program by creating Deposit and Withdrawal Transaction records. Note that, for the purpose of calculating portfolio rate of return, a portfolio deposit occurs when money is added to the portfolio from outside the portfolio, not from within the portfolio. Gains generated within the portfolio, such as dividends received and retained in the portfolio or gains resulting from stock price increases should not be recorded as portfolio deposits since these gains are reflected in subsequent portfolio balance values. A dividend paid by a stock held in a portfolio but not received by or retained in the portfolio must be recorded as a portfolio withdrawal since such income was generated by portfolio assets but is not reflected in subsequent portfolio balance values.

You may choose to include the performance of one or more Benchmarks for comparison with the performance of the selected portfolios.

Easy ROR never assumes nor estimates the value of a portfolio. For example, it cannot calculate monthly performance unless monthly balance values have been recorded. The initial Deposit record for a portfolio is not assumed by Easy ROR to be the initial balance (or value) of the portfolio. The initial portfolio value must be recorded on a Balance record. The initial Balance record value should be the actual value of the portfolio at the end of the day (after all deposits or withdrawals) on the record date. Do not enter zero as the initial value since a rate of return cannot be calculated for a period in which the initial value is zero. Since Balance records are interpreted by Easy ROR as the portfolio value at the end of the day, a portfolio's initial value is not zero.

Easy ROR considers a Portfolio to become effective on the date (inception date) of its earliest non-zero Balance record and to remain effective until the date of a zero Balance record. Data outside this date range is not relevant to performance calculations. To prevent any chance of distortion of performance calculations, transaction records outside this date range should not be recorded. If a Portfolio is reactivated after having been closed with a zero Balance record, records should also not be recorded for the date period during which the Portfolio was inactive.

You provide all data to the program by using functions found in the Portfolio and Transactions selections on the Main Menu. If you need to create a new Portfolio ID record, click on Portfolio-Add Portfolio. If you need to edit information on an existing Portfolio ID record or delete a portfolio, click on Portfolio-Change/Delete Portfolio. To enter transactions (Balances, Deposits, Withdrawals, etc.) for a Portfolio either press Ctrl+T on the keyboard or click on Single Portfolio - Add/Change/Delete in the Transactions menu. To enter then same type transactions for a single date for multiple Portfolios either press Ctrl+M on the keyboard or click on Multiple Portfolios - Add in the Transactions menu.

When dates are entered, the month, day and year values must be separated by a slash or dash (if your computer is set to display dates using a period as the separator character, you must use a period to separate month, day and year values when entering dates). If only the month and day are entered ("6/15" but not "6/15/"), the program will append a year value when the Enter key is pressed to record the date entry. The assumed year value will be the current year if the month/day entry is equal to or prior to the current date or the prior year if the month/day entry is later than the current date.

Transactions for many portfolios may be recorded in a database. Multiple databases may be created and maintained. Most individual users would probably have no need for creating multiple databases; professionals may find it useful to create a separate database for each client. The minimum size of a database is 66KB.

The sides of any report which is created in a normal window state (not minimized or maximized) may be dragged to make the report larger or smaller. Depending on the Report Font used for the report the font size will change as the report size is changed. If a report is maximized when it is erased by pressing Escape or by clicking the 'X' in the upper right hand corner, then when a report is next created, it will be initially maximized. If it is not maximized when it is erased, the next report created will be initially be in a normal window state.

The Site Map is provided to present a list of all Easy ROR functions in an outline or tree format.

 

 


New Changes in this Release

Major changes added in Version 15:

Major changes added in Versions 11 thru 14:

Major changes added in Versions 6 thru 10:

 

 


Easy ROR Database

The Easy ROR transaction database is a file which contains all of the values you enter as Portfolio, Portfolio Transaction and Report Title data. When Easy ROR is loaded, the transaction database ez.mdb is automatically opened; it is not necessary to manually open it through using the Open Database command in the File menu. If the ez.mdb file is not present in the folder in which Easy ROR is loaded, a new empty ez.mdb file is created. Benchmark data is maintained in the Benchmark database {benchmark}.mdb.

An 'individual' user would probably not have a need to create new databases and would prefer having all portfolios and their data in the same database. Since ez.mdb is the database which is automatically opened when the program is started, that database would likely be the preferred database.

A professional having clients might prefer having a separate database for each client if each client has multiple portfolios. These databases might be saved as smith.mdb, jones.mdb, etc.

It is not necessary to "save" a database before exiting the program. The database is updated when the Save button on the entry screen is clicked or the OK button is clicked on the Accept this Record dialog box after a new record is entered or an existing record is edited.

All data involving Benchmarks is recorded in a special database named {Benchmark}.mdb. This file resides in the folder in which Easy ROR is installed unless a different folder has been named in the File>Set Data Path function.

An Easy ROR database is a Microsoft Access type file; this type file has an extension of ".mdb". Changing data in a database can cause it to become fragmented and use more disk space than is necessary. When Easy ROR is closed after data has been added to the database, the database is compacted to defragment it; prior to this operation a copy of the database is created which is given an extension of “.bak”. To use this file it must be renamed with an extension of ".mdb".

 

 


Technical Help

Technical help may be obtained, Monday through Friday, 8 am to 5 pm Mountain Time, by calling 303-847-8092.

 

 


Comments on GIPS Requirements

Software cannot claim compliance with GIPS standards. Easy ROR Pro, however, does assist with the compliance process by providing required calculation methodologies and many of the recommended ones. Easy ROR Pro provides the three time weighted rates of return methods, Daily valuation, Modified Dietz, and IRR which satisfy the January 1, 2005 requirements. A January 1, 2010 requirement requires entry of portfolio Balance values on every date on which a 'large' external cash flow is recorded.

GIPS requirements pertaining to calculating methodology include:

Time Weighted Rate of Return (TWRR) that eliminate the effect of external cash flows must be used. Only the Daily valuation method can totally eliminate the effect of external cash flows but this requires that Balance values are recorded for every date on which an external cash flow, large or small, is recorded. The effect of external cash flows is minimized if the Daily valuation method is used and Balance records are recorded for each date on which there is a 'significant' cash flow. The effect of external cash flows can also be minimized by geometrically linking the performance values of intermediate periods to calculate the performance over a report date range. Easy ROR Pro provides for calculating 'Period Returns' (monthly, quarterly and yearly) within the report date range and geometrically linking these values to calculate the performance over the report date range.  More information on calculation methods

Composite returns must be calculated by asset weighting the individual portfolio returns based on the beginning-of-period values or a method that reflects both beginning-of-period values and external cash flows. GIPS also considers calculation of composite performance by treating the selected portfolios as single 'aggregate' portfolio as an acceptable 'asset weighting' technique. Easy ROR Pro provides asset weighted, asset plus cash flow weighted, and aggregate compositing methods.

All returns must be calculated net-of-fees. Easy ROR Pro provides for both before and after fees and before and after taxes calculations.

A benchmark comparison must be used. Easy ROR Pro provides for a comparison of portfolio or composite portfolio performance with a single or a blended combination of benchmarks. It also allows the comparison with the benchmark performance as though portfolio or composite portfolio investments had been made in the benchmark.

See GIPS Help under the Help menu for further guidance, handbooks, and answers to specific questions from the CFA Institute.

 

 


Add Transaction Data

Two data entry functions are provided for entering transaction data.

When using the Single Portfolio - Add/Change/Delete function, select the portfolio for which you want to add transaction data and then enter one or more data records for that portfolio. The screen on which data is entered also lists all transaction records for that portfolio; these records may be edited and/or deleted from this screen. This is the preferable screen to use for entering multiple records for a portfolio. If the 'Include Balance Net Change Values' check box is checked, a 'Balance Net Change' column is included on the grid which displays the change in Balance value since the previous Balance value net of Deposits and Withdrawals.

When using the Multiple Portfolios - Add function, the data entry grid lists all portfolios. You select the transaction date and type of the record or records you want to enter and then enter the Amount value (and Comment and Tax Amount, if a Balance type record) for the applicable portfolio(s). This is the preferable screen to use for entering the same type records for a single day for multiple portfolios; for example entering end of month Balance records for all portfolios.

 

 


Add Transaction Data - Single Portfolio

To enter transaction data, select Transactions-Single Portfolio - Add/Change/Delete or press Ctrl+T. Select from the drop-down list box the Portfolio ID of the portfolio for which transactions are to be entered. To enter a new transaction, select the desired type record from the 'Add Record Type' frame. If the caption of an option button is framed with a dotted box, pressing Enter will initiate a new record for that type.

When entering transaction data, the new data is entered directly onto the top row (a blank row) of the grid on which existing data is displayed.

Note that you must press the keyboard Enter key after making an entry to cause the entry to be added to the grid. Each row of the transaction data grid represents a record.

Pressing the keyboard Enter key when entering data causes the data entry to be added to the grid and also advances the insertion point to the next entry field. Pressing Enter while the insertion point is in the Memo field causes an "Accept this Record" dialog box to appear with the OK button set as the default selection; pressing Enter causes the record to be saved. You may also click on the Save command button to save a new or edited record.

Clicking the "Recurring Entries" command button provides a means to enter a block of records. Records created in this manner have the same Amount, Tax and Memo entries. The Date entries are determined by the Frequency selection (Daily, Weekly, Monthly, Quarterly or Yearly) and the Beginning and Ending Date selections. For Frequency selections other than Daily, the day-of-the-month value on records created is determined from the Beginning Date selection; if the Beginning Date is the last day of a month, the dates on all records created will also be the last day of the month. This feature could be used, for example, to create monthly Deposit records over a two-year period.

You may choose to include a 'Balance Net Change' column in the grid by checking the 'Include Balance Net Change Values' check box. The values in this column apply to only Balance records and are the gain or loss since the previous Balance value, net of intervening Deposit and Withdrawal amounts.

Transaction Record Types include:

Balance - Used to record the Portfolio value on a given day. Balance records may also include a Tax value which represents the theoretical tax on accrued interest and on unrealized capital gains/losses as of the date of the Balance record. The tax entry on a Balance record is the tax which would be owed if the portfolio were liquidated on the Balance record effective date. To record the closing of a Portfolio, enter a zero Balance record for the date of the Portfolio closure and also a Withdrawal record in the amount of the Portfolio value on the closure date.

Deposit - Used to record funds added to the Portfolio. A portfolio deposit record should be entered only to record new money added to the portfolio from outside of the portfolio. Earnings from within the portfolio such as dividends or capital gains which are reinvested within the portfolio should not be recorded as Deposits; they are reflected in subsequent Balance values. For calculation purposes, funds recorded as deposits are considered to have added to the Portfolio at the end of the Transaction Date.

Withdrawal - Used to record all funds withdrawn from the Portfolio. A Withdrawal record must also be entered to record a dividend paid by a stock held in a portfolio but not received by or retained in the portfolio since such income was generated by portfolio assets but is not reflected in subsequent portfolio balance values. Taxes paid on behalf of the portfolio are recorded on a Tax type record, even if the tax amount is also recorded on a Withdrawal type record. . For calculation purposes, funds recorded as withdrawals are considered to have removed from the Portfolio at the end of the Transaction Date.

Fee - Fees applicable to the named Portfolio for the date entered.

Tax - Actual federal and state taxes applicable to the named Portfolio for the date entered.

Each transaction record must have a Type, Date and Amount entry; Memo and Tax entries are optional. Tax values on Balance records and Tax records are used only if after-tax rate of return values are requested.

When dates are entered, the month, day and year values must be separated by a slash or dash (if your computer is set to display dates using a period as the separator character, you must use a period to separate month, day and year values when entering dates). If only the month and day are entered ("6/15" but not "6/15/"), the program will append a year value when the Enter key is pressed to record the date entry. The assumed year value will be the current year if the month/day entry is equal to or prior to the current date or the prior year if the month/day entry is later than the current date.

Add Balance Record from Fundwatch or EarlyRetire reads your selected Fundwatch™ or EarlyRetire Pro™ data file and adds a balance record to the selected portfolio for the date and portfolio balance in the selected file.  Fundwatch™ tracks portfolio information for investment analysis and portfolio design, and EarlyRetire Pro™ tracks net worth for retirement planning.

The maximum Amount (positive or negative) value for any type record is 2,147,483,647.00.

 

 


Add Transaction Data - Multiple Portfolios

This data entry function is designed to be used to create records of the same Type and Date for several portfolios. For example, it would be used to enter end-of-month Balance records for all portfolios. After entering a value, you must press Enter to cause the value to be saved; pressing Tab will not record the value. This function cannot be used to delete records.

To enter new transaction data, select the Transactions-Multiple Portfolios - Add function or press Ctrl+M. The data entry grid lists all portfolios. The Portfolio ID is shown in column 1 and the Portfolio Name in column 2. The column 1 value can be changed to Portfolio Account Number by selecting Account in the 'Column 1' frame. The grid display order can be changed by making the desired selection in the 'Grid Display Order' frame; double-clicking a selected option reverses the display order.

The Transaction Date of all records entered in the grid is the date set at the top left corner of the screen. Select the desired Record Type from the options in the 'Add Record Type' frame. Records of the specified type on the specified Transaction Date which are already in the database are displayed on the grid. Values on existing Balance records may be edited on the grid. If non-Balance type records are already recorded for the specified Transaction Date, they are displayed for information purposes only but values on these records cannot be edited; a new record of that type may be added by using the grid row in which the Amount value is blank.

Pressing the up or down Arrow key will move the insertion point up and down the grid.

Add Balance Record from Fundwatch or EarlyRetire reads your selected Fundwatch™ or EarlyRetire Pro™ data file and inserts the balance from the selected file's portfolio (it does not change the date you have designated for the records you are adding, even if it differs from the date in your Fundwatch or EarlyRetire file).  Fundwatch™ tracks portfolio information for investment analysis and portfolio design, and EarlyRetire Pro™ tracks net worth for retirement planning.

 

 


Repair Database

A database can become corrupted if the program is closed unintentionally during a data entry operation due to a power outage or computer hardware problem. This function attempts to repair the Transaction and Benchmark databases.

 

 


Backup Databases

To copy databases to a different directory or storage device, select the Backup Database command from the File menu. Select the names of the files to be backed up from the Database list. Hold down the Shift or Ctrl key while selecting files to select multiple files.

Select the drive on which the files are to be copied from the Target Drive drop-down list. Select the directory (folder) in which the files are to be copied from the Target Directory list. Click OK to cause the selected files to be copied to the selected directory on the selected drive.

To copy files to a CD you must use Windows Explorer or your CD burning software.

 

 


Create a Graph - Balance/Deposits/Withdrawals

To open the Balance/Deposits/Withdrawals Graph Entry screen, select either with Portfolio ID or with Account Number from the Performance> Graph> Rate of Return menu or press Ctrl+G to make the 'with Portfolio ID' selection. The Graph Selection window contains selections which determine the graph to be generated. The selections to be made include: Portfolio (or Account), Beginning Date, and Ending Date.

If with Portfolio ID was selected a graph may be created which displays the Balance performance and cumulative investment amounts for a portfolio over a selected time period; the legend on the right side of the graph pertains to the line graphs of Balance and Cumulative Investment values and the legend on the left pertains to Deposit and Withdrawal amounts which are plotted as vertical bars. If with Account Number was selected, the graph represents all Portfolios which share the selected Account Number. The Beginning and Ending Balance and Cumulative Investment values are displayed on the graph. Deposits and Withdrawals which occur on the same day are netted before plotting. The total return and the internal rate of return (annual compounding) achieved by the portfolio during the graphed time period are displayed at the top or the graph.

The graph may be maximized. The shape of the graph may also be altered by dragging the sides of the graph.

Operation of the horizontal scroll bar at the bottom of the graph causes a vertical time line to be displayed on the graph. The date represented by the time line is displayed to the right of the scroll bar on a command button; click on the command button to cause the time line to be plotted on the graph and the date to be placed on the time line.

Clicking on the graph causes 'cross-hairs' to be displayed on the graph and the Date and Balance values corresponding to the mouse pointer location to be displayed at the top of the graph. If the graph includes Deposit and/or Withdrawal values, Deposit/Withdrawal values corresponding to the mouse pointer location are also displayed at the top of the graph

Click on the graph with the right mouse button and drag the mouse pointer to cause the graph to be redrawn to the new date range indicated by the mouse. The new graph beginning date will be the date of the Balance record with a Date equal to or prior to the leftmost date of the range defined by the mouse sweep. The new graph ending date will be the date of the Balance record with a Date equal to or later than the rightmost date of the range defined by the mouse sweep. Click the UnZoom button to redraw the graph with the previous date range. The UnZoom button is available only when the original graph has been 'zoomed'.

Click the Print command button to cause the graph to be printed. The appearance of the printed graph is dependent on the dimensions of the displayed graph. Check the 'Print to File' check box on the Print dialog screen to save the graph to a file which can be copied to a Microsoft Word document.

 

 


Create a Graph - Total Return

To create Graph, click the Graph selection and then Total Return from the Performance menu or press Ctrl+R. A combination of as many as 10 Portfolios and/or Benchmarks may be selected for inclusion on a graph. If a group of Portfolios has been selected and the 'Composite Only' check box is checked, as many as 9 Benchmarks may also be graphed; if the 'Show Each Portfolio' check box is checked, as many as 8 Benchmarks may also be graphed. You may also select the Beginning and Ending Dates for the graph. If with Account Number was selected, the graph represents all Portfolios which share the selected Account Number.

The resulting graph is a plot of the Internal Rate of Return performance of the selected Portfolios and Benchmarks from the Beginning Date to the date of each Balance record within the graph date range. The Rate of Return value plotted may be either Total or Annualized. If an 'ROR Type' of Total is selected the plotted values are the performance over each calculation period. If an 'ROR Type' of Annualized is selected the plotted values are the annualized performance over each calculation period, assuming an average year of 365.25 days. Both values are "Total Return" values in that they include the effect of both the change in balance value from the Beginning balance date to Ending balance date and also the effect of deposit and withdrawal activity within the calculation period. The graph may be maximized or resized by dragging the sides.

Portfolios/Accounts included in the list include those which have at least 2 Balance records. If a Portfolio/Account has only 2 Balance records, the earlier Balance record must have a non-zero value to be included in the list. The Beginning Date and Ending Date drop down lists contain the Balance record dates pertaining to the currently selected portfolio(s). Beginning Dates listed are those earlier than the currently selected Ending Date. Ending Dates listed are those later than the currently selected Beginning Date. Only those Portfolios/Accounts having Balance records for the selected Beginning Date can be included on the graph.

The Benchmarks included in the Active Benchmark Selection list are those which have been marked as 'Active'.

If the 'Invest' check box is not checked the Benchmark performance is the rate of return of the selected Benchmarks over the time period defined by the graph beginning and ending dates.

If the 'Invest' check box is checked the Benchmark performance is that which would have resulted if the Portfolio balance value on the Beginning Date had been invested in the Benchmark, Portfolio Deposits had been used to buy additional Benchmark shares and Benchmark shares had been sold to match Portfolio Withdrawals within the calculation period and the Ending Date value of the theoretical Benchmark holding is calculated as the product of the theoretical Benchmark quantity times the Ending Date Benchmark price. If the Portfolio Beginning Date value, Portfolio Deposit/Withdrawal activity and Benchmark prices are such that the calculated Ending Date Benchmark quantity is negative and the sum of the Portfolio Beginning Date value plus the sum of the Withdrawal amounts minus the sum of the Deposit amounts is a less negative value a Benchmark performance value cannot be calculated.

Select the After Tax Check Box (Check Box includes an "X") to cause the portfolio rate of return values to include the effect of the tax records. For the after-tax normal rate of return calculation, the Program adjusts the beginning and closing balances by the values in the Tax Amount fields (if any) on the Beginning and Ending Date Balance records; in addition, Tax records during the calculation period are treated as portfolio deposits in calculating the after-tax rate of return.

Select the Net of Fees Check Box (Check Box includes an "X") to cause the portfolio rate of return values to include the effect of the fee records. For the net of fees rate of return calculation, the Program treats Fee records during the calculation period as portfolio deposits.

Clicking on the graph causes 'cross-hairs' to be displayed on the graph and the Date and Total Return values corresponding to the mouse pointer location to be displayed at the top of the graph.

Select the Logarithmic Graph Check Box (Check Box includes an "X") to cause the rate of return values to be plotted on a logarithmic scale.

Click on the graph with the right mouse button and drag the mouse pointer to cause the graph to be redrawn to the new date range indicated by the mouse. The new graph beginning date will be the date of the Balance record with a Date equal to or prior to the leftmost date of the range defined by the mouse sweep. The new graph ending date will be the date of the Balance record with a Date equal to or later than the rightmost date of the range defined by the mouse sweep. Click the UnZoom button to redraw the graph with the previous date range. The UnZoom button is available only when the original graph has been 'zoomed'.

 

 


Total Return Graph - Portfolio/Account Selection

If with Portfolio ID is selected, Total Return graphs can be created for a single specified portfolio or for each of a group of specified portfolios.  If with Account Number is selected, Total Return graphs can be created whose results are the composite of the Portfolios sharing a single specified Account Number or for each of a group of specified Accounts.  Select from the Portfolio/Account Selection List Box the portfolio/account(s) you want included on the graph.  Double-clicking any Portfolio ID/Account causes all portfolios/accounts to be selected for inclusion on the graph.  Multiple portfolios/accounts can be selected by depressing the Ctrl key while clicking on a portfolio/account entry in the Portfolio/Account Selection List Box.  The sort order of the list is determined by selecting the desired ID, Name, Account Number or 1st Balance Record Date option button located above the list.

Portfolio ID Wild Card Entrywildcard Text Box may be used (if ‘with Portfolio ID’ was selected) to cause all portfolios whose ID’s match the wild card entry to be selected.  The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected.  Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio/Account Group selection may be used to select portfolios/Accounts by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Create a Graph - Rolling Period Average

Click the Graph selection and then Rolling Period Average from the Performance menu. You must select Beginning and Ending Dates and enter a Period over which to calculate rolling averages (see Rolling Period Average Report). As many as 10 Portfolios may be selected for inclusion on the graph. If with Account Number was selected, the graph represents all Portfolios which share the selected Account Number.

The resulting graph is a plot of annualized ROR for all 'Period Length' periods existing in the database for the selected portfolio(s) from the Beginning Date to the date of each Balance record within the graph date range. Each rolling average is plotted as a circle on the graph at the midpoint of the period it was calculated over. These are "Total Return" values in that they include the effect of both the change in balance value from the Beginning balance date to Ending balance date and also the effect of deposit and withdrawal activity within the calculation period. Only those Portfolios/Accounts having sufficient Balance records to calculate at least one rolling average within the selected Beginning and Ending Dates will be included on the graph.

Check the After Tax Checkbox to cause the portfolio rate of return values to include the effect of the tax records. For the after-tax normal rate of return calculation, the Program adjusts the beginning and closing balances by the values in the Tax Amount fields (if any) on the Beginning and Ending Date Balance records; in addition, Tax records during the calculation period are treated as portfolio deposits in calculating the after-tax rate of return.

Check the Net of Fees Checkbox to cause the portfolio rate of return values to include the effect of the fee records. For the net of fees rate of return calculation, the Program treats Fee records during the calculation period as portfolio deposits.

Clicking on the graph causes 'cross-hairs' to be displayed on the graph and the Date and Total Return values corresponding to the mouse pointer location to be displayed at the top of the graph. Click on the graph with the right mouse button and drag the mouse to zoom the graph to a new date range. Click the UnZoom button to redraw the graph with the previous date range.

 

 


Create a Graph - Benchmark Performance

The Benchmark Performance graph is a plot of the percentage gain/loss a Benchmark has experienced from the Beginning Date to the date of each Benchmark price value within the graph date range. Up to 5 Benchmarks may be included on a graph. The performance value plotted may be either Total or Annualized. If an 'ROR Type' of Total is selected the plotted values are the performance over each calculation period. If an 'ROR Type' of Annualized is selected the plotted values are the annualized performance over each calculation period, assuming an average year of 365.25 days. The graph may be maximized or resized by dragging the sides. The Benchmarks included in the Benchmark list are those which have at least 2 price values. The graph may be maximized or resized by dragging the sides.

Select the Logarithmic Graph Check Box (Check Box includes an "X") to cause the rate of performance values to be plotted on a logarithmic scale.

Clicking on the graph causes 'cross-hairs' to be displayed on the graph and the Date and Total Return values corresponding to the mouse pointer location to be displayed at the top of the graph.

Click on the graph with the right mouse button and drag the mouse pointer to cause the graph to be redrawn to the new date range indicated by the mouse. The new graph beginning date will be the leftmost date of the range defined by the mouse sweep. The new graph ending date will be the rightmost date of the range defined by the mouse sweep. Click the UnZoom button to redraw the graph with the previous date range. The UnZoom button is available only when the original graph has been 'zoomed'.

 

 


Create a Portfolio

To create a new portfolio in the current database, select the Portfolio>Add Portfolio function. Enter either a new unique portfolio ID in the Portfolio ID text box, a Portfolio name in the Portfolio Name text box or a portfolio Account Number in the Account Number text box. If no Portfolio ID is entered, Easy ROR will assign one. If no Portfolio Name is entered the Portfolio ID will be assigned as the Portfolio Name unless an Account Number has been entered in which case it will be assigned as the Portfolio Name. Use the Portfolio>Change/Delete Portfolio function to edit any portfolio record field other than the Portfolio ID. Use the Portfolio>Change Portfolio ID function to change the Portfolio ID.

If the database is to contain only a few personal portfolios it may be possible to assign meaningful Portfolio ID's such as IRA, HIS, HER, JT, MOM, DAD, etc. along with meaningful Portfolio Name entries.

Another possibility is that the database consists of multiple portfolios having the same Account Number (a 15 character field) or Portfolio Name (a 30 character field) but different Portfolio Types. The Portfolio Type names are user defined and may be given such values as Equities, Fixed Income, Cash, Balanced, Non-Fee, etc. or the names of mutual funds or other useful name. Each Portfolio Type is assigned a Type code (a 9 character field) and a Type Name (a 30 character field). If a group of portfolios having the same Portfolio Name or Account Number is being created, the Portfolio ID field should be left blank as Easy ROR will assign unique Portfolio ID's to the new portfolios.

Since the Account Number entry cannot be empty the default entry is 1 space.

Lists from which Portfolios can be selected may be sorted by ID, Name, Account Number or Type. The optional Type assignment for a portfolio is available to provide a convenient tool for selecting all portfolios of a given 'Type' when selecting portfolios to be included in a Rate of Return Report. New Types may be added to the Type list by using the Portfolio>Portfolio Type>Add New Type function. The list of available Types may be edited by using the Portfolio>Portfolio Type>Change/Delete Types function.

 

 


Create a New Transaction Database

Selecting the Create New Transaction Database function under the Main Menu File selection generates an initialized, but empty, database temporarily named "{tmp}.mdb". Portfolio ID and Transaction records may then be added to this new file. Use the Save Transaction Database As function under the Main Menu File selection to assign a permanent filename to the file. If the new database has not been assigned a permanent filename when exiting Easy ROR or when opening a different database, you are given the choice of either assigning it a filename or discarding the new database.

 

 


Assign a Filename

Selecting the Save Database As function under the Main Menu File selection duplicates the existing database and assigns the "Save As" filename to the new file. If the existing database is {tmp}.mdb, a newly created file, the file is not duplicated but instead is renamed.

 

 


Add Transaction Data

Upon selection of a Transaction Type, the selection is placed in the top cell of the Type column of the data grid and the insertion point is advanced to the top cell of the Date column. Pressing the keyboard Enter key after making an entry enters the value on the grid and advances the insertion point to the next applicable data cell; pressing the Enter key while the insertion point is located in the Memo column causes the Save button on the Transactions window to be selected. The Save button on the entry screen must be pressed (or clicked) to cause the new data entries to be saved.

 

 


Balance Record

A Balance record contains the Portfolio value (accrued interest on bonds should be included) on a stated date (at 11:59 PM). Rate of return calculations consider that the Balance value on a given day includes the effect of deposits and withdrawals made on that date. A Balance record is required for both the Beginning Date and the Ending Date when creating a Rate of Return Report. Since the Rate of Return value is the interest rate which will cause the Beginning Balance to grow or decline to the Ending Balance, the Beginning Balance cannot be zero. This record also includes a field for the Portfolio's theoretical tax liability on accrued interest and unrealized capital gains. This value is used only when after-tax ROR values are calculated.

 

 


Fee Record

Fee records are used only if net of fees Rate of Return reports are needed. If funds are withdrawn from a portfolio to pay fees and net of fee reports are to be generated, a Withdrawal record reflecting the withdrawal must be entered in addition to the Fee record. If the 'Create Withdrawal record in amount of Fee record also' check box is checked when a new Fee record is created, a Withdrawal record in the same amount will also be created. When calculating an after-fee ROR, the Program treats Fee records as deposits thus resulting in a lower performance value.

If fees are deducted from portfolio funds (thus reducing the portfolio value), but a Withdrawal record reflecting the deduction is not entered, ROR values calculated will actually be "net of fees" even when the "Net of Fees" check box on the report entry screen is unchecked.

 

 


Tax Record

The tax amount values on Tax records are used only in the calculation of the after-tax Rate of Return reports; these records are required if both before and after tax reports are to be generated. The value entered should be the tax amount due to income and/or gains resulting from investments in the portfolio; it should not include taxes resulting from non-investment income such as salaries, pensions, etc. If funds were withdrawn from a portfolio to pay taxes and both before and after-tax reports are to be generated, a Withdrawal record reflecting the tax payment must be entered in addition to the Tax record. If the 'Create Withdrawal record in amount of Tax record also' check box is checked when a new Tax record is created, a Withdrawal record in the same amount will also be created. When calculating an after-tax ROR, the Program treats Tax records as deposits.

 

 


Portfolio Type - Add

Use the Portfolio>Portfolio Type>Add New Type function to add Portfolio Type entries into the Portfolio Type list.

To create a new Portfolio Type, enter a Type Code in the Code box and the desired Type Name in the Name box and click Save. If the entered Code is already in use you will be advised to change it or to leave it blank in which a Code will be created by Easy ROR.

 

 


Portfolio Type - Change/Delete

Use the Portfolio>Portfolio Type>Add/Change/Delete Types function to edit or delete Portfolio Type entries in the Portfolio Type list.

To delete an existing Type, select that Type and click Delete.

To edit an existing Type Code or Name, make the desired change and click Save.

 

 


Portfolio Type - Assign to Portfolio

The Portfolio>Portfolio Type> Assign Type to Portfolio function generates a list of all portfolios to enable the assignment, replacement or removal of Portfolio Type entries. The Type assignment for a single portfolio may also be made when a portfolio is initially created using the Portfolio> Add Portfolio function and also by using the Portfolio> Change/Delete Portfolio function.

A list of the currently existing Portfolio Types is located at the top of the portfolio list. To add or change the current Type entry for a Portfolio, select the desired Type from the Portfolio Type list and then click the Portfolio Type cell of a portfolio to assign that Portfolio Type selection to the portfolio. To eliminate, rather than replace an existing Type entry, select 'None' as the Portfolio Type.

 

 


Portfolio Type

The Portfolio Type property of a Portfolio ID may be used to identify the type of assets in the 'portfolio' such as equities, fixed income, etc.

The Portfolio Type property may also be used as a 'sub-account' identifier if the Account Number is your primary identifier. For example, a single Account Number may pertain to a group of mutual funds or other assets. In this case, Deposit, Withdrawal, Balance, etc values would be recorded for the various sub accounts (Account Number-Portfolio Type pairs) which would all have unique 'Portfolio ID' values which are the key identifiers used by Easy ROR to identify the entity to which the Deposit, Withdrawal, Balance, etc. values apply.

 

 


What is a Portfolio

For Easy ROR, a 'portfolio' is any asset or collection of assets for which you want to calculate performance over time. A 'portfolio' may be comprised of a collection of stocks, bonds, etc. such as a brokerage account or a mutual fund family or it may be a single mutual fund or stock or a rental property, etc. Since, to calculate performance, you will need to enter Balance (portfolio value) records, a 'portfolio' should be something whose value is acceptably easily determined. A monthly brokerage statement or periodic mutual fund statement shows the value of the brokerage or mutual fund account on the statement date, however establishing account values on other days may be difficult. Since the only Balance values needed by the program are the values on the Beginning and Ending Dates of a performance period, the statement values may be sufficient for your needs.

A Rate of Return performance report may include as many Portfolios as you want. When more than one Portfolio is included on a report, you may elect to also calculate the Composite Performance of the selected Portfolios as a group.

If you set up a single mutual fund as a 'portfolio' so you can measure the performance of your investment in that mutual fund you would enter the total value of your mutual fund holding as the Balance value. If dividends and other distributions are being reinvested in the fund, the effect of these distributions is reflected in the total fund value which is determined by multiplying the fund price by the number of shares you own on the price date. The total cost of new shares purchased would be recorded using a Deposit record and a partial or total redemption would be recorded using a Withdrawal record. If you use the share price as the 'Balance' value and enter distributions as '$/share' Withdrawal records, the performance calculation would measure the performance of the mutual fund itself, assuming cash distributions (not reinvested) and would not include the effect of additional purchases or redemptions which could significantly affect the calculation. To measure the dividend reinvested performance of a fund (excluding the effect of additional purchases or redemptions), you could use for Balance values either dividend adjusted prices or use the actual fund value adjusted to exclude the number of shares purchased or redeemed after the initial purchase. To enter the balance, deposit and withdrawal data, select one of the functions under the main menu Transactions selection.

A primary consideration in defining a portfolio is that you have a means of periodically determining the value of the portfolio. For example, the total assets held in a brokerage account might be considered a "portfolio" since the account value obtained from the monthly statement would be conveniently available. A single stock holding or mutual fund could also be considered a "portfolio" if either you want to be able to measure the performance of that holding or that is level at which the cash flow (Deposit and Withdrawals) and value (Balance) data is available. Rate of return can also be calculated for a group of portfolios.

All Portfolio records use the Portfolio ID to identify the Portfolio to which the record pertains. When a Portfolio is created, the User must enter at least either a unique Portfolio ID, a Portfolio Name or an Account Number. If no Portfolio Name is entered the Portfolio ID will be assigned as the Portfolio Name unless an Account Number has been entered in which case it will be assigned as the Portfolio Name. The Portfolio>Change Portfolio ID function may be used to change an existing Portfolio ID.

 

 


Create a Portfolio Data Listing

To create a portfolio data listing, select the Portfolio ID's command from the Listings menu. Select the portfolio(s) to be included in the listing, select a Report Mode of either Display or Print and then click the OK command button.

To restrict Portfolio records listed based on Memo field entries, check the 'Screen by Memo' box. To base the restriction on the total Memo entry, select 'Total Memo' and enter that Memo entry in the text box. To base the restriction on a single character string, select 'String' and enter the string in the text box. To base the restriction on a two or more character strings, select 'String(s)' and enter the strings, separated by spaces, in the text box.

A character string of 'gi' or 'if' or 'ft' would cause records having the word 'Gift' in the Memo field to be listed. The Screen function is not case sensitive.

 

 


Portfolio ID Listing - Portfolio Selection

A Portfolio Listing can be created for a single specified portfolio or for each of a group of specified portfolios. Select from the Portfolio Selection List Box the portfolio(s) you want included in the report. Double-clicking any Portfolio ID causes all portfolios to be selected for inclusion in the report. Multiple portfolios can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Portfolio Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio Group selection may be used to select portfolios by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

To print the displayed report or to write it to an ASCII file, click the Print Command Button to display the Windows Print Dialog Box. To write the report to an ASCII file, select the Print to File Check Box and then enter or select a file name and path in the Windows Save As Dialog Box.

 

 


Portfolio ID Wild Card Entry

To select all portfolios whose ID's have three characters and have the same first character, enter in the Portfolio ID Wild Card Entry Text Box that character followed by ??, eg. E??. To specify a group of portfolios having the same third character, enter two question marks followed by the common character, eg. ??E. A group of portfolios having two-character ID's and having E as the second character is identified as ?E.

Entering an asterisk (*) will select all portfolios. Entering a character or group of characters followed by an asterisk selects all portfolios for which the initial character(s) of their ID matches the character or group of characters preceding the asterisk.

A group of one or more characters enclosed in brackets ([ ]) can be used to match any single character in a Portfolio ID.

To match the special characters left bracket ([), question mark (?), number sign (#), and asterisk (*), enclose them in brackets. The right bracket (]) cannot be used within a group to match itself, but it can be used outside a group as an individual character.

Use a hyphen (-) separating the upper and lower bounds of a range to specify a range of characters. For example, [N-R] results in a match if the corresponding character position in a Portfolio ID contains any letter in the range N-R. When a range of characters is specified, they must appear in ascending sort order (from lowest to highest). [A-Z] is a valid pattern, but [Z-A] is not. An exclamation point (!) at the beginning of a character range means that a match is made if any character except the characters in the range is found in a Portfolio ID. When used outside brackets, the exclamation point matches itself. Multiple ranges are included within the brackets without delimiters. Use a number sign to indicate a single digit (0-9).

 

 


Portfolio Type Selection

To select all portfolios having the same Portfolio Type assignment, select that Type from the Portfolio Type Selection list.

Use the Portfolio>Portfolio Type function to edit the Portfolio Type Selection list. Use the Portfolio>Change/Delete Portfolio function to enter or change the Portfolio Type assignment of a Portfolio.

 

 


Rate of Return Report - Portfolio Group

A group of selected portfolios may be saved for future use by clicking the New command button to create a blank text field in the Portfolio Group Text Box, entering a name (up to 9 characters) in the blank field and then clicking the Save command button. A previously saved Portfolio Group selection may be used by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name. Clicking the Portfolio Group Delete command button deletes a Portfolio Group from the list. To change the portfolios included in an existing group, select that group, make the desired changes to the portfolio selections and then click the Save command button.

If more than one Portfolio Group has been created a Print Multiple Groups check box is present. When this check box is checked the Drop-Down Text Box is replaced by two Option Buttons: Select Group and All Groups.

If the Select Group button is selected a list of all Portfolio Groups is displayed from which one or more Groups may be selected. Click the OK button on the Select list to select the highlighted Groups.

Click the ROR Entry OK button to print the ROR report(s) for the selected Groups.

 

 


Portfolio Group

A group of selected portfolios may be saved for future use by clicking the New command button to create a blank text field in the Portfolio Group Text Box, entering a name (up to 9 characters) in the blank field and then clicking the Save command button. A previously saved Portfolio Group selection may be used by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name. Clicking the Portfolio Group Delete command button deletes a Portfolio Group from the list. To change the portfolios included in an existing group, select that group, make the desired changes to the portfolio selections and then click the Save command button.

 

 


Portfolio ID Listing - Report Mode

Select Display to have the listing displayed or select Print to have the listing printed to file or to a printer without first being displayed. Displayed listings can be printed by clicking the Print command button on the display window.

The maximum length of the listing is 2000 lines. If the displayed listing will exceed the length limitation, you are given the option of displaying the top portion up to the limit or canceling the listing generation.

 

 


Create a Portfolio Gain/Loss Report/Graph

To open the Portfolio Gain/Loss Report Entry screen, select either with Portfolio ID or with Account Number from the Performance> Portfolio Gain/Loss Report menu. This report shows the selected portfolio's gain or loss over the report date range. The report entry screen contains selections which determine the nature of the report to be generated. If each of the selected portfolios has Balance records on both the Report Beginning Date and Report Ending Date, Grand Total values are included on the report. The selections to be made include:

Portfolio/Account Selection - ALL, Single ID, Multiple ID's, Wild Card Entry, Portfolio Group
Beginning Date - Report Beginning Date
Ending Date - Report Ending Date
Report Period - Monthly, Yearly, Quarterly, Single, All
After Tax - Yes or No
Net of Fees - Yes or No
Cumulative - Yes or No
Include Composite - Yes or No
Report Type - Summary or Detail
Report Entry Preset - A,B,C,Save

 

 


Portfolio Gain/Loss Report - Portfolio/Account Selection

If with Portfolio ID is selected, Portfolio Gain/Loss Reports can be created for a single specified portfolio or for each of a group of specified portfolios. If with Account Number is selected, Portfolio Gain/Loss reports can be created whose results are the composite of the Portfolios sharing a single specified Account Number or for each of a group of specified Accounts. Select from the Portfolio/Account Selection List Box the portfolio/account(s) you want included in the report. Double-clicking any Portfolio ID/Account causes all portfolios/accounts to be selected for inclusion in the report. Multiple portfolios/accounts can be selected by depressing the Ctrl key while clicking on a portfolio/account entry in the Portfolio/Account Selection List Box. The sort order of the list is determined by selecting the desired ID, Name, Account Number or 1st Balance Record Date option button located above the list.

The Portfolio ID Wild Card Entry Text Box may be used (if 'with Portfolio ID' was selected) to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio/Account Group selection may be used to select portfolios/Accounts by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Beginning & Ending Dates

The Beginning Date and Ending Date drop down lists contain the Balance record dates pertaining to the currently selected portfolio(s). Beginning Dates listed are those earlier than the currently selected Ending Date. Ending Dates listed are those later than the currently selected Beginning Date.

Since a Balance record is interpreted by Easy ROR to be the value of a portfolio at the end of the day on the record date, to obtain a report for the calendar year 2004, the Beginning and Ending Dates should be 12-31-2003 and 12-31-2004, respectively.

If multiple portfolios are selected and each has a Balance record recorded for both the Beginning and Ending Date and Single is selected as the Report Period, a Grand Total is included at the bottom of the report.

Clicking the MTD(Month to Date), QTD(Quarter to Date) or YTD(Year to Date) button sets the Beginning Date to the date which, based on the current Ending Date selection, will result in a Month to Date, Quarter to Date or Year to Date gain/loss report. If MTD is selected the Beginning Date is set to the last day of the previous month. If QTD is selected the Beginning Date is set to the last day of the previous quarter (either March 31, June 30, September 30 or December 31). If YTD is selected the Beginning Date is set to the last day of the previous year. If, based on the currently selected Ending Date, the last day of the previous month is not included in the Beginning Date list, the MTD button is dimmed. Correspondingly, the QTD and/or YTD buttons are also dimmed if the necessary Beginning Date is not available in the Beginning Date list. All three buttons are dimmed if the Period Returns selection is not 'Single' or if the 'Multi-Year' Special Report is selected. To un-select a selected MTD, QTD or YTD button, either double click it or select a Beginning or Ending Date.

 

 


Report Period

The Portfolio Gain/Loss Report shows a portfolio's gain or loss between two dates on which Balance records have been recorded for the portfolio. If Single is selected as the Report Period, the gain/loss will be shown for the earliest balance value within the Beginning to Ending Date range to the latest balance value within that date range.

Select either the Monthly, Quarterly or Yearly Option Button in the Report Period frame to obtain "period" results. For example, selecting the Monthly Option Button causes the report to contain monthly gain/loss values for the specified portfolios. If the 'Calendar Periods' check box is NOT checked, monthly values are specified and the Beginning and Ending Dates are 12-15-2004 and 3-15-2005, gain/loss values are calculated for the periods 12-15-2004 to 1-15-2005, 1-15-2005 to 2-15-2005 and 2-15-2005 to 3-15- 2005. If the Ending Date had been 3-01-2005, the final monthly value calculated would be for the period 1-15-2005 to 2-15-2005. Similarly, select either the Quarterly or Yearly Option Buttons to generate quarterly or yearly gain/loss values. As described regarding monthly values, quarterly values are calculated for full quarters (3-month periods) beginning with the Beginning Date and yearly values are calculated for full 12-month periods. If the 'Calendar Periods' check box IS checked, monthly values are specified and the Beginning and Ending Dates are 12-15-2004 and 3-15-2005, gain/loss values are calculated for the periods 12-15-2004 to 12-31-2004, 12-31-2004 to 1-31-2005 and 1-31-2005 to 2-28-2005. If the Beginning Date is the last day of a month, the anniversary dates are also ends of months. Calculation of multiple period gain/loss values requires that Balance records in the Transaction File exist for the affected portfolios for each needed anniversary date.

Note that the Beginning Date selection determines anniversary date of the periods.

If the Beginning and Ending Dates encompass multiple periods, gain/loss values are calculated for each period for which beginning and ending Balance records exist.

If All is selected the gain/loss is calculated between each date for which a Balance record exists.

 

 


After Tax

If the After Tax option button is selected the Portfolio Gain/Loss values will include the effect of recorded Tax values. Displayed Balance values are net of Unrealized Tax values on those records and Tax values are displayed in the Tax column.

 

 


Net of Fees

If the After Net of Fees option button is selected the Portfolio Gain/Loss values will include the effect of recorded Fee values. Fee values are displayed in the Fee column.

 

 


Report Type

Select Detail to cause the report to display the date and amount of all Deposit and Withdrawal values. If multiple Deposit and/or Withdrawal values exist on a single date the net of the values is displayed. If After Tax or Net of Fees is selected, the Tax and/or Fee values are displayed by date.

Select Summary to cause the sum of the Deposit/Withdrawal, Tax and Fee values over the Gain/Loss period to be displayed.

 

 


Create a Rate of Return Report

To open the ROR Report Entry screen, select either with Portfolio ID or with Account Number from the Performance> Rate of Return menu or press Ctrl+P to make the 'with Portfolio ID' selection. The ROR Report Entry window contains selections which determine the nature of the Rate of Return Report to be generated. The selections to be made include:

ROR Method - Daily Valuation, Modified Dietz, IRR
Period Returns - Single, Yearly, Quarterly or Monthly
Calendar Periods - Yes or No
Cumulative Returns - From Beginning Date
Cumulative Returns - To Ending Date
Cumulative Returns - Geometrically Linked Cumulative Returns.
Report Type - Summary or Detail
Extended Report - Yes or No
Multi-Year Report - Yes or No
Rolling Period Average Report - Yes or No
Portfolio/Account Selection - ALL, Single ID, Multiple ID's, Wild Card Entry, Portfolio Group
Benchmark Selection - ALL, Single or Multiple Benchmarks, Benchmark Type Entry, Benchmark Group
Beginning Date - Report Beginning Date
Ending Date - Report Ending Date
Composite Report - Yes or No
Compounding Frequency - Daily or Annual
Report Width - 80 characters or 132 characters
Report Mode - Display or Print
Before/After Tax - Yes or No
Net of Fees - Yes or No
Gross/Net of Fees - Yes or No
Include Cents - Yes or No
Report Entry Preset - A,B,C,Save

Note that rate of return values are calculated from the Balance record value on a beginning date to the Balance record value on an ending date, therefore, a minimum of two Balance record values are required to calculate a rate of return. Note also that the program does not interpret a Deposit record as a Balance record, even if it is a portfolio's first record. Since a portfolio whose value is zero cannot grow, regardless of the growth rate, a rate of return cannot be calculated for a period in which the beginning date Balance record value is zero.

The 'Invest' check box is not available when a Special Report selection is made.

After report selections have been made click the OK button. If the Period Returns selection is "Single" and the Composite Report selection is not checked, the rate of return calculated for each of the selected portfolios is based on a portfolio's oldest Balance record having a date later than the Beginning Date entry and the portfolio's latest Balance record having a date prior to the Ending Date entry.

After the report is displayed, the font used to display the report may be changed by selecting the desired font from the drop-down list at the upper left corner of the display. The selected font will be the default font for subsequent reports. Most available fonts have more than one available font size. When such a font has been selected, changing the report width by maximizing or by dragging a report left or right edge will cause the font size to adapt to the new report width.

After the report is displayed, it may be printed or written to an ASCII file by clicking the Print Button. After clicking the OK Button on the Report Setup Dialog, the Windows Print Dialog is displayed. To write the report to an ASCII file, select the Print to File Check Box and then enter or select a file name and path in the Windows Save As Dialog. If the report is an 80-character, multi-portfolio, non- composite report, the option to have each portfolio begin on a new page is available only by Selecting "Print" as the Print Mode in the report entry window.

Two performance values, Total Return and Annual Return, are calculated. The Total Return value is the performance over the period defined by the Beginning Balance date and the Ending Balance date. The Annual Return is the annualized performance assuming an average year of 365.25 days. Both values are "Total Return" values in that they include the effect of both the change in balance value from the Beginning balance date to Ending balance date and also the effect of deposit and withdrawal activity within the calculation period.

If the report was created using a 'Period Returns' selection of 'Single', a Total Return graph of up to 5 Portfolios and 5 Benchmarks may be created by selecting the desired portfolios from the Rate of Return Report and then clicking the Graph-Total button. Select or de-select a Portfolio by clicking any row related to that Portfolio on the report. Click the Graph-Annual button to create a graph of the annualized performance of the selected Portfolio(s). The graph options are not available if the 'Composite Report - Composite Only' option is selected or if the 'Invest' check box in the 'Active Benchmark Selection' frame is checked.

For reports covering more than one portfolio and for which each portfolio has a Balance record for the Ending Date, click the Chart button to create a pie chart representing the Ending Date Balance values of the portfolios. If the pie chart is created from an after- tax report, option buttons are provided to cause the depicted balance values to be either before-tax or after-tax values. The after-tax value is the Ending Date Balance value minus the Balance record tax value.

 

 


Rate of Return Calculation Methods

Three methods for calculating rate of return values are provided: Daily Valuation, Modified Dietz and IRR. All are accepted by the Global Investment Performance Standards (GIPS) for use in calculating time-weighted rate of return values, i.e. values which exclude or minimize the effect of external cash flows. An ROR value which excludes the effect of external cash flows is a measure of the result of only how the money is invested whereas an ROR value which includes the effect of external cash flows is a measure of the result of both how a portfolio's money is invested and also the effect of the amount and timing of money made available for investing.

The Daily Valuation Method uses a geometric linking technique in the calculation of an exact rate of return value which minimizes or excludes the effect of external cash flows, i.e. deposits and withdrawals to and from the portfolio. The link periods are determined by the Beginning and Ending Dates and the dates of Balance records recorded for dates of cash flows. If a portfolio Balance record has been entered for each date for which deposit and withdrawal records are entered within the calculation period the Daily Valuation method excludes the effect of external cash flows. If a portfolio Balance record has been entered for each date for which ‘large’ deposit and withdrawal records are entered the Daily Valuation method minimizes the effect of external cash flows. If no portfolio Balance records have been entered for any date for which deposit and withdrawal records are entered within the calculation period the Daily Valuation result includes the effect of external cash flows. The Daily Valuation method is commonly considered a time-weighted ROR (TWRR) method.

The IRR method generates the Internal Rate of Return value which takes into account the amount and timing of all deposits to and withdrawals from the portfolio during the analysis period. The internal rate of return is the interest rate which, if in effect throughout the report period and taking into account the amount and timing of all deposits and withdrawals to and from the portfolio during the period, would cause the beginning balance to grow (or decline) to the closing balance. The IRR method is commonly considered a money-weighted ROR method.  Easy ROR Pro uses an iterative method to calculate an exact IRR.

The Modified Dietz method calculates an approximate rate of return value which includes the time and magnitude effect of deposits to and withdrawals from the portfolio. The value calculated will be close to that obtained using the IRR method if the Deposit and Withdrawal values within the calculation period are small, relative to the portfolio value.

The Modified Dietz and IRR methods can be used to calculate ROR values which minimize the effect of cash flows by calculating ‘Period Returns’, and selecting Cumulative From Beginning Date values and Geometrically Linking the Cumulative Returns.

 

 


Rate of Return Report - Period Returns

Select the 'Period Returns' Single Option Button to calculate the performance over the 'single' period defined by the selected Beginning and Ending Dates. Select either the Monthly, Quarterly or Yearly Option Button in the Period Returns frame to obtain "period" results. If the Calendar Periods check box is checked, a Monthly period is the interval from the last day of one month through the last day of the succeeding month, a Quarterly period is the 3-month interval following December 31, March 31, June 30 and September 30 and a Yearly period is the interval from December 31 of one year through December 31 of the succeeding year; if the Beginning Date is not the end of a calendar period, the first period extends from the Beginning Date through the normal period end date. If the Calendar Periods check box is not checked, the period begin and end dates are determined by the selected Beginning Date; a Monthly, Quarterly or Yearly period is the interval from the beginning day of a period through that day one month, three months or twelve months later.

If cumulative return values are also desired, check either the Cumulative From Beginning Date or Cumulative To Ending Date Check Box. Calculation of multiple period ROR values requires that Balance records in the Transaction File exist for the affected portfolios for each needed anniversary date.

If the Beginning and Ending Dates encompass multiple periods, rate of return values are calculated for each period for which beginning and ending Balance records exist; however, if a Balance record is not available for the end of the first period for a portfolio, no period returns are calculated for that portfolio.

 

 


Annualized Performance

The Annual Return is the performance over a period of an average year consisting of 365.25 days.

 

 


Rate of Return Report - Extended Report

Select Extended Report to generate a performance report which lists for each portfolio the performance during up to nine different periods. All periods end on the Ending Date. The Beginning Date of the calculation periods is determined by the selected Ending Date and the length of the Period except for the 'YTD' period for which the Beginning Date is December 31 of the year preceding the Ending Date. An 'N/A' is displayed for periods for which Balance records for both the Beginning and Ending dates do not exist. When the 'Since' check box is marked, the 'Since' date list contains dates of all selected portfolio Balance values earlier than the currently selected Ending Date.

Three Performance Annualization options are available. Select "All Periods" to cause the performance values for all periods to be annualized. Select "No Periods" to cause none of the performance values to be annualized. Select "Periods => 1 Year" to cause the performance values for only those periods equal to or greater than one year to be annualized.

When "Periods => 1 Year" is selected for Performance Annualization, the Last Month, Last Qtr and YTD periods are not available. Note that an 'N/A' will be displayed as the Since Date and/or Since Inception time period performance value for a portfolio if either period is less than one year.

Performance for each period may be calculated by geometrically linking the performance of linking periods. Three Link Interval options are available: month, quarter and year. Each Period performance is calculated by geometrically linking the performance values of the intervals within the Period. Linking Balance record requirement is determined by the Link Interval selection. If "Month" "Quarter" or "Year" is selected, Balance records must be available for the last day of each monthly, quarterly or yearly period as determined by the Ending Date. An end-of-Link Period Balance record is not required if there was no cash flow activity in either that Link Period or the Link period immediately following that date. Balance records are also required for the beginning date of each period included in the Report. For example if the Ending Date selected is September 30, 2004, and the Report is to include the most recent quarter, current year-to-date and 1-year periods, Balance records for June 30, 2004, December 31, 2003 and September 30, 2003 must be available; if Quarterly linking is to be used, Balance records for 1/31/2004 and 10/31/2003 would also be required. An entry of "N/A" is displayed for performance periods for which insufficient Balance records are available to calculate the return.

When the Extended Report selection is made, the Beginning Date selection is disabled and the Period Returns and Report Type selections are replaced by the Report Design selection.

If more than one Portfolio is selected for the report, a Composite Report is selected and the Internal ROR calculation method is selected, the data for all selected portfolios are combined and the composite rate of return for each period is calculated as if the portfolio group were a single portfolio.

If more than one Portfolio is selected for the report, a Composite Report is selected, the composite rate of return for each period may be calculated as the weighted average of the individual portfolio rate of return values. The weighting factor may be either the beginning date portfolio value of the individual portfolios (Asset Weighted) or the beginning date portfolio value plus the sum of time-discounted cash flow (Asset + Cash Flow Weighted). Cash flow amounts included in the Asset + Cash Flow weighting factor are discounted to account for the portion of the period the deposit or withdrawal amount was effective. If the time period is 1000 days and a portfolio had a $100 deposit made on the 100th day of the period, $90 is added to the weighting factor since the $100 affected 90 percent of the period. If 'Aggregate' is selected as the Composite Calculation Method, the data for all selected portfolios are combined and the composite rate of return for each period is calculated as if the portfolio group were a single portfolio.

On multi-Portfolio Composite reports, Dispersion values are displayed below the Composite return values.

The 'Invest' check box is disabled if either the Extended or Multi-Year Report is selected.

 

 


Rate of Return Report - Multi-Year Report

Select Multi-Year Report to generate a performance report which lists for each portfolio the performance during each calendar year within the period defined by the Beginning and Ending Date selections. Since the performance periods are calendar years, the performance calculation requires Balance records for December 31 of the year prior to the report year and for December 31 of the report year. When the Multi-Year Report check box is clicked, only December 31 values are included in the Beginning and Ending Date lists.

Data included on the report is determined by the selections made in the Report Design frame. Either or both of the 'Gross of Fees ROR' and/or the 'Net of Fees ROR' is/are included on all Multi-Year reports. The end-of year Balance value is included for the selected portfolios if the 'Total Assets' check box is checked. If the 'Benchmark' check box is checked the annual performance of the selected Benchmark is included.

If more than one Portfolio has been selected for the report and the 'Composite Only' check box in the Composite Report frame is not checked, the 'Percent of Total Assets' selection may be checked to cause the report to include the percent each Portfolio's Balance value is of the total Balance value for each year. If either the 'Show Each Portfolio' or the 'Composite Only' check box in the Composite Report frame is checked the 'Dispersion' check box in the Report Design frame may be checked to cause the Dispersion values to be included in the Composite portion of the report.

Check the 'After Tax' check box to cause the Portfolio ROR calculations to include the effect of existing Tax records and Tax values on Balance records.

The 'Invest' check box is disabled if either the Extended or Multi-Year Report is selected.

 

 


Rate of Return Report - Rolling Period Average Report

Select Rolling Period Average to generate a report which summarizes and averages the ROR for all 'Period Length' periods existing in the database for the selected portfolio(s).  The Period Length can be expressed as a number of months, quarters or years.  For instance, a Period Length of 4 years creates a report that lists for each selected portfolio, the performance of all 4-yr periods for which the portfolio has a Balance record on or later than the selected 'Beginning Date' and which end on or before the selected 'Ending Date'.  The Average Return values listed at the bottom of the report are the arithmetic averages of the Total Return and Annual Return values. 

The report also lists Annual ROR% Trend values for Portfolios for which at least 3 performance periods are displayed in the report.  Trend values are obtained from a linear least-squares regression drawn through the Annual ROR values vs the mid-period date values (ROR vs time).  Displayed values include the Beta (trendline slope as change in ROR per day), the Alpha (theoretical ROR of the trendline on the Beginning Date) and theoretical trendline ROR values for Ending Date, Ending Date plus 1 year and Ending Date plus 3 years.

 

 


Benchmark Rate of Return Report - Extended Report

Select Extended Report to generate a performance report which lists for each Benchmark the performance during up to seven different periods. All periods end on the Ending Date. The Beginning Date of the calculation periods is determined by the selected Ending Date and the length of the Period except for the 'YTD' period for which the Beginning Date is December 31 of the year preceding the Ending Date. An 'N/A' is displayed for periods for which Balance records for both the Beginning and Ending dates do not exist.

Three Performance Annualization options are available. Select "All Periods" to cause the performance values for all periods to be annualized. Select "No Periods" to cause none of the performance values to be annualized. Select "Periods => 1 Year" to cause the performance values for only those periods equal to or greater than one year to be annualized. When "Periods => 1 Year" is chosen the report columns which contain annualized values are indicated by an asterisk in the column heading.

When the Extended Report selection is made, the Beginning Date selection is disabled and the Period Returns selections are replaced by the Report Design selection.

 

 


Dispersion Value

The Dispersion value is the standard deviation which is reformulated 'to achieve a meaningful statistic to apply to an asset-weighted' Composite return value as described by AIMR. It is square root of the sum of the balance weighted squares of the difference between the Composite return and the individual Portfolio return. The 'balance weighting factor' is the Portfolio beginning Balance value plus the time-weighted value of Deposits and Withdrawals during the period; if the Composite Calculation Method is 'Asset Weighted' the 'balance weighting factor' is the Portfolio beginning Balance value.

The dispersion value is a measure of the deviation of the individual portfolio performance values from the composite performance. Dispersion values are not calculated if any Portfolio in the group did not have a Balance value on the Beginning Date or if a Portfolio had a zero balance on the Ending Date and did not have a Withdrawal record on that date.

 

 


Extended Report - Report Design

The Extended Rate of Return Report may display the performance since a specified date, during the most recent month, most recent quarter, current year-to-date, 1-year, 3- year, 5-year, 10-year and "Since Inception" periods. Periods checked in the Report Design frame will be included in the report. The available dates are the dates of the Balance records recorded for the selected portfolio(s). If all 9 Report Design selections are checked the 80 character report width option is disabled and the 132 character report width is selected. If 'Periods>= 1 Year' is selected for 'Performance Annualization' only those Report Design selections for periods of 1 year or greater are available.

 

 


Extended Report - Report Design

The Extended Rate of Return Report may display the Benchmark performance during the most recent month, most recent quarter, current year-to-date, 1-year, 3-year, 5-year and 10-year periods. Periods checked in the Report Design frame will be included in the report. The available dates are the dates for which Benchmark values have been recorded for the currently selected Benchmark(s). If 'Periods>= 1 Year' is selected for 'Performance Annualization' only those Report Design selections for periods of 1 year or greater are available.

 

 


Rate of Return Report - Report Type

Select either the Report Type Summary or Detail Option Button to indicate the report type wanted. The Summary report lists only the portfolio value on the beginning and ending dates and the portfolio rate of return. The Detail report lists the Portfolio cash deposit and withdrawal activity and tax and/or fee amounts in addition to the data listed on the Summary report.

 

 


Rate of Return Report - Report Width

After-Tax Summary type Rate of Return reports can be created in either an 80 or 132 character format. The wide format uses one line to display the same data displayed on two lines in the 80-character format. The Extended Report is available in only the 132- character format if all 9 Report Design selections are checked. When printing a wide- format report on 8-1/2 inch wide paper, be sure to use a condensed print (16 to 17 cpi) fixed pitch font to prevent the report from scrolling.

 

 


Report Entry Preset

The preset selections enable you to save up to three Report Entry settings layouts for future use. The Report Entry settings saved are all selections other than those in the Portfolio and Active Benchmark Selection frames and Beginning and Ending Date frames.

To save the current Report Entry settings check either the A, B or C check box in the Report Entry Preset frame and then click Save.

If either the A, B or C check box is checked when the Report Entry screen is closed that check box will be checked the next time the Report Entry screen is opened and the settings will be set as saved for that preset selection. Un-checking a Preset check box causes the Report Entry settings to be set to a basic layout.

 

 


Rate of Return Report - Portfolio/Account Selection

If with Portfolio ID is selected, Rate of Return Reports can be created for a single specified portfolio or for each of a group of specified portfolios. If with Account Number is selected, Rate of Return Reports can be created whose results are the composite of the Portfolios sharing a single specified Account Number or for each of a group of specified Accounts. Select from the Portfolio/Account Selection List Box the portfolio/account(s) you want included in the report. Double-clicking any Portfolio ID/Account causes all portfolios/accounts to be selected for inclusion in the report. Multiple portfolios/accounts can be selected by depressing the Ctrl key while clicking on a portfolio/account entry in the Portfolio/Account Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used (if 'with Portfolio ID' was selected) to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio/Account Group selection may be used to select portfolios/Accounts by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Rate of Return Report - Benchmark Selection

The Rate of Return Report includes the performance of selected Benchmarks for comparison against the performance of each selected portfolio. Double-clicking the list causes all Benchmarks to be selected for inclusion in the report. Multiple Benchmarks can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Benchmark Selection List Box. Click the Clear Selections command button to clear all Benchmark selections.

The Benchmark Type list may be used to cause all Benchmarks to which the selected Type has been assigned to be selected.

A previously saved Benchmark Group selection may be used to select Benchmarks by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

Clicking the Amend List button causes the Benchmark Selection list to be displayed to enable you to change the Active/Inactive settings of the Benchmarks.

Benchmarks included in the Benchmark Selection are those are marked as 'Active'.

If the 'Invest' check box is not checked the Benchmark performance calculated for the report is the rate of return of the selected Benchmarks over the time period defined by the Portfolio beginning and ending dates.

If the 'Invest' check box is checked the Benchmark performance calculated for the report is that which would have resulted if the Portfolio balance value on the Beginning Date had been invested in the Benchmark, Portfolio Deposits had been used to buy additional Benchmark shares and Benchmark shares had been sold to match Portfolio Withdrawals within the calculation period and the Ending Date value of the theoretical Benchmark holding is calculated as the product of the theoretical Benchmark quantity times the Ending Date Benchmark price. If the Portfolio Beginning Date value, Portfolio Deposit/Withdrawal activity and Benchmark prices are such that the calculated Ending Date Benchmark quantity is negative and the sum of the Portfolio Beginning Date value plus the sum of the Withdrawal amounts minus the sum of the Deposit amounts is a less negative value a Benchmark performance value cannot be calculated; performance values of 'N/A' are therefore displayed.

When the 'Invest' check box is checked the Special Report selections are not available and the 'Graph' buttons are not included on the Rate of Return report.

The 'Invest' check box is not available when a Special Report selection is made.

The beginning and ending dates for the Benchmark performance calculation are the same as the dates of the beginning and ending date Balance records used for the portfolio performance calculation. If Benchmark values for those dates are not available in the Benchmark Value file, Easy ROR will use the value of the next prior date, up to 3 days prior to the beginning and ending dates. The purpose for the Benchmark value substitution is to recognize that the report beginning and/or ending date could be a weekend or holiday. If a necessary Benchmark value is not available, you will be prompted that Easy ROR will download the needed values from Russell.com and/or Yahoo.com.

 

 


Benchmark - Add

This function is accessed from the Main Menu Benchmark>Benchmark>Add Benchmark selection.

To create a new Benchmark enter a Benchmark Symbol of up to 9 characters and a Benchmark Name of up to 30 characters and click Save.

To be effective, the Benchmark Symbol must be a symbol that Yahoo!® recognizes as a valid symbol. Whether it represents a stock, mutual fund or an Index, Easy ROR will refer to it as a 'Benchmark'.

Indexes for which Yahoo!® provides price values may be added by using the Benchmark>Benchmark>Add Yahoo Index selection. Note that Yahoo!® index values may not include the effect of dividends.

Exchange Traded Funds for which Yahoo!® provides price values may be added by using the Benchmark>Benchmark>Add Yahoo ETF selection

The Type and Memo entries are optional fields.

 

 


Benchmark - Add Yahoo!® Index

This function is accessed from the Main Menu Benchmark>Benchmark> Add Yahoo Index. Indexes whose values may be downloaded from Yahoo.com may be selected to be included as Benchmarks. Note that Index values downloaded from Yahoo!® include effect of splits but not the effect of distributions. Highlight the desired Index(es) and click the 'Add to Benchmark List' button to include them as Benchmarks.

Use the Benchmark>Benchmark>Add Benchmark function to add other securities, mutual funds, etc. for use as Benchmarks. Use the Benchmark>Benchmark>Change/Delete Benchmark function to delete a Benchmark from the Benchmark list.

 

 


Benchmark - Add Yahoo!® ETF

This function is accessed from the Main Menu Benchmark>Benchmark> Add Yahoo ETF. The name, symbol, family and category of Exchange Traded Funds whose values may be downloaded from Yahoo.com are displayed in name order. The display order may be changed by clicking the desired 'Display Order' button. The list may be limited to ETF's in a single ETF Category by selecting that category from the drop down list. To select all ETF's whose Name, Symbol, Family and/or Category contains a particular alpha-numeric string, enter that string in the 'Search String' text box and click 'Search'. ETF(s) may also be selected by clicking, Shift-clicking or Ctrl- clicking ETF's. Click the 'Add to Benchmark List' button to include selected ETF's as Benchmarks.

Use the Benchmark>Benchmark>Add Benchmark function to add other securities, mutual funds, etc. for use as Benchmarks. Use the Benchmark>Benchmark>Change/Delete Benchmark function to delete a Benchmark from the Benchmark list.

 

 


Benchmark - Change/Delete

This function is accessed from the Main Menu Benchmark>Benchmark>Change/Delete selection.

Select an existing Benchmark and then click OK to open the Change/Delete Benchmark screen. All Benchmark values except the Benchmark Symbol may be edited. Click Save to new settings or click Delete to delete Benchmark.

 

 


Blended Benchmark - Add / Change

You may create a 'blended' Benchmark which represents the composite performance of two to ten Benchmarks.

To create a new Blended Benchmark, select Benchmark>Blended Benchmark>Add from the Main Menu. To create a blended Benchmark, enter percent values (which must total 100) for the desired Benchmarks, enter a name (up to 30 characters) for the Blended Benchmark and click 'Save'.

To edit an existing Blended Benchmark, select Benchmark>Blended Benchmark>Change from the Main Menu. All properties of the blended Benchmark may be changed including the Benchmark Name, Benchmarks included in the Blended Benchmark and the percent values of the included Benchmarks.

 

 


Benchmark Type

Selecting a Benchmark Type causes all Benchmarks in the Benchmark Selection list to be selected (highlighted). Selecting 'None' causes selection of those Benchmarks to which no Type has been assigned. The Main Menu Benchmark>Type & Active/Inactive Settings selection opens a function in which the Type setting for Benchmarks to be set or changed. This function can also be accessed by clicking the Amend List command button in the Benchmark Selection frame.

 

 


Benchmark Type Use

If desired, a Benchmark Type may be assigned to a Benchmark. Two Easy ROR functions use the Benchmark Type assignments. When using the Main Menu Benchmark>Type & Active/Inactive Settings selection, the Benchmark listing may be sorted by Benchmark Type. Selecting a Benchmark Type from the Benchmark Type list in the Benchmark Selection frame in the ROR Report Entry window causes all Benchmarks having the selected Benchmark Type assignment to be selected.

Up to 43 different Benchmark Types may be created using the Main Menu Benchmark>Benchmark>Add Benchmark function.

 

 


Benchmark Type & Active/Inactive Settings

The Main Menu Benchmark>Type & Active/Inactive Settings selection generates a grid containing the Benchmark Name, Benchmark Type and Active/Inactive setting of all Benchmarks. The list is initially sorted in Name order but can also be sorted in Type and Active/Inactive setting order by indicating the desired sort order in the Grid Display Order frame. Double-clicking a selected order causes the alphabetic order to be reversed.

To assign a Benchmark Type to a Benchmark or to change the Benchmark Type setting of a Benchmark, select the desired Benchmark Type from the Benchmark Type dropdown list at the top of the screen and then click in the Benchmark Type cell of a Benchmark to assign that Type to the selected Benchmark. If the Benchmark Type in the dropdown list is blank, a blank will be assigned as the Benchmark Type.

To change the Active/Inactive setting of a Benchmark, click the Benchmark Name cell or the Active/Inactive cell of that Benchmark to toggle the setting.

To edit a Benchmark name in the list open the Benchmark>Benchmark>Change/Delete Benchmark function, select the Benchmark in question, click OK, edit the Benchmark Name in the Change/Delete Benchmark screen and then click Save.

Click the Remove button to remove from the list Benchmarks marked with an "X" in the Remove column. Click the Remove cell for a Benchmark to insert or erase an "X" in the cell. Click Remove column heading for option to either mark all Remove cells with an "X" or to erase all marks from Remove cells. A Benchmark can also be removed from the list by opening the Benchmark>Benchmark>Change/Delete Benchmark function, select the Benchmark to be removed, click OK and then click Delete on the Change/Delete Benchmark window. The Russell and initial iShare Benchmarks cannot be removed from the list.

 

 


Benchmark Group

A Benchmark group selection may be saved for future use by clicking the New button to create a blank text field in the Benchmark Group Text Box, entering a name (up to 9 characters) in the blank field and then clicking the Save command button. A previously saved Benchmark Group selection may be used by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name. Clicking the Benchmark Group Delete button deletes a Benchmark Group from the list. To change the Benchmarks included in an existing group, select that group, make the desired changes to the Benchmark selections and then click the Save button.

 

 


Benchmark List

The Benchmark List displays those Benchmarks which have been indicated as 'Active'. To cause a Benchmark to be included in the list, you must change its Active/Inactive setting to 'Active' and to remove a Benchmark from the list you must change its setting to 'Inactive'. To edit a Benchmark's Active/Inactive setting, click the Amend List button in the Active Benchmark Selection frame or select Benchmark>Type & Active/Inactive Settings from the Main Menu.

 

 


Volatility Report

To open the Volatility Report Entry screen, select either with Portfolio ID or with Account Number from the Performance> Volatility menu. The Volatility Report provides values which quantify two measures of Portfolio performance volatility during a specified date range. The Portfolio Volatility value is a measure of the variation of the portfolio's performance during each of the Performance Periods. The Beta value is a measure of the variation in the portfolio's performance with respect to that of a selected Benchmark during each of the Performance Periods. The annualized Benchmark and Portfolio performance over the report period, the Sharpe Ratio for each Portfolio, the arithmetic average of portfolio performance values and the standard deviation of these performance values are also calculated.

The Portfolio ROR value (Pf ROR) is the annualized return over the total date range of the report The Portfolio Volatility value is calculated by dividing the standard deviation of the Portfolio ROR values for the weekly, monthly, or quarterly periods within the specified date range by the arithmetic average of those values. The same performance periods used for the Portfolio vs. Benchmark Volatility calculations are used for the Portfolio Volatility calculation. A low value indicates low volatility. The volatility value would be zero if the ROR for all periods were equal.

To calculate Portfolio performance volatility with respect to that of selected Benchmarks, both Portfolio and Benchmark performance values are calculated for successive weekly, monthly, or quarterly periods (for which Portfolio and Benchmark values exist on both the beginning and ending dates of that period) within the specified date range. The Portfolio volatility with respect to Benchmark performance is expressed by the value labeled Beta. The Beta value is the slope of the least mean square straight line drawn through the annualized performance data points as if they had been plotted on a graph with the x-axis representing the Benchmark performance and the y-axis representing the Portfolio performance. A Beta of zero indicates that the Portfolio performance shows no statistical variation with respect to Benchmark performance. A portfolio whose performance in every period was the same (always 2% or 50% or any value) would have a Beta of zero. A Beta value of 1 indicates the Portfolio performance volatility is equal to that of the Benchmark. A Beta value greater than 1 indicates the Portfolio performance is more volatile than the Benchmark performance and a Beta value between 0 and 1 indicates the Portfolio performance is less volatile than the Benchmark performance. A negative Beta indicates the Portfolio performance tends to increase when the Benchmark performance decreases and decreases when the Benchmark performance increases. The Alpha value is the y-axis intercept of the least mean square straight line; it is the theoretical annualized Portfolio return when the Benchmark return is zero. Benchmark, Portfolio and T-Bill return values used to calculate portfolio volatility are written to a text file {Vol}.tmp saved in the folder in which Easy ROR is loaded.

If each of the data points lies on the straight line drawn through the points the correlation of Portfolio performance to Benchmark performance is perfect and the R- Squared value is 1. If the R-squared value is between 1 and approximately 0.3 the Beta value can be considered as mathematically meaningful. If there is no correlation between Portfolio and Benchmark performance the R-squared value is zero and the Beta value is mathematically meaningless. Actual R-squared values will be between zero and one.

The Maximum 'Performance Periods' value is the number of calculation periods within the report date range. A report covering a 2-year date range using monthly data would have a maximum of 24 'Performance Periods'. If the data recorded for a Portfolio was such that only 5 monthly periods (Actual Performance Periods) could be used for Volatility calculations, the results would be much less meaningful for that Portfolio than those for a Portfolio for which 24 monthly periods were used.

The (Ex Post) Sharpe Ratio value is calculated as described by William F. Sharpe in the Fall1994 issue of The Journal of Portfolio Management. The Sharpe Ratio is calculated by first tabulating the difference between the annualized portfolio performance and the annualized performance of a risk-free investment for each period in the report date span and then dividing the average difference by the standard deviation (a measure of volatility) of those difference values. The risk-free investment employed in this program is either the 3-month or 6-month Treasury Bill as reported by the Board of Governors of the Federal Reserve System. This value is used to compare the risk/reward profile of different investing strategies; the higher the Sharpe Ratio, the better. Note that other programs and sources calculate values identified as 'Sharpe Ratio' and some may use a different calculation procedure which may result in values considerably different from those obtained using the method described above. Since the Sharpe Ratio is used to rank the risk/reward profile of different portfolios, it is essential that the same Sharpe Ratio calculation method be used for each portfolio being evaluated.

The Jensen's Alpha value is the difference between the annualized Portfolio ROR and the annualized Capital Asset Pricing Model (CAPM) ROR. The (CAPM) ROR is the 'risk free' ROR plus Beta times the difference between the Benchmark ROR and the 'risk free' ROR. Either the 3-month or 6-month Treasury Bill as selected for use in the Sharpe Ratio calculation is used to calculate the 'risk free' ROR.

Since annualized Benchmark and Portfolio performance values over the entire report period are included in the report, Portfolios and Benchmarks included in the report must have recorded values for both the Beginning and Ending dates (a non zero Balance on the Beginning Date). If the report Beginning and/or Ending date is a Saturday or Sunday and a value is not available for that date, the previous Friday or Saturday value, if available, is used. If the report Beginning and/or Ending date is a holiday* and a value is not available for that date, the previous weekday value, if available, is used. The same weekend/holiday substitution procedure is used, if necessary, when calculating Portfolio and Benchmark performance for the intermediate periods.

When the report is first generated the portfolios are listed in order of ascending Beta values. Clicking on any field in a column causes the report to be reordered based on the values in that column. Clicking again on any field in that column causes the report to be reordered in reverse order of the values in that column. The entries in the column on which the report order is based are displayed in red.

Portfolio/Account Selection - ALL, Single ID, Multiple ID's, Wild Card Entry, Portfolio Group
Benchmark Selection - ALL, Single or Multiple Benchmarks, Benchmark Type Entry, Benchmark Group
Beginning Date - Report Beginning Date
Ending Date - Report Ending Date
ROR Method - Daily Valuation, Modified Dietz, IRR
Composite Report - Yes or No
Composite Calculation Method - Asset Weighted, Asset + Cash Flow, Aggregate
Performance Data - Weekly, Monthly, Quarterly Records
Sharpe Ratio Parameter - 3-Month Treasury Bill, 6-Month Treasury Bill
Net of Fees - Yes or No
Report Mode - Display or Print
Report Entry Preset - A,B,C,Save

*Holidays for which previous trading day values are used, if necessary, include New Year's Day, Martin Luther King Jr. Day, Presidents Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas.

 

 


Volatility Report - Portfolio/Account Selection

If with Portfolio ID is selected, Volatility Reports can be created for a single specified portfolio or for each of a group of specified portfolios. If with Account Number is selected, Volatility can be created whose results are the composite of the Portfolios sharing a single specified Account Number or for each of a group of specified Accounts. Select from the Portfolio/Account Selection List Box the portfolio/account(s) you want included in the report. Double-clicking any Portfolio ID/Account causes all portfolios/accounts to be selected for inclusion in the report. Multiple portfolios/accounts can be selected by depressing the Ctrl key while clicking on a portfolio/account entry in the Portfolio/Account Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used (if 'with Portfolio ID' was selected) to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio/Account Group selection may be used to select portfolios/Accounts by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Volatility Report - Benchmark Selection

The Volatility Report calculates the volatility of the selected portfolios against that of each selected Benchmark. Double-clicking the list causes all Benchmarks to be selected for inclusion in the report. Multiple Benchmarks can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Benchmark Selection List Box. Click the Clear Selections command button to clear all Benchmark selections.

The Benchmark Type list may be used to cause all Benchmarks to which the selected Type has been assigned to be selected.

A previously saved Benchmark Group selection may be used to select Benchmarks by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

Benchmarks included in the Benchmark Selection list are those which have been marked as 'Active'.

The beginning and ending dates for the Benchmark performance calculation are the same as the dates of the beginning and ending date Balance records used for the portfolio performance calculation. If Benchmark values for those dates are not available in the Benchmark Value file, Easy ROR will use the value of the next prior date, up to 3 days prior to the beginning and ending dates. The purpose for the Benchmark value substitution is to recognize that the report beginning and/or ending date could be a weekend or holiday. If a necessary Benchmark value is not available, you will be prompted that Easy ROR will download the needed values from Russell.com and/or Yahoo.com.

 

 


Volatility Report - Beginning & Ending Dates

The Beginning Date and Ending Date drop down lists contain the Balance record dates pertaining to the currently selected portfolio(s). Beginning Dates listed are those earlier than the currently selected Ending Date. Ending Dates listed are those later than the currently selected Beginning Date.

Since a Balance record is interpreted by Easy ROR to be the value of a portfolio at the end of the day on the record date, to obtain the portfolio volatility for the calendar year 2005, the Beginning and Ending Dates should be 12-31-2004 and 12-31-2005, respectively.

The OK button is enabled when the Beginning and Ending Date selections are compatible with the Performance Data period (Monthly, Quarterly or Weekly) selection. If Monthly is selected, the OK button is enabled when the date span is at least 3 months and either the day of the month of the Beginning Date is the same as the day of the month of the Ending Date or both dates are end-of-month dates. If Quarterly is selected, the OK button is enabled when the date span is exactly 3 or more quarters, i.e. 9 months, 12 months, 15 months, etc. and either the day of the month of the Beginning Date is the same as the day of the month of the Ending Date or both dates are end-of-month dates. If Weekly is selected, the OK button is enabled when the date span is at least 3 weeks and the day of the week of the Beginning Date is the same as the day of the week of the Ending Date.

 

 


Volatility Report - Composite Report

If more than one portfolio has been selected for the report, you may check the Composite Report check box to cause the report to calculate volatility values for the selected portfolios as a composite group rather than individually. Each portfolio selected must have Balance records recorded for both the beginning and ending dates of each calculation period within the report period. Select either Asset Weighted, Asset Plus Cash Flow or Aggregate as the method for calculating the composite performance.

If with Portfolio ID was selected, a Composite Volatility report can be generated only if all selected portfolios existed during the entire selected date range.

If with Account Number was selected, a Volatility report can be generated even if all portfolios comprising the Account did not exist throughout the report date range, however, the volatility values will be based on only those periods (Actual Performance Periods) during which all portfolios existed; the Portfolio ROR (Pf ROR) value will be the return over the total report date range.

 

 


Asset Weighted Composite Performance

The composite performance is calculated as the weighted average of the individual portfolio performance values using the beginning date portfolio value of the individual portfolios as the weighting factor.

 

 


Asset Plus Cash Flow Weighted Composite Performance

The composite performance is calculated as the weighted average of the individual portfolio performance values using the beginning date portfolio value of the individual portfolios plus the time weighted cash flows as the weighting factor. Cash flow amounts included in the Asset + Cash Flow weighting factor are discounted to account for the portion of the calculation period the deposit or withdrawal amount was effective. If the time period covered by a calculation is 30 days and a portfolio had a $100 deposit made on the 27th day of the period, $10 is added to the weighting factor since the $100 was in the portfolio for 3 days or 10 percent of the period.

 

 


Aggregate Composite Performance

The composite performance calculations are made using the Transaction and Portfolio records of the selected portfolios as though they were in a single composite portfolio.

 

 


Volatility Report - Composite Calculation Method

If the Composite Report check box has been checked, you must select the method to be used to calculate the composite performance of the selected portfolios. Select either Asset Weighted, Asset Plus Cash Flow or Aggregate as the method for calculating composite performance.

 

 


Volatility Report - Performance Data

Portfolio volatility over the Beginning to Ending Date range is calculated by calculating the portfolio performance over intermediate periods within the overall report date range. The intermediate periods may be weekly, monthly or quarterly.

If a Performance Data selection of 'Monthly' is made, the first possible monthly period begins on the report Beginning Date. The second possible monthly period begins at end of the first period. If the report date range encompasses 2 years, a maximum of 24 calculation periods is possible. The Actual number of calculation periods used for the Beta, R-Squared, Average Portfolio ROR and Average ROR Standard Deviation values depends on portfolio Balance record and Benchmark value availability. For a calculation period to be usable, portfolio Balance and Benchmark values must be available for both the beginning and ending dates of that period. If a calculation period beginning or ending date is a Saturday or Sunday and a value is not available for that date, the previous Friday or Saturday value, if available, is used. If a calculation period beginning and/or ending date is a holiday* and a value is not available for that date, the previous weekday value, if available, is used.

*Holidays for which previous trading day values are used, if necessary, include New Year's Day, Martin Luther King Jr. Day, Presidents Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas.

 

 


Volatility Report - Sharpe Ratio Parameter

The Sharpe Ratio is calculated by comparing the portfolio performance over the various intermediate periods within the report date range with the return on a risk-free investment as of the beginning date of each intermediate period. The 3-month and 6- month Treasury Bills are commonly used to represent the return on a risk-free investment. These rates are obtained from the Board of Governors of the Federal Reserve System.

 

 


Volatility Report - Net of Fees

Select the Net of Fees Check Box (Check Box includes an "X") to cause the report to use net of fees rate of return values. For the net of fees rate of return calculation, the Program treats Fee records during the report period as portfolio deposits.

 

 


Volatility Report - Report Mode

Select Display to have the report displayed or select Print to have the report printed to file or to a printer without first being displayed. Displayed reports can be printed by clicking the Print command button on the display window.

 

 


Benchmark Type - Add/Change/Delete

Use the Main Menu Benchmark>Benchmark Types selection to add, change or delete Benchmark Types. You may create as many as 43 Benchmark Types.

To create a new Benchmark Type, click New, enter the desired Benchmark Type in the blank text field and then click Save.

To change an existing Benchmark Type, select it from the list, edit the list entry and then click Save.

To delete an existing Benchmark Type, select it from the list and click Delete.

 

 


Download Benchmark Values

Use the Main Menu Benchmark>Download Benchmark Values selection to download Benchmark values. Since all values change when a component of an index makes a distribution or splits, this download function deletes all existing values and replaces them with the new downloaded values. All benchmark data is downloaded from Yahoo.Com. Use of this data must comply with terms set by Yahoo! Inc.

Use of this function is generally unnecessary since, when a Rate of Return Report is created and you have selected one or more Benchmarks whose performance is to be included in the report and the necessary Benchmark values are not already in your computer, Easy ROR will ask if you want to download the necessary values and, if so, will download them.

Note that values downloaded from Yahoo.Com for the 13-Week Treasury Bill (^IRX), CBOE Interest Rate 10-Year T-Note (^TNX), Treasury Yield 30 Years (^TYX) and Treasury Yield 5 Years (^FVX) are annual percent values.  The Yahoo!® data does not include percent values for weekends and holidays.  Since use of ‘annual percent value’ data to calculate performance over periods which include weekends and holidays requires values for those days, Easy ROR assumes the values for these days based on the reported values on the days immediately prior to and after the days with the missing values.  All other Yahoo!® Index values are ‘dollars per share’ values.  When a weekend or holiday value is required for a performance calculation for these indices Easy ROR assumes the weekend/holiday value is the same as the immediately preceding reported value.

 

 


Manual Pricing

Use the Main Menu Benchmark>Manual Pricing selection to enter Benchmark values for an existing Benchmark or to edit or delete existing values. When Benchmark values are downloaded, all existing values are deleted and replaced by the downloaded values.

One Benchmark

The Benchmark>Manual Pricing>One Benchmark function is used to edit or delete existing Benchmark values and to add new values. The Benchmarks included in the Benchmark selection list are limited to those which have been indicated as 'Active' except that values cannot be manually entered for Russell indexes or for Treasury indexes, ^FVX, ^IRX, ^TNX and ^TYX.

Use the top row of the grid to enter prices for dates not already in the file. Existing values may be edited.

Multiple Benchmarks

The Benchmark>Manual Pricing>Multiple Benchmarks function is used to add new or edit existing Benchmark values. Benchmarks included in the update list may be limited to those having a specified Benchmark Type and to those which are marked as Active except that values cannot be manually entered for Russell indexes or for Treasury indexes, ^FVX, ^IRX, ^TNX and ^TYX.

When the 'Use fixed Price Date' checkbox is checked and OK is clicked the selected Price Date is the default Price Date on the resulting screen. Any entry into a 'Value' column causes the selected Price Date to be assigned to the new value for that Benchmark. When the Enter key is pressed the Benchmark record is edited to include the new date and price. If no new Value entry is made for a Benchmark, the Date value is not changed. The Date on the Manual Pricing grid cannot be edited when the 'Use fixed Price Date' checkbox on the previous screen is checked. This option would be used when all of the new values to be entered have the same Date.

When the 'Use fixed Price Date' checkbox is not checked, the Price Date frame is eliminated from the initial screen. When OK is clicked entries can be made in both the Date and Value columns on the resulting grid. Pressing Enter with the cursor in a Value cell causes the Benchmark record to be edited to include the new date and value and advances the data entry field to the next Benchmark. This option would be used when the new values being entered have different Dates.

The Values and Dates displayed on the grid are obtained from the Benchmark records. Pressing the Up or Down Arrow key moves the data entry field without recording a new record.

 

 


Benchmark Values

Index values downloaded from Russell.com and individual stock values downloaded from Yahoo.com have been adjusted for subsequent splits and distributions. Benchmark performance calculated from these values, therefore, include the effect of distributions as well as capital gain. Index values available at Yahoo.com may not have been adjusted for distributions.

 

 


Benchmark Listing

Use the Main Menu Listings>Benchmarks selection to create a report which lists the Benchmark Name, Benchmark ID, Benchmark Type, Active/Inactive setting and Comments of all Benchmarks.

 

 


Benchmark Value Listing

Use the Main Menu Listings>Benchmark Values selection to create a report listing the values of selected Benchmarks over a selected time period. The list from which to choose Benchmarks includes only those Benchmarks for which values have been either downloaded or entered manually.

 

 


Benchmark Value Listing - Benchmark Selection

Benchmark Values for a single specified Benchmark or for each of a group of specified Benchmarks can be listed. Select from the Benchmark Selection List Box the Benchmark(s) whose data you want to list. Double-clicking any Benchmark causes all Benchmarks to be selected. Multiple Benchmarks can be selected by depressing the Ctrl key while clicking on a Benchmark entry in the Benchmark Selection List Box.

The Benchmark Type list may be used to cause all Benchmarks to which the selected Type has been assigned to be selected.

A previously saved Benchmark Group selection may be used to select Benchmarks by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

Benchmarks included in the Benchmark Selection list are only those Benchmarks for which values have been either downloaded or entered manually.

 

 


Benchmark Rate of Return Report

This report shows the rate of return of the selected Benchmarks over the selected time range. The report shows both the 'Total Return', the total percentage gain/loss over the selected time range and the annualized value of that performance, 'Annual ROR'. Note that the term 'Total Return' on this report indicates the values represent the non- annualized performance over a 'total' date range and not that they necessarily include the effect of distributions. Index values obtained from Russell® include the effect of distributions; Index values obtained from Yahoo!®, including those for Russell® indexes, do not.

Benchmarks included in the list are those which have at least two values recorded in the data file. The dates available in the Beginning and Ending Date lists are dates for which values are recorded for the selected Benchmarks.

Click the Name option button above the list to cause the list to sorted alphabetically in Benchmark Name order or click the Type option button to cause the list to sorted in Type order. Double-clicking any Index causes all Benchmarks to be selected. Multiple Benchmarks can be selected by depressing the Ctrl key while clicking on a Benchmark entry in the Benchmark Selection List Box.

When more than one Benchmark is selected for the report, only those Benchmarks which have values recorded for both the Beginning and Ending Dates are included in the report.

The Benchmark Type list may be used to cause all Benchmarks to which the selected Type has been assigned to be selected.

A previously saved Benchmark Group selection may be used to select Benchmarks by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Rate of Return Report - Beginning & Ending Dates

The Beginning Date and Ending Date drop down lists contain the Balance record dates pertaining to the currently selected portfolio(s). Beginning Dates listed are those earlier than the currently selected Ending Date. Ending Dates listed are those later than the currently selected Beginning Date.

Since a Balance record is interpreted by Easy ROR to be the value of a portfolio at the end of the day on the record date, to obtain the rate of return for the calendar year 2004, the Beginning and Ending Dates should be 12-31-2003 and 12-31-2004, respectively.

The Beginning Date entry also establishes Period Returns anniversary dates.

Clicking the MTD(Month to Date), QTD(Quarter to Date) or YTD(Year to Date) button sets the Beginning Date to the date which, based on the current Ending Date selection, will result in a Month to Date, Quarter to Date or Year to Date rate of return report. If MTD is selected the Beginning Date is set to the last day of the previous month. If QTD is selected the Beginning Date is set to the last day of the previous quarter (either March 31, June 30, September 30 or December 31). If YTD is selected the Beginning Date is set to the last day of the previous year. If, based on the currently selected Ending Date, the last day of the previous month is not included in the Beginning Date list, the MTD button is dimmed. Correspondingly, the QTD and/or YTD buttons are also dimmed if the necessary Beginning Date is not available in the Beginning Date list. All three buttons are dimmed if the Period Returns selection is not 'Single' or if the 'Multi- Year' Special Report is selected.

 

 


Rate of Return Report - Before/After Tax

Select the Before/After Tax Check Box (Check Box includes an "X") to cause the report to include rate of return values both before and after taxes; if the Before/After Tax Check Box is not selected, the report calculates only before-tax values. For the after-tax normal rate of return calculation, the Program adjusts the beginning and closing balances by the values in the Tax Amount fields (if any) on the Beginning and Ending Date Balance records; in addition, Tax records during the report period are treated as portfolio deposits in calculating the after-tax rate of return.

 

 


Rate of Return Report - Net of Fees

Select the Net of Fees Check Box (Check Box includes an "X") to cause the report to calculate net of fees rate of return values. For the net of fees rate of return calculation, the Program treats Fee records during the report period as portfolio deposits.

In addition to Beginning and Ending Date Balance values and performance values, the 80-character Detail report includes Deposit/Withdrawal and Fee records; the 132-character Detail report includes these values and also includes the portfolio Net of Fees Gain/Loss value.

 

 


Rate of Return Report - Gross/Net of Fees

Select the Gross/Net of Fees Check Box (Check Box includes an "X") to cause the report to calculate both gross and net of fees rate of return values. For the net of fees rate of return calculation, the Program treats Fee records during the report period as portfolio deposits.

In addition to Beginning and Ending Date Balance values and performance values, the 80-character Detail report includes Deposit/Withdrawal and Fee records; the 132-character Detail report includes these values and also includes the portfolio Net of Fees Gain/Loss value.

 

 


Rate of Return Report - Include Cents

Select the Include Cents Check Box (Check Box includes an "X") to cause currency values in the report to include cents. If the Include Cents Check Box is not selected, currency values are rounded to the nearest whole number for display.

 

 


Rate of Return Report - Compounding Frequency

Select from the Compounding Freq Option Buttons the desired compounding frequency to be used in rate of return calculations. Rate of return values may be calculated using compounding frequencies of daily or annual. For compounding calculations, the number of days in a time period is the actual number of days including the effect of leap years and a year is assumed to contain 365.25 days. The period defined by beginning and ending dates of 12-31-93 and 12-31-94 contains 365 days but in annual compounding calculations is considered to comprise .9993 years (365/365.25); the period defined by 12-31-90 and 12-31-94 comprises 4.0000 years (1461/365.25).

 

 


Rate of Return Report - Geometrically Linked Cumulative Returns

When either the Monthly, Quarterly or Yearly Period Return button is selected rather than Single, the Cumulative From Beginning Date and Cumulative To End Date check boxes are enabled. If either of these is checked, two methods are available for calculating the cumulative performance values.

If the Check Box captioned Geometrically Linked Cumulative Returns is checked, the Cumulative "Total Return" values are calculated by geometrically combining the intermediate (Monthly, Quarterly or Yearly) values; the cumulative "Total Return" values are annualized to determine the cumulative "Annual ROR" values. If a 'Period Return' selection of 'Yearly' has been made and the Geometrically Linked Cumulative Returns box is checked, 'Average Annualized' ROR values are calculated for the "cumulative" period intervals, i.e. the intervals starting on the beginning date of the period and ending on the report "Ending Date". The 'Average Annualized' values are the arithmetic average of the "Annualized ROR" values since the period beginning date.

If the 'Geometrically Linked' Check Box is not checked, the Cumulative "Annualized ROR" values are calculated using the transaction data between the beginning date and the intermediate dates; the cumulative "Annualized ROR" values are used to calculate the cumulative "Total Return" values.

 

 


Rate of Return Report - Cumulative From Beginning Date

When a Period Returns selection other than "Single" has been made, the performance of each period (month, quarter or year) within the selected date span is calculated. Check the Cumulative From Beginning Date Check Box to also calculate the rate of return from the initial period Beginning Date to the end of each period (month, quarter or year).

If the performance of a single portfolio is being calculated and a Period Returns selection of "Annual" has been made, "Average Annual" return values are calculated for the "cumulative" period intervals, i.e. the intervals starting on the "Beginning Date" and ending on the end-of-period date of the current interval. The "Average Annual" values are the arithmetic average of the "Annual ROR" values since the Beginning Date. "Total Return" (the return over the total period) and "Annual ROR" (the annualized return for the period) values are calculated for all reports.

 

 


Rate of Return Report - Cumulative To Ending Date

When a Period Returns selection other than "Single" has been made, the performance of each period (month, quarter or year) within the selected date span is calculated. Check the Cumulative To Ending Date Check Box to also calculate the rate of return from the beginning date of each period (month, quarter or year) to the end date of the latest period in the report.

If the performance of a single portfolio is being calculated and a Period Returns selection of "Annual" has been made, "Average Annual" return values are calculated for the "cumulative" period intervals, i.e. the intervals starting on the beginning date of the period and ending on the report "Ending Date". The "Average Annual" values are the arithmetic average of the "Annual ROR" values since the beginning date of the period. "Total Return" (the return over the total period) and "Annual ROR" (the annualized return for the period) values are calculated for all reports.

 

 


Rate of Return Report - Composite Report

When multiple portfolios have been selected and either the Show Each Portfolio or Composite Only Check Box is marked, depending on Balance record requirements, rate of return values are calculated for a composite of the selected portfolios. If the Show Each Portfolio Check Box is marked the report also includes rate of return values for each selected portfolio. If the Composite Only Check Box is marked, only the composite rate of return value is displayed. If the Balance record requirements are not met, no report is generated since a composite performance cannot be calculated.

Composite "Asset-weighted" Rate of Return Report

The composite rate of return may be calculated as the weighted average of the individual portfolio rate of return values. The weighting factor may be either the beginning date portfolio value of the individual portfolios (Asset Weighted) or the beginning date portfolio value plus the sum of time-discounted cash flow (Asset + Cash Flow Weighted). Cash flow amounts included in the Asset + Cash Flow weighting factor are discounted to account for the portion of the report period the deposit or withdrawal amount was effective. If the time period covered by a report is 1000 days and a portfolio had a $100 deposit made on the 100th day of the period, $90 is added to the weighting factor since the $100 affected 90 percent of the period.

Composite Aggregate Rate of Return Report

Select Aggregate in the Composite Calculation Method frame to calculate the composite rate of return for a group of portfolios when using a "time-weighted" method by treating the group as a single composite portfolio.

To obtain a composite internal rate of return report, one or more of the selected portfolios must have a Balance value (greater than zero) on the Beginning date and also a Balance record for the Ending date.

The composite rate of return is calculated as if the selected group of portfolios were a single portfolio; the composite beginning and ending date balances are the sums of the individual portfolio balances and the individual portfolio deposit and withdrawal activity is treated as if it all applied to a single composite portfolio.

Since Easy ROR never assumes the value of a portfolio, a portfolio which does not have Balance values on either or both the Beginning and Ending dates will be included in the composite report only if its data records indicate it did not exist on either or both the Beginning or Ending dates but did exist during the report date span.

A portfolio which does not have a Balance value on the Beginning date may be included in the composite report if it has a Balance record for a date later than the Beginning date and has no earlier data records (other than a Deposit record having the same amount and date as the initial Balance record) thus indicating the portfolio was initiated during the report time span.

A portfolio which does not have a Balance value on the Ending date would not be included in the report unless it has a zero value Balance record whose date is prior to the Ending date indicating that the portfolio was either liquidated (as evidenced by a Withdrawal record having the same date as the zero Balance record) or became worthless during the report time span. The portfolio would not be included if it has other later transaction records.

All three composite methods are accepted by AIMR and GIPS as asset-weighted approaches. If when using a Time-weighted calculation method to calculate the composite performance of a group of portfolios and one or more of which came into being after the report beginning date and/or was liquidated prior to the report ending date, only the Aggregate selection will cause a composite performance to be calculated.

If the 'Include Dispersion Calculation' check box is checked, Dispersion values are displayed near the Composite return values. Dispersion values are calculated only if all portfolios in the composite group had non-zero balance values on both the report beginning and ending dates.

 

 


Rate of Return Report - Report Mode

Select Display to have the report displayed or select Print to have the report printed to file or to a printer without first being displayed. Displayed reports can be printed by clicking the Print command button on the display window.

The maximum length of a displayed 132-character report is 142 lines; the maximum length of a displayed 80-character report is 2000 lines. If the displayed report will exceed the length limitation, you are given the option of displaying the top portion up to the limit or canceling the report generation.

 

 


'with Portfolio ID' Vs. 'with Account Number'

When selecting the Performance functions 'Rate of Return', 'Volatility', 'Portfolio Gain/Loss', 'Graph>Balance-Deposits-Withdrawals' and 'Graph>Total Return' you must then select either 'with Portfolio ID' or 'with Account Number'.

Note:  You can change this setting under the Options menu->Portfolio Selection Method to always select by one or the other so you won't have to make this selection every time.

with Portfolio ID

Select 'with Portfolio ID' to have the graph or report entry screen list Portfolios available for the graph or report function.

Portfolios included in a Portfolio Selection list or drop-down list are those which have at least one Balance record whose Amount value can be used as a Beginning Date value plus at least one Balance record whose Amount value can be used as an Ending Date value. A Balance record with a zero amount cannot be used as a Beginning Date record. Dates appearing in the Beginning and Ending Date drop-down lists are the dates of the Balance records of the selected Portfolios.

with Account Number

Select 'with Account Number' to have the graph or report entry screen list Accounts available for the graph or report function.

For the purpose of populating the Account Selection lists or drop-down lists an Account can be a single Portfolio which has an Account Number entry and which is included in Portfolio Selection lists or drop-down lists when 'with Portfolio ID' is selected. An Account can also be a collection of Portfolios, each of which has been given the same Account Number entry and are included in Portfolio Selection lists or drop-down lists when 'with Portfolio ID' is selected. The value of an Account on any given day is the sum of the Amount values on the Balance records of the active Portfolios comprising the Account on that day. If all active Portfolios in the Account do not have Balance records for that day, that day cannot be used for calculation or graph plotting purposes. The earliest Account date is the date of the earliest non-zero Balance record of any Portfolio included in the Account. The latest Account date is the date of the latest Balance record of any Portfolio included in the Account. If all of the active Portfolios in an Account do not have Balance records for the latest date, that Account group cannot be included in the Account Selection list or drop-down list for calculation or graph plotting purposes. Dates appearing in the Beginning and Ending Date drop-down lists are the dates of the usable Balance records of the Portfolios comprising the selected Accounts.

The resulting graph or report for an Account is created using the data recorded for the Portfolios making up the Account as if it had been entered for a single portfolio. For the Rate of Return and Volatility reports, the resulting report is the same as is obtained when the with Portfolio ID selection is made, all Portfolios making up the Account are selected, a Composite Report check box is checked and the Aggregate Composite Calculation Method is made.

 

 


Active Portfolio

The program considers a Portfolio to have become active on the day of its earliest non-zero Balance record and to have ceased to be active on the date of a later zero Balance record. If a Portfolio is closed or liquidated, create a Withdrawal record in the amount of the Portfolio value on its closing date and also create a zero Balance record for that day. It the Portfolio became worthless, simply create a zero Balance record for that day. Transaction records should not be created for a Portfolio for dates prior to the date on which it became active nor for dates later than the date on which it became inactive.

 

 


Report Setup

If no Header Title is wanted on the printed report or report written to an ASCII file, enter 0 in the Report Title Lines Text Box in the Report Setup Dialog. If a Header Title is wanted, enter the number of header lines desired and make Report Title Placement and Report Title Pages selections. The Report Title Placement Drop-Down List selections provide for the Header Title to be centered (left-right) on the page or left-justified. The Report Title Pages Drop-Down List selections provide for the Header Title to be placed on only the first page of the report, on only the even-numbered pages, on only the odd-numbered pages or on all pages of the report.

Enter a Left Margin Adjustment value to increase the left margin. The top margin can be increased by increasing the Report Title Lines value if a number of blank lines has been saved at the top of the Report Title.

For 80-character, multi-portfolio, non-composite reports, check the "Page Break on Portfolio" Check Box to cause the report for each portfolio to begin on a new page.

The currently selected Printer Font Name, Italic/Oblique, Bold and Size selections are shown. Click the 'Change Font Setting' option button if you want to change the font setting before printing the report or click the 'Use Current Font Setting' button to retain the current settings. The Font Setting options do not apply if you select the 'Print to file' check box in the Print dialog box to print the report to a text file.

After the desired entries have been made, click the OK Button.

 

 


Create a Report Header Title

A report header title can be included at the top of reports sent to file or printed. A Header Title would likely be a name and address but could be only blank lines which could be used to create a top margin. To create a new header title or to edit an existing one, select Report Title from the Listings menu. After entering or editing a header title, click the OK command button to save the entries made in the Report Title text box. When you elect to print a report, you are given the opportunity to use from zero to all of the lines established for the Header Title. If seven lines of Header Title have been saved and you elect to use three lines as a Header Title, the top three lines are used.

After entering a Header line, press Enter to advance the insertion point to the next line.

 

 


Create a Transaction Listing

To create a transaction data listing, select the portfolio(s) whose transaction data is to be listed. The transactions included in the listing can be limited to those of a given Type by selecting that Type from the Type drop-down list box; select All to include all transaction types in the listing. The transaction date range is limited by the Beginning Date and Ending Date selections. Select a Report Mode of either Display or Print and then click the OK command button.

Total Fee, Tax, Deposit, Withdrawal and Net Deposit/Withdrawal values are shown for listed transactions for each Portfolio included in the listing. Grand total values are also shown for all listed portfolios. Balance record totals are also shown if multiple portfolios are selected to be included in the report and the Beginning and Ending Dates are the same.

 

 


Transaction Listing - Portfolio Selection

A Transaction Listing can be created for a single specified portfolio or for each of a group of specified portfolios. Select from the Portfolio Selection List Box the portfolio(s) you want included in the listing. Double-clicking any Portfolio ID causes all portfolios to be selected for inclusion in the listing. Multiple portfolios can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Portfolio Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio Group selection may be used to select portfolios by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

To print the displayed listing or to write it to an ASCII file, click the Print Button to display the Windows Print Dialog. To write the listing to an ASCII file, select the Print to File Check Box and then enter or select a file name and path in the Windows Save As Dialog Box.

 

 


Transaction Listing - Report Mode

Select Display to have the listing displayed or select Print to have the listing printed to file or to a printer without first being displayed. Displayed listings can be printed by clicking the Print command button on the display window.

The maximum length of the listing is 2000 lines. If the displayed listing will exceed the length limitation, you are given the option of displaying the top portion up to the limit or canceling the listing generation.

 

 


Delete a Portfolio

To delete a portfolio, select the Change/Delete Portfolio function from the Portfolio menu. Either enter in the Portfolio ID text box the portfolio ID of the portfolio to be deleted or select the portfolio by selecting it from the drop-down list box. The portfolio data for the selected portfolio is displayed in the Change/Delete Portfolio ID window. To delete the portfolio and all transactions for the portfolio, click on the Delete command button.

 

 


Delete Transaction Data

To delete transaction data, select the Transactions>Single Portfolio>Add/Change/Delete function from the Transactions menu or press Ctrl+T. Select from the drop-down list box the portfolio ID of the portfolio for which a transaction is to be deleted. Click on any cell (clicking on the Type cell of a Deposit or Withdrawal transaction causes a 'Type-change' option to appear) of the transaction which is to be deleted and then click the Delete command button. The record is then highlighted and you are asked in a dialog box to confirm that you wish to delete the highlighted record. Click the Yes command button in the dialog box to cause the record to be deleted.

To delete a block of records, highlight the block by clicking on a cell in one record and then shift-click a cell in another record. Click the Delete button to cause the highlighted block of records to be deleted.

 

 


Duplicate a Portfolio

To duplicate a portfolio, select the Duplicate Portfolio function from the Portfolio menu. Enter the portfolio ID of the portfolio (source) to be duplicated in the Portfolio ID text box and the portfolio ID of the target portfolio in the Target Portfolio ID text box. The Portfolio ID/Name drop-down list can also be used to select the source portfolio. Click the OK command button to cause the transactions of the source portfolio to be duplicated in the target portfolio.

 

 


Edit Portfolio ID Data

To edit portfolio ID data, select the Change/Delete Portfolio function from the Portfolio menu. Enter in the Portfolio ID text box the Portfolio ID of the desired portfolio and press Enter, or enter in the Account Number text box the Account Number of the desired portfolio and press Enter or select the portfolio by selecting it from the drop- down list box. After making the desired changes to the portfolio data, click on the OK command button.

The Change/Delete Portfolio ID Record window also provides the means to delete a portfolio and all of its transactions.

 

 


Edit Transaction Data

To edit transaction data, select the Single Portfolio>Add/Change/Delete function from the Transactions menu or press Ctrl+T. Select from the drop-down list box the portfolio ID of the portfolio for which transaction data is to be edited. Click on the cell containing the data which is to be edited and enter the desired change(s). Press the Enter key on the keyboard to record the change on the grid. Click on the Save command button to save the edited record. Each row of the transaction data grid represents a record.

The transaction Type field cannot be edited except that Deposit records can be changed to Withdrawal records and vice versa. Otherwise, if the Type field on a record is incorrect, delete the record and re-enter it with the correct Type.

 

 


Export Portfolio Data

Portfolio Record data may be exported to an 'Easy ROR Format' file which can by used in the Easy ROR File>Import>Easy ROR for Windows function or to a 'User Defined' format file.

Easy ROR Format

To export portfolio data, select Export from the File menu and then select Portfolio Data>Easy ROR Format. The Export Data function is used to create an ASCII file containing Easy ROR portfolio data; the resulting file is capable of being imported by popular spreadsheet programs. Each line in the export file contains all of the data in the portfolio file for the selected portfolio(s). Two formats are available for the exported file: comma delimited and text. An export file created using the comma delimited format may be used in the Easy ROR File>Import>Easy ROR for Windows function.

If the comma delimited format is chosen, data fields are separated by commas.

If the text format is chosen, alphabetic data is placed within double quotation marks.

Select the portfolio(s) whose portfolio data is to be exported. After making the desired selections, click on the OK command button and then enter or select a file name and path in the Windows Save As Dialog for the export data file.

User Defined Format

To export portfolio data, select Export from the File menu and then select Portfolio Data User Defined. The Export Data function is used to create a comma delimited ASCII file containing the portfolio data for which Position values are entered. The resulting file is capable of being imported by popular spreadsheet programs. Each line in the export file will contain the portfolio file data for which Position values for the selected portfolio(s).

 

 


Export Portfolio Data - Portfolio Selection

Portfolio data for a single specified portfolio or for each of a group of specified portfolios can be exported. Select from the Portfolio Selection List Box the portfolio(s) whose data you want to export. Double-clicking any Portfolio ID causes all portfolios to be selected. Multiple portfolios can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Portfolio Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio Group selection may be used to select portfolios by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Export Transaction Data

Transaction data may be exported to an 'Easy ROR Format' file which can by used in the Easy ROR File>Import>Easy ROR for Windows function or to a 'User Defined' format file.

Easy ROR Format

To export transaction data, select Export from the File menu and then select Transaction Data>Easy ROR Format. The Export Data function is used to create an ASCII file containing Easy ROR transaction data; the resulting file is capable of being imported by popular spreadsheet programs. Two formats are available for the exported file: comma delimited and text. Transaction data exported using the comma delimited format may be imported into an Easy ROR database.

If the comma delimited format is chosen, data fields are separated by commas. Dates are formatted as mm/dd/yyyy.

If the text format is chosen, alphabetic data is placed within double quotation marks and numeric data is separated by spaces. Dates are written as a number equal to the number of days since December 31, 1899. Each line in the export file contains up to 73 characters of data for each Transaction data record.

To export transaction data, select Export from the File menu and then select Transaction Data. Select the portfolio(s) whose transaction data is to be exported. The transactions to be exported can be limited to those of a given Type by selecting that Type from the Type drop-down list box; select All to include all transaction types. The transaction date range is limited by the Beginning Date and Ending Date selections. After making the desired selections, click on the OK command button and then enter or select a file name and path in the Windows Save As Dialog Box for the export data file.

User Defined Format

To export transaction data, select Export from the File menu and then select Transaction Data>User Defined. The Export Data function is used to create a comma delimited ASCII file containing the transaction data for which Position values are entered. The resulting file is capable of being imported by popular spreadsheet programs. Each line in the export file will contain the transaction data for which Position values for the selected portfolio(s).

 

 


Export Transaction Data - Portfolio Selection

Transaction data for a single specified portfolio or for each of a group of specified portfolios can be exported. Select from the Portfolio Selection List Box the portfolio(s) whose data you want to export. Double-clicking any Portfolio ID causes all portfolios to be selected. Multiple portfolios can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Portfolio Selection List Box.

The Portfolio ID Wild Card Entry Text Box may be used to cause all portfolios whose ID's match the wild card entry to be selected. The Portfolio Type Selection List may be used to cause all portfolios having the selected Portfolio Type to be selected. Select the Type option to toggle the Portfolio ID Wild Card Entry frame to Portfolio Type Selection or Select the Wild option to toggle the Portfolio Type Selection to Portfolio ID Wild Card Entry frame.

A previously saved Portfolio Group selection may be used to select portfolios by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

 

 


Export Benchmark Values

The Export Benchmark Values function is used to create ASCII files containing Benchmark values; the resulting file is capable of being imported by popular spreadsheet programs. Two formats are available for the exported file: comma delimited and text.

If the comma delimited format is chosen, data fields are separated by a comma. If the text format is chosen, data fields are separated by a space. Dates are formatted as mm/dd/yyyy.

Each line in the export file contains a date value and the Benchmark value on that date.

To export Benchmark values, select Export from the File menu and then select Benchmark Values. Select the Benchmarks whose Benchmark values are to be exported. The Benchmark values to be exported can be limited to those of a given Benchmark Type by selecting that Type from the Benchmark Type drop-down list box. The Benchmark values range is limited by the Beginning Date and Ending Date selections. After making the desired selections, click on the OK command button and then enter or select a file name and path in the Windows Save As Dialog for the export data file.

 

 


Export Benchmark Values - Benchmark Selection

Benchmark Values for a single specified Benchmark or for each of a group of specified Benchmarks can be exported. Select from the Benchmark Selection List Box the Benchmark(s) whose data you want to export. Double-clicking any Benchmark causes all Benchmarks to be selected. Multiple Benchmarks can be selected by depressing the Ctrl key while clicking on a portfolio entry in the Benchmark Selection List Box.

The Benchmark Type list may be used to cause all Benchmarks to which the selected Type has been assigned to be selected.

A previously saved Benchmark Group selection may be used to select Benchmarks by clicking on the Drop-Down Text Box control button and then clicking on the desired Group Name.

Benchmarks included in the Benchmark Selection list are only those Benchmarks for which values have been either downloaded or entered manually.

 

 


Import Data

Data may be imported from comma delimited files (*.csv) created using the Easy ROR Export (in Easy ROR format) function and from Portfolio Analyzer and The Investor's Accountant database files. Data may also be imported from user defined ASCII data files. To import data, select Import from the File menu and then either select the program from which data is to be imported or select "User Defined". If either Easy ROR, Portfolio Analyzer or The Investor's Accountant is selected, an Import File Dialog appears; identify the path and directory in which the database files to be imported are located.

The File>Import>User Defined selection is used to import data from text files to create Portfolio ID records and Transaction records. For both processes you create an Import Description which describes where the necessary data is located on the import file. The Import Description screen provides the ability to test the accuracy of the description and also to use the description to import data from the text file.

The Undo Transaction Data Import function may be used to delete transaction records (other than Balance records) imported from an import file.

Use the Benchmark>Import Benchmark Values function to import price data for individual Benchmarks.

 

 


Import Data-User Defined-Portfolio Data

Data may be imported from a comma delimited (.csv) text file to create Portfolio ID records. The import file must contain either a Portfolio ID value or an Account Number to identify the portfolio. The Portfolio ID is a unique 1-, 2- or 3-character alpha-numeric value. The portfolio may alternatively be identified by an Account Number (up to 15 alpha-numeric characters) and Portfolio Type.

If a Portfolio Name is not imported, the Account Number (if it is being imported) will be assigned as the Portfolio Name; if a Portfolio ID is being imported it will be assigned as the Portfolio Name.

Since the Easy ROR transaction database uses the 3-character Portfolio ID to identify the Portfolio to which transaction records belong, each Portfolio must have a Portfolio ID. If an Account Number rather than a Portfolio ID is being imported, a Portfolio ID will be generated and assigned to the Portfolio.

Before importing Portfolio ID data an Import Description must be created and saved. The description identifies the position in which the data to be imported is located on the import file records.

Each record in the import data file must have either the Portfolio ID or Account Number. If an Account Number applies to multiple sub-accounts (Portfolio Types), the Type Code position must be identified. If import record includes a Type Code which is not currently in the Portfolio Type table, it will be added when that data is imported. If import record also includes a Type Description and the Type Description position on the record is identified, the Type Description will also be placed in the Portfolio Type table.

The 'Number of Fields' value must be entered. This value is the number of data fields on each import file record. If the first record on the import file is a header record which contains column headings identifying the data in the file columns, the number of 'column headings' is the value to be entered. If the right-most column heading is followed by a comma, the 'Number of Fields' value is the number of 'column headings' plus one. If a header record is present the 'Header Record Present' check box should be checked; this prevents the program from attempting to import these entries as data.

After entering the Import Description data and clicking Save to save it, you should test the accuracy of the description. After clicking Test you will select the data file to be tested. The Test routine displays the content of the first record at the bottom of the screen and displays the values of the fields for which Position values have been entered. Clicking the Next button displays and interprets the next record. If the displayed Field Values are correct it is safe to click the Import button to import the data. The imported data will be placed in the current Transaction Database.

Saved Import Description values are stored in a table residing in the Benchmark.mdb file.

 

 


Import Data-User Defined-Transaction Data

Two routines are available for importing User Defined Transaction Data.

The Transaction Data Import-User Defined, with Portfolio ID function is used for importing data from an import file in which each record contains the 3-character Portfolio ID, a field containing a 'B', 'D', 'W', 'F' or 'T' to identify the type of Amount value on the record as a Balance, Deposit, Withdrawal, Fee or Tax value, and a Transaction Date value. If the Portfolio ID on a record is not included in the current Transaction Database it will be added.

The Transaction Data Import-User Defined, with Account Number function is used for importing data from a comma delimited import file in which the record ID is either the 3- character Portfolio ID or an Account Number. If Portfolio Type values are being used to identify multiple sub-accounts using the same Account Number each record must contain both an Account Number field and a Portfolio Type field. When using this function the 'portfolios' represented on the import file must be included in the current Transaction Database. If some or all of the 'portfolios' are not in the current Transaction Database, use the File>Import>User Defined>Portfolio Data function to create them.

Saved Import Description values are stored in a table residing in the Benchmark.mdb file.

 

 


Transaction Data Import-User Defined, with Portfolio ID

If "Transaction Data Import-User Defined, with Portfolio ID" is selected, each record in the import data file must have at least three data fields: data type, date and amount. A Balance record may also include a Tax Amount field. All type records may include a Memo field. If the data file contains records for multiple portfolios, each record must also include a portfolio ID field.

Selecting "Transaction Data Import-User Defined, with Portfolio ID" causes an Import file description window to appear. From this window either select a previously saved file description from the Import Descriptions drop-down text box or define the import file by making entries in the file description fields. To be able to define the import file layout, you must first determine how data in the file is arranged by printing the data file or by observing the file in a text editor such as Windows Notepad.

The " Data Import-User Defined, with Portfolio ID " Import file description window contains the following selections:

Import Descriptions
Portfolio(s)
Datafile Name
Datafile Path
Comment
Fields separated by
One Record/Line
Record Length/Number of Fields
Position or Location & Length

To test the accuracy of your file description, Click the Test command button and then enter or otherwise select the name of the import data file in the "Select Import File" Directory List Box. The first record on the import data file is displayed above a scale at the bottom of the Import Data window and the values of the various fields, as determined by the file description, are displayed to the right of the field description values. The Record Length or Number of Fields entry determines the length of the record displayed above the scale; if the Record Length field is set to a blank or zero, a record length of 255 is used, otherwise the actual entry is used. Click the Next command button to read the values on the next record; if the file Description is correct, the values for each field on every record will be correctly displayed to the right of the field description values. When you are satisfied that the file Description is correct, click the Import command button to cause the data from your import file to be read into the Easy ROR database. If the data pertains to a single portfolio, you are prompted to select that portfolio from the Portfolio ID selection list.

 

 


Transaction Data Import - User Defined, with Account Number

The "Transaction Data Import-User Defined, with Account Number" import function applies to only comma delimited text files. When using this function Portfolio records must already exist for the portfolios to which the import data applies. Each record must contain a date field.

If the data included in the file applies to multiple portfolios each record on the import file must contain either a Portfolio ID value or an Account Number to identify the portfolio. If the Account Number is used for portfolio identification on the import file and multiple portfolios use the same Account Number but are differentiated by the Portfolio Type then each record on the import file must also contain the Portfolio Type.

Each record must include either a Transaction Type code which identifies the type of value on that record or the type of value on the record is determined by the position on the record of that value. The Transaction Type code set used by the import file may be the Easy ROR set (B, D, W, D and F) or may be one for which a Type Correlation has been created.

All type records may include a Memo field.

Selecting "Transaction Data Import-User Defined, with Account Number" causes an Import file description window to appear. From this window either select a previously saved file description from the Import Descriptions drop-down text box or define the import file by making entries in the file description fields. To be able to define the import file layout, you must first determine how data in the file is arranged by printing the data file or by observing the file in a text editor such as Windows Notepad.

The " Transaction Data Import-User Defined, with Account Number " Import file description window contains the following selections:

Import Descriptions
Portfolio(s)
Datafile Name
Datafile Path
Comment
Header Record Present
Transaction Type Code in Record
Number of Fields
Position

To test the accuracy of your file description, Click the Test command button and then enter or otherwise select the name of the import data file in the "Select Import File" Directory List Box. The first record on the import data file is displayed above a scale at the bottom of the Import Data window and the values of the various fields, as determined by the file description, are displayed to the right of the field description values. Click the Next command button to read the values on the next record; if the file Description is correct, the values for each field on every record will be correctly displayed to the right of the field description values. When you are satisfied that the file Description is correct, click the Import command button to cause the data from your import file to be read into the Easy ROR database. If the data pertains to a single portfolio, you are prompted to select that portfolio from the Portfolio ID selection list.

 

 


Import User-Defined Data, Portfolio(s)

Choose the "Multiple" option if the data file includes data for more than one portfolio; each record in such a file must contain a portfolio ID. Choose the "Single" option if all of the data in the file pertains to a single portfolio; when you click the "Import" command button, you will be prompted to indicate the portfolio ID.

 

 


Import File - Datafile Name

Entry of a 'Datafile Name' is optional. If a 'Datafile Name' is saved as a part of the Description, that name is the default File Name when the Select Import File window is opened by clicking either Test or Import.

 

 


Import File - Datafile Path

Entry of a 'Datafile Path' is optional. If a 'Datafile Path' is saved as a part of the Description, that path is the default 'Look in:' path when the 'Select Import File' window is opened by clicking either Test or Import. If no Datafile Path' is a part of the Description, the default 'Look in:' path when the 'Select Import File' window is opened is the path to the folder in which Easy ROR is installed.

 

 


Import User-Defined Data, Comment

A comment related to the Import File Description may be entered; an entry is not required. This comment field is provided for your use to enter text or numbers which you might find useful regarding the file description; the field is not used by the Import function.

 

 


Import User-Defined Data, Fields separated by

Indicate whether the data fields on the Import File are separated by Commas or Tabs or are Not Separated. When the import file is displayed or printed, tab characters (ASCII value of 9) may appear as an open circle ( ).

The location of comma or tab delimited data fields is described by identifying the position sequence of each data field in the data record. For example, if the record date appears in the third field on each record, enter a "3" in the Position field for "Date".

If the data fields are not separated by commas or tabs then the location of data fields is described by identifying the length of each data record and identifying the location of the left-most character of each data field and the length of each data field. For example, if the first character in the field containing the Portfolio ID in each record is located above 42 on the scale and the last character in the field is located above the 52 on the scale, enter "42" in the Location field for "Portfolio" and enter "11" in the Length field. If each record does not begin on a separate line when the Import file is printed or displayed in an Editor program such as Windows Notepad, you must cause the "One Record/Line" check box to be blank and you must enter the total number of characters in an individual record in the "Record Length" field.

 

 


Import User-Defined Data, Header Record Present

Check to indicate the top record in the import file consists of column headings. If checked, the import routine will not attempt to import values on that record as transaction data.

 

 


Import User-Defined Data, Transaction Type Code in Record

Do not check this option if the type of value is determined by the position of the value on the record. Check to indicate that a Transaction Type code is included on each record which identifies the type of value on the record. If the Transaction Type code on the record must be converted to the Easy ROR Type code, select the Type Correlation to be used from the Type Correlation list.

If checked the field values relevant to the import routine are Date, Type, Amount and Memo. If the Portfolio(s) 'Multiple' option is selected, Portfolio ID, Account Number and Portfolio Type are also included.

If not checked enter the position on the record of the type(s) of value(s) to be imported.

 

 


Import User-Defined Data, One Record/Line

A group of data fields (Portfolio ID, Data Type, Date, etc.) which contain data for a single day is a data record. Indicate if each record in the file begins on a new line, ie. one record per line. Whether or not each record begins on a new line can be determined by printing the Import file or by displaying it in an Editor program such as Windows Notepad.

 

 


Import User-Defined, Record Length/Number of Fields

If the "Fields separated by" choice is "Not Separated" and the records in the data file are not "One Record/Line", but instead, one record follows another on the same line, you must enter a value for Record Length. The Record Length is the number of characters and spaces in a single record. If the "Fields separated by" choice is commas or tabs then a value must be entered for the Number of Fields. The Number of Fields is the number of possible data fields in each record; the correct value is usually one more than the number of commas (or tabs) in the record.

 

 


Import User-Defined Data, Position or Location & Length

If the data fields are separated by commas or tabs you are required to indicate the Position (or sequence) of the various data fields in the data record. If the data fields are not separated by commas or tabs you are required to indicate the starting location and length of the various data fields in the data record.

Portfolio - If the data being imported pertains to Multiple portfolios, rather than to a single portfolio, each data record must include an alpha-numeric field containing the portfolio ID. The Import function reads the first three characters in the Portfolio ID field.

Type - Each import data record must include an alphabetic field which identifies the record Type as either Balance, Deposit, Withdrawal, Fee or Tax. Since the Import function reads only the first character of the Type entry, a single-character entry (B, D, W, F or T) is sufficient.

Date & Format - Each import data record must include a numeric field containing the record date. The date format may be either mmddyy, mmddyyyy, mm/dd/yy, mm/dd/yyyy or serial; specify the "Serial" notation when the date is represented by the number of days occurring between December 30, 1899 and the record date, eg. January 1, 1900 is day 2.

Amount - An import data record must include a numeric field containing the record Amount value, eg. the portfolio value on a Type B record, the deposit amount on a Type D record, etc.

Tax Amount - An import Balance Type data record may include a numeric field containing a Tax Amount. The tax value is the approximate tax liability (not actual payment) on accrued interest and unrealized capital gains included in the Balance value; these tax values are needed only if you want Easy ROR to calculate after-tax performance. Use record Type T to record actual tax payment amounts.

Memo - An import data record may include an alpha-numeric field containing a comment or memo.

 

 


Import User-Defined Data, Import Descriptions

To save the data entries and selections on the User-Defined Import window as an "Import Description", enter a name (up to 9 alpha-numeric characters) in the "Import Description" list box and click the Save command button. To select a previously saved Description, click on the list box control button and then click on the Description name. A displayed Description may be deleted by clicking the Delete Command button.

The Import Descriptions may be exported to enable importing them into a different database. To export the Import Descriptions select the File>Export>User Defined Export/Import Descriptions function. To import this data into a different database which does not include some or all of the Import Descriptions which have previously been exported select the File>Import>User Defined Export/Import Descriptions function.

 

 


Import User-Defined Data-Transaction Data-Record Type Correlation

Easy ROR transaction record types are B, D, W, T and F which identify Balance, Deposit, Withdrawal, Tax and Fee records. If records on a transaction import file include a field in which a record type code or text description which identifies the type of value on that record and the code is not the Easy ROR set, you may create a Type Correlation table which matches the Import File Record Type Entry with the appropriate Easy ROR Record Type. If an Import File Record Type identifies a 'fee' amount and the fee amount is withdrawn from the portfolio, you may enter a 'FW' or 'WF' as the Easy ROR Record Type to cause the Import routine to create both a Fee record and a Withdrawal record. Enter a Type Correlation Name for the correlation table. Click Save to save the entered data to be saved.

The Type Correlation Name is included for use in the Type Correlation list on the Transaction Data Import-User Defined, with Account Number Import screen when the Transaction Type Code in Record check box is checked.

As many as 60 Record Type Correlations may be entered for a 'Type Correlation Name'.

 

 


Undo Transaction Data Import

The Undo Transaction Data Import function is used to delete non-Balance records from the current transaction database which had previously been imported from an import file.

Easy ROR Format

Select the desired import file from the 'Select Import File' window and click 'Open' to initiate the Undo operation.

User Defined

Select from the drop-down list the Import Description which describes the import file. Click the Undo button to open the 'Select Import File' window, select the desired import file, and click 'Open' to initiate the Undo operation.

The main use of this function is to delete duplicate records which were mistakenly added to the database by importing data from a file from which data had already been imported. Since the database does not allow a Portfolio to have more than one Balance record for a given day, importing data from a file from which data had previously been imported results in duplicate records of all types except Balance records. Since duplicate Balance records are not created, the Undo function does not delete Balance records.

 

 


Import Benchmark Data

A Benchmark data import file must have two data fields: date and amount.

Selecting "Benchmark>Import Benchmark Values" causes an Import file description window to appear. From this window either select a previously saved file description from the Import Descriptions drop-down text box or define the import file by making entries in the file description fields. To be able to define the import file layout, you must first determine how data in the file is arranged by printing the data file or by observing the file in a text editor such as Windows Notepad.

The "Benchmark>Import Benchmark Values" Import file description window contains the following selections:

Import Descriptions
Datafile Name
Datafile Path
Comment
Fields separated by
One Record/Line
Record Length/Number of Fields
Position or Location & Length

To test the accuracy of your file description, Click the Test command button and then enter or otherwise select the name of the import data file in the "Select Import File" Directory List Box. The first record on the import data file is displayed above a scale at the bottom of the Import Data window and the values of the various fields, as determined by the file description, are displayed to the right of the field description values. The Record Length or Number of Fields entry determines the length of the record displayed above the scale; if the Record Length field is set to a blank or zero, a record length of 255 is used, otherwise the actual entry is used. Click the Next command button to read the values on the next record; if the file Description is correct, the values for each field on every record will be correctly displayed to the right of the field description values. When you are satisfied that the file Description is correct, click the Import command button to cause the data from your import file to be read into the benchmark database.

 

 


Import User-Defined Data, Position or Location & Length

If the data fields are separated by commas or tabs you are required to indicate the Position (or sequence) of the various data fields in the data record. If the data fields are not separated by commas or tabs you are required to indicate the starting location and length of the various data fields in the data record.

Date & Format - Each import data record must include a numeric field containing the record date. The date format may be either mmddyy, mmddyyyy, mm/dd/yy, mm/dd/yyyy or serial; specify the "Serial" notation when the date is represented by the number of days occurring between December 30, 1899 and the record date, eg. January 1, 1900 is day 2.

Amount - An import data record must include a numeric field containing the Benchmark value on the record Date.

 

 


Export/Import User Defined Export/Import Descriptions

Portfolio, Transaction and Benchmark data may be imported from text files if the layout of those files has been described and saved as a ‘User Defined Import Description’.  The ‘user defined’ descriptions pertaining to importing of benchmark data and transaction data which is identified by ‘Portfolio ID’ rather than by ‘Account Number’ is stored in the Current Transaction database.  The other descriptions are stored in the Benchmark.mdb database file which resides in the same folder in which the Easy ROR Pro application file is located.  The Benchmark.mdb file also contains the Portfolio Type data and Import>User Defined>Transaction Data>Record Type Correlation data, if any.

Use the File>Export>User Defined Export/Import Descriptions to read and write this data to a group of text files.  The ‘user defined’ data stored in the Current Transaction database is written to the {user}.csv file and the data stored in the Benchmark.mdb file is written to the {userTran}. csv, {userPf}. csv, {PfType}. csv, and {TypCorrel}. Csv files.

After a new transaction database is created you may use the File>Import>User Defined Export/Import Descriptions function to add the data from the {user}. Csv file to that database.  If the Benchmark.mdb database file is not present (it was deleted, renamed, etc.) in the folder in which the Easy ROR Pro application file is located when Easy ROR Pro is launched a new empty Benchmark.mdb database file is created.  Use the File>Import>User Defined Export/Import Descriptions function to add the data from the {userTran}. csv, {userPf}. csv, {PfType}. csv, and {TypCorrel}. csv files to the new empty Benchmark.mdb database file.

 

 


Restore Backup Database

To copy data files from the Backup drive/directory to the directory (folder) in which you keep your databases, select the Restore database command from the File menu.

Select the drive on which the Backup files are located from the Backup Drive drop-down list. Select the directory in which the Backup files are located from the from the Backup Directory list. Select the names of the files to be restored from the Database list. Hold down the Shift or Ctrl key while selecting files to select multiple files. Similarly select the drive and directory to which the backed-up files are to be copied. Click OK to cause the selected files to be copied to the selected directory.

 

 


Set/Remove Password Protection

Select File->Password-Protect Database to set a password for the currently loaded database. Once the password is set, it will be required to open the database in future sessions. The password can be changed at any time the database is currently loaded via the same menu selection. To remove the password from a password-protected database, change its password to blank (no characters). Password protection is copied when a backup database is created.

 

 


Make Anonymous Database

Use File->Make Anonymous Database to make a duplicate copy of a selected Transaction database file which is identical to the original, except that the Account Number, Address, Phone Number Taxpayer ID and Memo fields on the Portfolio records are blanked and the Portfolio ID is assigned as the Portfolio Name.

 

 


Merge Portfolios

To copy the combined transaction data of two portfolios to an empty portfolio, select the Merge Portfolio function from the Portfolio menu. Identify the portfolios to be merged and enter the portfolio ID of the target portfolio in the New Portfolio ID text box. Click the OK command button to cause the portfolios to be merged.

Note that the Amount and Tax values on Balance records placed in the "merged portfolio" are the sum of the Amount and Tax values on Balance records of the individual portfolios. If only one of the portfolios being merged has a Balance record on a given day and both portfolios existed on that day, that record is ignored since its Amount and Tax values do not represent the values of the combined portfolio.

 

 


Change a Portfolio ID

To change the ID of a portfolio, select the Change Portfolio ID function from the Portfolio menu. Select the portfolio to be renamed from the Portfolio ID/Name drop- down list or enter its ID or Account No. in the Portfolio ID or Account No. text box and enter the new portfolio ID in the New Portfolio ID text box. Click the OK command button to cause the portfolio ID to be replaced on the Portfolio record and on all Transaction records.

The New Portfolio ID must indicate a portfolio which does not already exist.

 

 


Use Sample Data

To load the Sample data, select Load Sample Data from the File menu. This causes the sample.mdb file to be the active datafile.

 

 


Site Map

The Site Map is a complete outline of all Easy ROR menu functions. Clicking on a function name will cause the Site Map to close and the function to activate.

The Site Map is obtained by clicking 'Help' on the Main Menu and then clicking 'Site Map'.

 

 


Calendar Periods

The Calendar Periods check box is included in the Period Returns frame and is enabled when a Period Return other than Single is selected. Select either the Monthly, Quarterly or Yearly Option Button to obtain "period" results. If the Calendar Periods check box is checked, a Monthly period is the interval from the last day of one month through the last day of the succeeding month, a Quarterly period is the 3-month interval following December 31, March 31, June 30 and September 30 and a Yearly period is the interval from December 31 of one year through December 31 of the succeeding year; if the Beginning Date is not the end of a calendar period, the first period extends from the Beginning Date through the normal period end date. The last 'period' on the report is the period from the end of the last 'calendar period' date through Ending Date.

If the Calendar Periods check box is not checked, the period begin and end dates are determined by the selected Beginning Date; a Monthly, Quarterly or Yearly period is the interval from the beginning day of a period through that day one month, three months or twelve months later. The last 'period' on the report is the period from the end of the last 'period' date through Ending Date.

 

 


Initial Screen

Click 'Initial Screen' from the Main Menu 'Help' list to display a group of program functions. Make a selection to cause that function to be automatically opened when the program is launched. The selection may be changed or deleted.

 

 


Set Data Path

Click 'Set Data Path' from the Main Menu 'File' list to describe the path to the folder/directory in which the default Transaction Database file ez.mdb and Permanent Benchmark Database file benchmark.mdb reside. After clicking 'Save' you will be advised that the 'Data Path' will be saved and the program will close. When the program is next opened, the new data path will be in effect. If the Data Path entry is left blank, the Data Path is assumed to be the folder in which Easy ROR Pro is installed.