New Investments and the Symbol List

[paulk]

Hey Mark

I wonder if I am missing something here. I edit my investment properties (ie asset class mix) by ticker though the function in the symbol list. When I subsequently add a new investment to a client portfolio using the drop down symbol field in the add new investment function certain items with regards to that investment get filled in automatically which is fine. However, upon examination of the symbol list again I find that the asset class information "differs among investments". This becomes frustrating since many of the funds I use are owned in many subportfolios. Is there any way to have FM just use the default asset breakdown from the symbol list when a new investment is added?

[Mark]

Hi paulk,

This sounds like you don't have version 11.2 installed. This was a bug fixed in 11.2. Please download 11.2, and let me know if you still see this problem. For a description of the bug, see the revision history for version 11.2 here:

http://www.fundmanagersoftware.com/modlist.html

[paulk]

I have been running 11.2 since it was released in May. I don't think that's the problem.

[Mark]

Hi paulk,

Are you assigning the symbol to 100% of one asset type, or are you dividing it up? Maybe you are dividing it up, but the "New Investment" dialog only initializes the asset type to the one with the largest percentage, and thus you get it assigned as 100% when you don't want it that way? Is this the problem?

[paulk]

Yes Mark. That is exactly what is happening. Most of the investements have multiple asset classes since they are mutual funds. Any way around this other than having to either change the investment properties of each added investment manually or changing it in the symbol list once the new investments are added? If this is not currently possible it would be a great future improvement if it is feasible.

Thanks

[Mark]

Hi paulk,

That makes sense. The "New Investment" dialog really only lets you assign a single asset type or investment goal. I'm thinking what we could do is if you select the symbol in that drop-down, and then don't make any changes, we could assign it the same as that symbol, and not just the 100% to whatever is selected in that dialog box. Or, maybe we could add a new choice to those drop-downs that say something like <existing symbol properties> or something like that. We'll try to get this into a future update.

[paulk]

Thanks Mark

The <existing symbol properties> enhancement would be one I (and I'm sure others) would find very helpful.

[paulk]

Hey Mark

I just ran into this issue again today (and several times since I last posted about it) when setting up new investments in a client portfolio. Is an enhanced "add new investment" dialogue in plans for a future release? Just curious.

Thanks
Paul

[Mark]

Hi Paul,

Yes, it is on the to-do list. Hopefully we can get this into the next major update. I agree it is a good improvement.

[paulk]

Thanks Mark! I wish my other software suppliers were this good!

[StarBright2011]

paulk

Let me share something I do that works well for me.

I have a separate "Shell" portfolio that contains default settings for investments (asset type, investment goals, etc). None of the investments contain orders, distributions, etc. The one thing I allow is to retrieve prices for these investments.

Now, when I want to add one of these investments to a "Real" portfolio:
1. I right-click on the investment in the "Shell" portfolio and select properties.
2. Click the Statistics tab and identify the Filename near the end of the list of items.
3. Open the "Real" portfolio that I wish to add this security.
4. Now, I click File-->Open Investment and from the list of investments, choose the one identified from step #2 above.
5. With that investment selected in Portfolio Editor, I click File--> Save Investment As and assign it a unique name (ex. if I already have IBM1.dat, IBM2.dat, and IBM3.dat, I give it a name of IBM4.dat).
6. To be safe, I then click File-->Save all Investments.
7. Click File-->Save Portfolio.

Now, that investment in the "Real" portfolio has all the characteristics as the original from the "Shell" portfolio with no orders, distributions, etc.

This works very well for me.

[paulk]

Ernest,

Thanks so much! I'm going to give it a try. If I manage to get the hang of it I will save tons of time since all the investments I use in client portfolios are open end funds and etfs, many of which have more than one asset class.

Thanks again.
Paul

[klvassalotti]

I've been having this challenge also. I look forward to the upcoming changes. However, I would like to request that FM consider moving to a common security list - at least for the professional and higher versions. I believe that would solve the problem of inconsistency between the same holdings in different portfolios and allow reporting by investment where the investment names don't have to be included multiple times because they are in multiple portfolios. I've tried several portfolio management programs and this is the only one I've seen that doesn't employ a common security list. I think FM is a great program, but I see this as a major weakness.

Keith

[Mark]

Hi Keith,

Thanks for the feedback. I agree this would be a good improvement area. We are starting to move more in this direction, but still have a ways to go. For example, in the Advisor version you can edit properties by symbol under "Edit / Symbol List...".

[michael]

Thanks Mark

The <existing symbol properties> enhancement would be one I (and I'm sure others) would find very helpful.

Mark,

In the mean time, is there a way to generate a report that details the "symbol properties" for each symbol. (the information that appears when selecting edit>symbol list)

Thanks,
Michael