Navigating XPLAN (Refresher)

XPLAN Overview

XPLAN is a web based financial planning software package that brings together the different stages in the advice process through the use of a number of modules and tools.

XPLAN enables delivery of advice to clients through integrated client management, modelling and portfolio management tools and applications.

The facilitator will demonstrate and take you through each of the modules and tools, and explain their function to you.

XPLAN Components

Client Focus

A comprehensive Fact Find and Client Relationship Module. This is where client data is entered.

Underlying these functions is the task management capability, which is designed to support the workflow process within a business.

XPLAN CRM Office Features

A suite of tools which not only provides users with standard document templates but also the functionality to build customised templates.

These tools provide the ability to manage the templates as well as to merge data from the system into the templates.

XTools

A suite of tools which can be used for projection and analysis. Some of the calculators can be used in a client facing situation.

XTools+

XTools+ is a powerful modelling tool that can be used to model and compare cashflows and projections.

IRESS Portfolio System (IPS)

IPS is used to manage and provide reporting on client portfolios.

Risk Researcher

A fully interactive risk research tool that provides both qualitative and quantitative analysis for personal risk insurance products.

SuperSolver

A superannuation comparison tool that provides product specific comparisons of costs and intangible plan features. It provides data on hundreds of retail, industry, government and corporate superannuation funds, and allows for the creation of new plans or deriving new plans from existing plans.

Debt Qualifier

It is a mortgage-qualification and analytics system. It provides a single point solution for Debt and Risk Management for existing and new clients.

Logging into XPLAN 

1. To login, access your designated website by typing in your website address

2. The login page for your website is displayed

3. Enter your User ID and Password and click 
   
   

Navigating the XPLAN Interface

The XPLAN interface is composed of three areas, the Title bar, the Navigation menu, and the current Page.

Title Bar

• Available in all areas of XPLAN

• Quick links to Xplan, Add - Client, Note, Task, Help, Logout and List of Clients. From v2.1 the ‘Home’ button has a default ‘XPLAN’ but can be customised.

• Quick search for Clients, Users, Groups, Documents, Tasks (by ID), Suppliers, Professional Advisors and Referrers

• Displays system notes/messages 

• Recent is the list of clients recently worked on.

• Advanced function allows users to search the client base that meet certain criteria.

Navigation menu

• Located on the left of many XPLAN screens

• Allows for access to XPLAN modules and subsections

Client Focus Screen

The Client Focus screen is displayed when a specific client has been selected and comprises the following sections:

• Title bar provides shortcuts to various commonly used functions within XPLAN.

• Home or XPLAN menu - access to the various XPLAN components are located

Any time you see  click on the arrow to access additional options and sub menus.

Getting Help

Overview

XPLAN has an Online Help function which provides the most up to date information on the different components and tools in the system. Interactive Tutorials are also available for viewing Training Workshops. The Help files also provide updates on all new software versions.

Accessing Help

1. Click on the Help function located on top of the Title bar

2. The “Help” screen is displayed

3. Navigate using the menu bar located on the left.

4. You may also want to use the “Search” function available.

Accessing Interactive Tutorials from within the Help Files

1. Select “Video Tutorials” followed by “Training Workshops” from the menu bar located on the left:

2. Click on the workshop you would like to view.

3. A video will start automatically with a chapter menu available from the left side menu bar.

Creating Client in XPLAN 

Introduction

In XPLAN, client information is entered in the Client Focus component of XPLAN. These details are then be seamlessly transferred to other components eg Xtools+ & Risk Researcher, and be used to craft appropriate financial planning and risk recommendations for the clients.

Scenario

The clients for this workshop are Ray and Marge. They are in their 30’s and have come to you to sought advice on their current and future financial situation. The currently hold a direct share portfolio and superannuation.

Client Details

Investments

Client Objectives

• They wish to diversify their investments

• Investment in line with their risk profiles

Create Client

Work with the facilitator to enter the client’s details. Use your own surname when you enter the client’s name.

Current Portfolio 

Introduction

The IRESS Portfolio System (IPS) allows you to record investment securities and funds held by clients. In this section, you will learn how enter the client’s existing financial assets into IPS.

Scenario

You will access IPS, create a new Portfolio Account (service) and enter the client’s currently held investments/ financial assets.

Accessing IPS

You can access the IRESS Portfolio System (IPS) from Client Focus.

• Enter the client’s Client Focus section for the client

• Select Portfolios from the left hand side Navigation menu
  
  

IPS Menu 

The following are some key pages in the IPS module.

Portfolio

• Position - Displays the client’s current situation

• Transactions – Shows transactions that have taken place

• Asset Allocation – Provides asset allocation of holdings

• CGT – Where modelling on CGT could be done

• Benchmark – Use to compare current holdings with another product

• Settings – To set how you want IPS displayed

Model

• Model – Apply Model Portfolios as a recommendation

• Recommend – Make manual recommendations

• Asset Allocation – View the Asset Allocation of your recommendation

Reports 

•  Reports – Select and run IPS Reports

Admin 

• Properties – Adjust the settings for this client such as Tax Type: CGT Allocation Method and Currency

• External Accounts – View Any Datafeeds that the client has linked to their portfolio

• Cash and Accounts – View Portfolio Account and Cash Account settings

Corporate Actions 

•  Corporate Actions – Apply Corporate Action templates to your clients portfolio holdings

Navigating IPS 

When you select Portfolios (IPS) from the navigation menu in Client Focus the first screen you may enter is the Portfolio > Position page for the client.

Within the Portfolio Position, the following items are available to change which holdings are displayed:

• Client Groups - lists all client entities that the current client is grouped with. When a client has a partner, two additional portfolios are listed here, a joint portfolio and an individual portfolio for the partner. You can select to view all entities and then select a combination of entities.
  
  Click on the clients name and select the entities, whose portfolio you wish to use.
  
  
  
  
• Valuation Date can be changed by clicking on the calendar icon to change the 'as at' valuation date for the holdings overview, instead of the default 'today's' date.
  
  
  
  
• The Grouping setting can be used to change how the portfolio holdings are grouped in the Holdings Overview panel.
  
  
  
  
• The Portfolio Aggregation settings are useful for aggregating investments within and across Portfolio accounts, GICS and across entities.
  
  
  
  No Aggregate - Provides detail on Portfolio (entity owner), Portfolio account, GICS and all underlying investments.
  
  Aggregate accounts - Provides detail on Portfolio (entity), and all underlying investments. I.e.: an investment owned in one or more portfolio accounts in one portfolio is aggregated in this view.
  
  Aggregate GICS - Provides detail on Portfolio, Portfolio account and all underlying investments. Does not list holding by GICS.
  
  
• All or Current Securities allows for the display of either current securities (non-zero holdings), or show all securities (historical holdings).
  
  
  
  
• Cost: Net or Gross cost can be displayed. Net cost is the dollar value spent and excludes transaction components.

You can set the Default Portfolio Display to all clients, if you wish to view all the related portfolios for the client when you enter IPS. 

To do this while in IPS, from the navigation menu select Portfolio > Settings

Change the option for Default Portfolio Display from ‘Chosen Client’ to ‘View All’.

The option selected is saved automatically.

The default holdings view is based on the selection made, but can be overridden via the client groups list.

Portfolio Accounts 

Within portfolios accounts can be created, which allow for investment holdings to be separated and categorised. Reporting and portfolio modelling can be applied to individual portfolio accounts, without interacting with the entire portfolio. Portfolio Accounts were previously called Portfolio accounts.

Portfolio Accounts may include assets held within a wrap account or the segregation of 'inherited assets'. The ‘portfolio accounts’ allow you to segregate assets in a portfolio for any entity. Some benefits of using Portfolio Accounts are summarised below:

• Allows you to individually report on Portfolio Accounts within a portfolio. For example, you are able to review the specific asset allocation or performance for a set of investments within a Portfolio Account, as opposed to that of an entire portfolio.

• Allows you to Review the underlying investment exposure for one Investment across all Portfolio Accounts, i.e.: total exposure to BHP.ASX across all portfolios and portfolio account.

• Datafeeds automatically create a Portfolio Account. Investment Datafeeds update the underlying investment holdings & transactions.

• Refer to the Portfolio Account example on the following page

• Refer to example IPS reports

  • Valuation – Segmented by Portfolio > Portfolio Account > Product

  • Asset Allocation – Overall Portfolio (all entities)

Portfolio Account Example 

Example 1 – Client Entity (Investments held in the client’s own name)

The client entity holds Cash and a Retail managed fund in the Default portfolio account, as well as a portfolio of Direct Shares.
The 4 Direct Shares have been manually added to a Portfolio Account. This investment segregation allows you to focus, review and report on the Share Portfolio itself.

Example 2 – Joint Entity (Investments held in the joint names) 

The Joint Entity owns a Cash account, as well as two Wraps, segregated into Portfolio Accounts.

This segregation allows both Wraps to be reviewed in isolation.

Note that Xplan has automated Datafeeds for both Skandia and BT. When these datafeeds run, the Portfolio Accounts and their underlying investments are automatically created and updated. 

Example 3 – SMSF Entity (Investments held in the SMSF’s name) 

The SMSF entity only has investments held in a Wrap. There are no investments in the Default account.

The CFS wrap account has been automatically created by a datafeed. The Datafeed provides the transactional data for the underlying investments in the CFS portfolio account,

Datafeeds

Portfolio Datafeeds represent an efficient way to import portfolio transactions that are administered by a third-party such as a Wrap, Broker or Master Trust provider. There is no limit to the number, type or source of datafeeds a dealer can accept into IPS. Xplan Technology is dedicated to integrating with your platform of choice.

Datafeeds are specifically integrated with Xplan IPS. Xplan IPS doesn't accept any generic transactional data file. Only those datafeeds that have been implemented between the datafeed vendor and Xplan Technology are supported.

As mentioned in section 1 (portfolio accounts), Portfolio datafeeds will establish a portfolio account automatically. For example, all entities with CFS will have a CFS Portfolio account created in their portfolio section. All underlying investments in this Portfolio account will be updated by the transactional datafeed. 

System Datafeeds

The IRESSnet datafeed architecture uses dedicated systems to obtain and pre-process datafeed information. A 'clean-feed' of client data is then imported into XPLAN. There is a dedicated section in Help to assist understanding and requirements.

User Datafeeds 

This was the first style of datafeed that was developed in XPLAN. User Datafeeds can be automated and managed at a Dealer Level. User datafeeds are manually configured within XPLAN.
Refer to your Xplan administrator for a list of available Portfolio Datafeeds

Corporate Actions 

Corporate actions allow for portfolios to be updated when a holding has an event occur, such as income distribution, buy-backs, splits mergers & de-mergers, rights issues etc. The transactions involved with each corporate action are held in a corporate action template.

Corporate actions can be run on a single client's portfolio, and across a whole database of client's.

The Corporate Action interface in Xplan allows you to efficiently update all IPS portfolios with specific holdings. A declared income distribution is a typical example for the need to automatically update all portfolios en masse. Other events such as splits, de-mergers etc are also applied to affected portfolios via this interface. Xplan also provides Dividend history for most listed investments (including retail managed funds).

Corporate actions supplied by IRESS include:

• Complete corporate action history for the Australian All Ordinaries Index (Top 500 stocks), including all new dividends and capital actions for all listed securities. These are processed as soon as the data is available via IRESS or in the ASX weekly corporate actions summary. Given the volume at different times of the year, specific templates can be prioritised on request (subject to availability of data). Stapled securities are also included in this delivery.

• Corporate action history for all listed securities outside the All Ordinaries Index up to August 2006. Historical templates beyond this can be created by requesting in OSC.

• Distribution details for listed property trusts, which includes income components for tax free and tax deferred, franking and imputation. While any dividends are usually paid quarterly, component information is often only made available towards the end of the year. Corporate action data is usually completed by October.

• Corporate actions for listed managed funds, including income distributions, are sourced from a third party provider. IRESS can liaise with the provider if further data is required.

IRESS provides IPS corporate actions for XPLAN users for equities and listed funds on the Australian Stock Exchange and New Zealand Stock Exchange. IRESS is committed to supplying corporate action templates in as timely a manner as possible, depending on the availability of data.

Creating a portfolio manually

As per the case study Ray and Marge have the following investments:

For the case study we will start by creating portfolio accounts to group investments holdings such as ‘super’ investments and ‘non super’ investments.

Creating a Portfolio Account

We will first create the super portfolio account. To create a portfolio account while accessing a client follow the steps below:

1. On the navigation menu in IPS, select the client you wish to create the portfolio account for. The select Portfolio > Admin > Cash and Accounts.
   
   
   
   
2. In the ‘Cash and Accounts’ screen. On the top right hand side click Add Portfolio Account.
   
   
   
   
3. Enter the details:
   
   
   
   

   Account - enter the portfolio account name e.g. Ray Super

   Include in Corporate Actions – portfolio accounts can be excluded (Deny) from being affected by corporate actions, such as for wrap accounts or portfolio accounts that are updated by datafeeds.

   Allow/Deny Income Cash - controls whether the cash affect of income distributions is included or ignored (paid out instead of reinvested).

   Allow/Deny Capital Cash – controls whether the cash affect of capital corporate actions (i.e. rights issue) are recorded. A stock movement can be recorded without a linked cash effect for payment or proceeds against a default cash asset.

   When a CMT datafeed is being received, the recommended setting is Deny. Distributions are usually included in the datafeed and this prevents double counting.
   When set to Allow, distributions that are not reinvested will be paid to either the specified cash account for the holding or the default cash account. If a cash account cannot be located IPS will create one.

   FUM Scale - select the FUM scale to use for this portfolio account, which can be different to the client's FUM scale. Select Use Client's FUM Scale to use the client's default FUM Scale.
   If No FUM Fee Set is selected, the portfolio account can be excluded from FUM calculations depending on the system FUM configuration.

   Disclosure Fee - set the platform fee for the portfolio account if necessary.

   Account Lock Date – no changes can be made to transactions earlier or on the lock date.

   Client Access Permissions – can provide clients with Client Online Access the permission to edit transactions and apply corporate actions.

4. Click 

We have now created a Portfolio Account called Ray Super.

Complete the following tasks on your own. The facilitator will help you if necessary.

• Create another portfolio account called ‘Investments’ for Ray’s non super investments.

• Create a portfolio account called ‘Super’ for Marge.

• Create a portfolio account called ‘Investments’ for Marge.

Once you have created the portfolio accounts return to Portfolio position for Ray.

IPS automatically deletes unused portfolio accounts each day. Removed portfolio accounts must match the following criteria:

• Not be the default portfolio account

• Contain no transactions

• Contain no external client mappings or IOS connections

• Be empty for greater than one day

• Enabling Corporate Actions for a Portfolio Account allows for holdings to be updated by Xplan when an event has occurred. Such events can include income distributions, share purchase plans, buy-backs or splits. Disable for datafeeds.

• You can also use the Add button on the Portfolio Position page to add a new Portfolio Account. Just select Add > Account.
  
  

Adding Investments manually

We will now add the investments for Ray and Marge in the appropriate portfolio accounts. Let’s start by entering the Super Fund for Ray.

1. To manually add the investments within the Portfolios module, go back to the Portfolio > Position screen. In the navigation menu with IPS select Portfolio > Position.
   
   
2. Click on the Add button in the top right hand corner and then select Purchase.
   
   
   
   
3. You will be presented with the Purchase form (Edit Purchase screen). To enter the super fund (MLC Mkey Super Horizon 2) for Ray, click on the magnifying glass (Search).
   
   
   
   
4. Type in the fund name and click on search. Once you have the search results click on select against the fund the client holds. Note: If you don’t know the exact fund name use the wildcard *.
   
   
   
   
5. You will be taken back to the ‘Edit Transaction’ screen. The investment code and exchange will now be displayed.
   
   
   
   
6. Enter the Purchase details as follows:
   
   
   
   
7. Enter the transaction details as follows:
   
   
   
   As per the case study we know the dollar amount of the super funds. We will enter that detail in the ‘Gross Amount’ field and then click on the calculate units icon to get the number of units.
   
   
   
   
8. Click 
   
   
9. You will then be prompted to add the holding (investment) details as follows:
   
   
   
   

   • Reinvestment Percentage - identifies what proportion of the generated income will be reinvested into the holding

   • Subject to CGT - allows the holding to be excluded for CGT purposes. Note that pre '85 assets will have no capital gains tax consequences automatically.

   • Exclude from Reports – will exclude the holding from reports.

   • Under Management - will this holding be included in your 'Funds Under Management' calculations

   • Cash Account - this allows a holding to be identified as a cash account

   • Name Override - this will rename the holding
     
     

10. Click  You will be returned to the Portfolio > Position screen. The investment you just added will now be displayed.
    
    

Complete the following tasks on your own. The facilitator will help you if necessary.

• Add the non-super investments for Ray.

• Add the super investment for Marge.

Once all investments are added go back to Ray’s current portfolio.

• Investments are referred to as ‘Holdings’ in IPS.

• Each holding is assigned individual ‘Holding ID’s or ‘Position Numbers’. When adding a new holding, the ID gets allocated automatically.

• You can view the clients portfolio, by select the portfolio account you wish to view or selecting ‘View All’ to see all investments for the client

• Setting the Grouping to the ‘Portfolio, Account’ option will allow you to view which portfolio account the holding belongs to.

• The ‘No Aggregate Portfolio accounts’ option allows you to ‘edit a holding’. Click on the arrow next to the holding you wish to edit.

• You can also ‘View all’ the related client group portfolio as one by clicking on the client name and selecting ‘View All’ in the ‘client group’ dropdown.

• When in the view all option, you do not have access to Admin functions for IPS and Purchase and Sell options.

Grouping View: ‘Flat Data’ 

Grouping View: ‘Portfolio, Account’ 

• The Portfolio Settings screen allows default settings to be made on a per user basis (i.e., any setting changes made affect just the user making the changes). Select Portfolio > Settings. Select aggregation preferences for both Model and Existing views, with single or multiple portfolios being viewed.

 View and Edit Transactions

1.  To view or edit a transaction, click Transactions in the navigation menu.
   
   
   
   
2. Change the filter options to modify the transactions which are viewable.
   
   Change the date range filter option to Since Inception by clicking on the arrow and choosing since inception.
   
   Change the security filter to ‘IRE’.
   
   
   
   
3. Click on the arrow next to the transaction you wish to change and select ‘Edit transaction’. This will take you back into the ‘Purchase’ Screen where you can make any changes.
   
   

• To edit the holding details (re-investment percentage etc), in the Portfolio position page, select ‘No Aggregate’ option, then click on the arrow next to the holding you wish to edit, then click on ‘Edit Holding Details’
  
  
• To add a sale click on the arrow next to the holding and select ‘Add Sale’. You will be directed to the ‘Sale’ screen. Enter the details of the sale.

Running Corporate Actions 

According to the case study, the investments Ray owns were purchased in 2005 and he has been reinvesting the dividends. To get his portfolio up to date we will run corporate actions to include the dividends.
While accessing the client’s portfolio, follow the steps below:

1. Select the client group for which the corporate actions are to be run.
   
   
   
   
2. From the Navigation menu in IPS select Corporate Actions > Corporate Actions
   
   
   
   
3. Set the date range filter to ‘Since Inception’ as we will be running all the corporate actions for the investments from the time they were bought. The page will refresh once you select the date filter.
   
   
   
   We now have a list of all corporate actions for the clients’ investments in his Investment portfolio account. We will now run the corporate actions one by one for each investment.
   
   
4. To get a list of only the WOW corporate actions click on ‘Filter By Security’
   
   
   
   
5. Search for WOW.ASX (this is similar to searching for investments as discussed earlier). Click on the holding name.
   
   
6. Now you have a list of corporate actions for WOW shares. All the actions are ticked () as none of these actions have been included for the client. If you do not wish to run a certain corporate action simply untick the corporate action. In this case we are going to run all corporate actions.
   
   
7. Click Execute
   
   
   
   
   Once the corporate action has been run it will be unticked.
   
   
   
   There are many other corporate actions that can be run against a client portfolio, for example Market Buy-Backs, or Share Purchase Plans. We will have a look at how to run these below.
   
   Market Buy Backs:
   Search for all WOW.ASX corporate actions as at Since Inception using the filters we have mentioned earlier, located on the top right hand side.
   
   
   
   Let’s have a look at running the Off Market Buy-Back dated for the 31st of August 2010.
   
   The first step in this case is to enter the percentage that the client will take up. In this example we will assume the client is willing to sell back 50% only. To do this we simply enter in 50% into the renounce column.
   
   
   
   We then click the Execute button on the top right hand side to run the action.
   
   
   
   Let’s now look at the transactions and the effects for this corporate action. We can view these transactions by navigating into the Portfolio Position area and then by clicking on the arrow next to the WOW.ASX holding and choosing the ‘View Transaction’ option.
   
   
   
   As you can see the sale was made for 50% of the total volume, 1500 units and income was also paid into the account.
   
   Share Purchase Plans:
   There are also other actions you can run such as ‘Share Purchase Plans’. Let’s have a look at how this effects a clients portfolio.
   
   In this example we are using NAB.ASX which is not in this case study but it will give you a good idea of the effects of running a Share Purchase Plan.
   
   The corporate actions we are going to use in this example is the $15,000 allocation at $21.50 per share corporate actions which is pictured below.
   
   
   
   The first step is to tick the box on this action, then allocate a percentage of how much you would like to take up. In this example we are going to take up the full $15,000 allocation.
   Therefore we enter in 100% in the renounce box.
   
   Then we click on the execute button:
   
   
   
   Let’s have a look at the effects of running a ‘Share Purchase Plan’.
   We can view these transactions by navigating into the Portfolio Position area and then by clicking on the arrow next to the NAB.ASX holding and choosing the ‘View Transaction’ option.
   
   As below, you are able to see that the full $15,000 allocation was taken up and therefore 698 units were purchased as a result.
   
   
   
   

   Reversing Corporate Actions
   

   If you have made a mistake by choosing the wrong percentage or even running the wrong corporate action it is always better to get the software to remove the corporate actions instead of clicking on the arrows next to individual transactions and removing them.
   
   This is because there is a Reverse button available for situations like this to ensure all transactions in relation to the corporate actions are removed.
   
   Let’s now reverse the action for WOW.ASX.
   
   

   Navigate back to the Corporate Actions Screen.
   
   Tick the action you have run and then click on the Reverse button on the top right hand side.
   
   
   
   
   This will remove all transactions related to this corporate action without you having to remove them manually.
   
   
   
   
   Complete the following tasks on your own. The facilitator will help you if necessary.

   • Run corporate actions for IRE.ASX investments

Once the corporate actions have been included go back to Ray’s current portfolio and view the transactions.

• Corporate actions can be run against a single portfolio as show above. It can also be run against portfolios.

• To run corporate actions in bulk follow the steps below:

  • Access the Corporate Actions manager from the home page > Portfolio Functions > Corporate Actions

  • Click Filter By Security. The Security search dialog box displays.

  • Enter the Security Name, and then click Search. Click Select to choose a security.

  • Use the date range filter list to select the date range of corporate actions to display

  • Clicking on the arrow next to the corporate action and choose view effects to display all the clients who hold the security.

  • Tick Include to select the client portfolio portfolio accounts to be modified by the corporate action. By default all clients that have not previously had the selected action run will be ticked.

  • Click Execute. The portfolio holdings of all selected client portfolio accounts are modified by the corporate action template

• Some corporate actions are updated after release, typically for taxation details which do not become available until the end of the tax year. You can select previously run corporate actions and click Update to reapply the updated template.

• You can reverse the actions of executed corporate actions. When reversing actions from within a single client portfolio you can select and reverse multiple corporate action templates. Reversing from the Corporate Actions manager on the home page allows you to reverse a single corporate action template for multiple client portfolio accounts.

  • Select the previously executed corporate action to reverse. You can identify already run actions by Yes in the Executed column.

  • Click Reverse.

Current Portfolio analysis

Once the client’s portfolio is created you can run profit analysis, compare the portfolio against benchmarks, view CGT and also asset allocation.

Profit Analysis: calculates at the portfolio’s IRR over a period of time

While accessing a client:

1. On the navigation menu in IPS, select Portfolio > Profit Analysis.
   
   
2. Select the period for the analysis from the Time Frame list. Choose the portfolio account to view from the Portfolio accounts list.
   
   

Asset Allocation

Graphically displays the current assets within a client portfolio, and allows for comparison with a client's risk profile.

While accessing a client:

1. On the navigation menu in IPS, select Portfolio > Asset Allocation.
   
   
   
   
2. Click on the Display drop down menu to view the asset allocation as a Pie Chart or Bar Graph, or in Comparison to the client's target asset allocation. Use the Account drop down menu to view assets within each portfolio account, or View All displays all of a portfolio's assets.
   
   
   
   Move your mouse over the chart or graph to display the actual asset allocation figures.
   
   Use the tabs across the top of the screen to view the different graphs and charts available.

CGT

You can view the CGT implications for the client’s portfolio in this section.

While accessing a client:

On the navigation menu in IPS, select Portfolio > CGT. You have access to the following CGT
options: Realised, unrealised and Links.

Realised CGT: will display calculations for any CGT which has been realised (if there has been a sale). The screen will be blank if there is no realised CGT. You can use the date and portfolio account filter to view CGT.

Unrealised CGT: will display calculations for any CGT which has been not yet been realised (if there are no sales). You can use the portfolio account filter to view unrealised CGT.

Links: are used to optimise CGT. XPLAN can determine either a minimum or maximum gain for an optimum CGT result. We will look into this feature later in more detail.

Linking for CGT (LIFO, FIFO or Custom)

When a sale is made within the client’s portfolio, you can select which lot of units will be sold off to minimise or maximise CGT. You can select Last In First Out (LIFO), First In First Out (FIFO) or custom. XPLAN can also determine either a minimum or maximum gain for an optimum CGT result. We will show you how you can use each of these options. While accessing a Ray’s investment portfolio:

1. Make a sale. Work with your facilitator to sell 500 units of IRE.ASX.

2. Once you have made the sale go back to the current portfolio.

3. To view the sale, from the Portfolio > Position screen, click on the arrow next to the holding (IRE.ASX), select ‘View Transactions’.

4. To select units to sell use one of the following methods:

Automatic allocation

Using the Allocation Scheme list, select either FIFO or LIFO. FIFO (First In First Out) will allocate units for sale by selling the oldest available. LIFO (Last In First Out) will allocate units by selling the most recent available. Click on the arrow next to the sale to select option as shown below.

 Manual allocation

1.  Click on the arrow next to the sale transaction and select Link to Purchase as shown below.
   
   
   
   
2. You will now be on the ‘Link To Purchase’. Select Custom in the Allocation Scheme list
   
   
   
   
3. In the Allocation column, enter the number of units to sell for a purchase transaction. When Unmatched Volume is zero (0), all units to be sold have been linked to purchased units.
   
   
   
   
4. Click 

CGT Optimization 

This optimisation function can be used to optimise the CGT across multiple sales or a time period. We use the example above and run the CGT Optimization option to get the maximum and minimum CGT.

1. On the navigation menu, select Portfolio > CGT > Links.

2. You will be directed to the CGT Transaction Linking screen. Select the portfolio account for which the linking is to be done and the date range. Then click on the  against the holding to be linked and select the sale. On the right side of the screen you will be able to view the CGT.
   
   

1.  Click on ‘Run Optimization’ and choose the method.
   
   
   
   
2. The CGT details will display the ‘Min Gain’ or ‘Max Gain’ profit and CGT.

 
Within this training environment and Case Study, the situation has been set for all buys and sells happen around the Corporate Actions. In real application, all buy and sell transactions should be in place in the portfolio BEFORE running the Corporate Actions to ensure the correct holding balance is used for calculation.

CGT:

• Pre-Offset Gain - shows gains (realised and selected unrealised) based on CGT rules, prior to including the Carried Forward Loss.

• Gross Gain - shows the gross gain, prior to applying the Carried Forward Loss.

• Losses Used to Offset - shows where the Carried Forward Loss will be applied. Losses are offset to ‘less than 12 month gain’ with priority to maximise effect.

• Post-Offset Gain - uses the Carried Forward Loss to offset against the Pre-Offset Gain. Losses are offset before any post 2001 discount is applied.

• Realised Gains - Current Financial Year - the CGT from actual portfolio transactions.

• Unrealised Gains - Today - the CGT for each purchased unit of security that is proposed to be sold.

• The  button will permanently save all displayed links, preventing them from being modified by future optimisations. This cannot be reversed, and should only be used when the links should no longer be modified, such as if a client's accountant confirms that the CGT for the filtered links has been applied in a tax return.

• To remove a link, while accessing a client on the navigation menu, select Portfolio > Transactions. Click on the arrow next to the sale transaction, and select Clear Links.

• The Unmatched Volume column displays the total number of units sold, as there are no longer any links to purchases

Benchmark Analysis

Client portfolios may be compared to user-selected benchmarks on a time weighted rate of return (TWRR) basis.

While accessing a client:

1. On the navigation menu, select Portfolio > Benchmark. The benchmark graph displays, showing both an Accumulation and an Adjustment comparison between the portfolio and the benchmark.
   
   
   
   
2. Enter the benchmark code and exchange, for example IRE.ASX and click 
   
   
3. Use the following to change the benchmark display:
   
   Chart Type - Show comparison graphs of Accumulation Only, Adjustment Only or Both
   Date Range - Choose the period to run the portfolio benchmark
   
   

Portfolio Modelling (IPS)

Introduction

Overview

This section allows you to make recommendations and proposals within the client portfolio. You can add new investments and increase/decrease exposure to existing assets, you can also create an investment strategy that will meet the client’s objectives and target asset allocation.

Portfolios can be modelled by manually building a portfolio proposal or by applying a model target set. A target set consists of a selection of securities and the recommended weighting for each security.

Scenario

For the purpose of the case study we will use both the modelling options (manually building proposals and target sets). For Ray we recommend the following:

1. Rollover his existing super into MLC Mkey Super Horizon 5 fund

2. Rebalance his investment portfolio by reinvesting his investments in the Growth model portfolio (Growth Target Set)

Recommending Portfolio – Manual

Scenario: Rolling over Ray’s existing super in to MLC Masterkey Super Horizon 5 fund

While accessing the client:

1. On the navigation menu in IPS, then go to Model > Recommend.
   
   
   
   
2. Choose the Super portfolio account to work with at the top of the screen.
   
   
   
   
3. To add the MLC MKey Super Horizon 5 Fund to the proposed portfolio, on the top Right hand side click on , on the top right hand side of the screen and then select ‘Holding’.
   
   
4. Click on  to search for the holding code.
   
   
5. The Add Holding screen is where you search for the fund selected for the client to invest in. In the “Security name” field, type “MLC Masterkey Super Horizon 5” and click on Search and select it. OR use * as wildcard.
   
   
   
   
6. Enter the market value currently in the MLC Masterkey Super Horizon 2 fund and then press the ‘Tab’ key or click into another field on screen to calculate the number of units.
   
   
   
   
7. Once the fund has been selected you will be taken back to the ‘Recommend’ screen. Here now, you have the option modify the holdings by the percent amount, dollar amount or by number of units. This can be done by clicking on the arrow in the adjustment text fields to switch between using percentage, money or unit values.
   
   
   Note: We will make dollar amount adjustments.
   
   
8. Using the Adjustment column, we will decrease holdings for the existing fund by typing in the appropriate amounts as shown below:
   
   
   
   

Work with your facilitator to model Marge’s Current portfolio.

Rollover her super into MLC MKey Super Horizon 5.

Recommending Portfolio – Model Portfolios

Scenario: Rebalance his investment portfolio by reinvesting his invests in the Growth model portfolio (Growth Target Set)

Target model sets create a portfolio proposal using a saved collection of securities. They can be applied as a percentage of the total portfolio weight (Portfolio Weight Method), or applied to individual portfolio accounts (Current Method). The existing holdings will be changed, with funds being redistributed to match the targets within the model set.

While accessing the client:

1. On the navigation menu in IPS, select the Ray via the Client Group area, then go to Model > Model. You will be directed to the ‘Model’ screen’. All the portfolio accounts for Ray will be displayed here.
   
   
   
   
2. Click on  to select the portfolio account to apply a target model. You will be directed to the ‘Model Name’ screen
   
   
   
   
3. With the portfolio account selected, click  under Target Set Products to add a target model set, then select ‘Growth Portfolio’ from the list under “Set Name”.
   
   
   
   Click 
   
   
4. Once the Target set product is selected, the Model area will update to include the target set product selected.
   
   
   
   Here now we update the percentage of the total weight of the current portfolio that will be transferred to selected target set.
   

   • Weight (Portfolio) (only available on portfolio accounts set to Portfolio Weight) this sets the individual portfolio account to be a percentage of the total portfolio value for applying the target model set. For eg. If you want the portfolio account Super to be 50% of the total portfolio value for Ray. Select ‘Portfolio Weight’ and in the weight enter 50%.

   • Weight (Target Set) – (right hand side of the screen) this is the percentage weighting of the proposed portfolio value that will be applied to the Target Set(s) for that Portfolio account.

   • Current only applies the target model set to that individual portfolio account's holdings and cash, regardless of how this amount compares to the rest of the portfolio. For eg. if you select ‘Current’ the target weight for the proposed portfolio will be unchanged.

• Reserve (Right hand side of the “Model” Panel) - allows the elected portfolio reserve value to be excluded from the target set distribution.

• Exclude Security Filters – These apply to the current portfolio. Any holding listed here will prevent it from being changed. Exclusion will cause the target model set to only rebalance the rest of the portfolio.

• Security Substitutions – will substitute one security in a target set for a different security.

• Security Adjustments - These apply to the proposed portfolio. It will supersede the allocation values for a security in the target model. The following Override Types are available:

  • Simple Override – replaces the existing target weight with the new value. The example below will set CBA to 15%

    
    
    
    

  • Active Override – adds the new target weight to the existing target weight. The example below will set CBA to 25%

    
    
    
    

  • Current Override – the current volume is set as the target volume. When the client has the same holding in the current portfolio, this option will leave the current portion holding as it is. For example if the client has 30% in IRE.ASX in the current portfolio, selecting the current override option will leave IRE.ASX as 30%.

  • Min Vol Override – overrides and sets the minimum target volume (number of units that will be purchased)

  • Max Vol Override - overrides and sets the maximum target volume (number of units that will be purchased).

  • Gross Up - if the percentage totals of the portfolio are less or greater than 100%, the portfolio accounts will all be proportionally adjusted to make they all total 100%.

• Multiple target model sets can be added for each portfolio account. The weight of each target model is set in WEIGHT under Target Sets.

• Minimum Adjustment can be used to set a minimum value for any purchases and sales. Any figures below this value from the target model set will not be applied. In Model > Target Effects enter the minimum amount to be adjusted.

  
  

Effects of a Model Portfolio

Once target model sets have been used on a portfolio, the proposed changes need to be checked in the Target Effects Panel. The Target Effects will have automatically updated according to what has been indicated in the Model Panel.

The effects of the target sets can be altered by:

• Using ‘Calc Date’ to set the date for the proposed portfolio modifications
• The Adjustment column can be used to manually alter the value of the proposed investment changes.
• Click on Cash Injections to add additional cash. This will distribute the cash to all the proposed holdings proportionately.

Click  This will take you to the ‘Recommend’ screen, with the adjustment figures as the proposed portfolio changes.

• A simplified version of modelling is available through  This model also allows for funds to be easily transferred between portfolio accounts.

• Creating Target Model Set - Access the Portfolio Modelling manager from the home page.

  Xplan > Orders and Modelling Functions > Portfolio Modelling

  • Within Portfolio Modelling, on the navigation menu Target Sets > Target Sets.

  • Click 

  • Add the Target Set Name and a Description.

  • Set the following permission settings:

  • Target Set Owner - which user will be the set's owner

  • Only Editable by Target Set Owner - can be used to prevent all other users from modifying the target set

  • Visible to All - Yes allows all groups that the owner is a member of to access the target set. Otherwise, allowed groups can be selected under Group Access.

  • Click under Targets to add a target.

  • Fill in the target's Security, Exchange and the Target % for this security, e.g. IRE ASX 50 would model a portfolio to have 50% of value as IRE.ASX shares.

  • Repeat for each target to be added.

  • Click Save.

• Asset Allocation: Proposed Asset Allocation charts can be viewed by clicking on Model > Asset Allocation

• CGT Analysis: CGT Analysis displays linked sales and what the capital gains tax (CGT) effects of a proposal portfolio would be. While accessing the clients portfolio, select Model > CGT Analysis
  

  1. Enter a Carried Forward Loss if you wish to carry forward CGT losses from previous tax year.

     

  2. Use the portfolio account list to view the gains for each listed portfolio account, or select View All to see the total gains for the portfolio

  3. Under Unrealised Gains - Today, tick the checkbox of each transaction to be accepted. As they are ticked, the transactions change the CGT losses and gains information appropriately
     
     
     
     

  4. Click Accept as Recommendations. The ticked sales replace the Adjustments in Recommend (the ticked holding above will appear as decrements in the Recommend screen).

To implement a portfolio proposal

Once the proposal for changing the client’s portfolio has been finalised, the next step is to apply these changes to their portfolio, (you will only need to do this if there are no datafeeds being received).

1. While accessing the client portfolio, on the navigation menu, select Model > Recommend.
2. Click on the arrow next to the holding and from the menu choose ‘Implement to Transaction’.
3. Once the investments have been selected click on the main arrow in the heading column and then select Implement.
   
   
   
   
4. The portfolio accounts list can be used to display each portfolio account's changes, or View All to display all changes.

• Work with your facilitator to implement Nick’s proposed changes.

Once the transactions have been implemented go back to Nick’s current portfolio and view the transactions.

Portfolio Administration

Customising portfolio view

The columns of information displayed in the portfolio view (Portfolio > Position, and Portfolio > Profit Analysis, Portfolio > Transactions) are customisable. You can select the columns to display, reorder them, and define their individual width.

To customise the columns to display:

1. Click on the configuration icon  and choose Temp.Table Config

   

2. Tick the Column check boxes of the columns to display.

3. Click the Order arrows of a column to move it either up or down in position. The top column is the first column displayed in Portfolio.

4. Enter a specific Width in pixels for each column if you want to fix its width rather than have dynamic sizing applied by default. Without dynamic sizing applied, description text wraps in fixed width columns.

5. Click Ok. The display changes to reflect the column selection.

To set default and save customised portfolio views

The columns displayed in the portfolio view can be set and saved at individual user, group, or site-wide levels. A saved layout can then be set as the global or group default, which will always display unless a user enables their own individual default setting.

1. Click on the configuration icon  and choose ‘Edit.Table Configs’. The Edit Table Configurations dialog box displays.

2. Set the available options:

3. Configuration Level - whether the configuration is for the user, a group they belong to, or global. We will select User for today’s workshop.

   

4. Group Name - when User Group is selected for Configuration Level, a Group Name field appears with a list of the current user's groups to choose from. Select the user group for this layout here.

5. Default configuration - sets the default for the selected Configuration Level

6. Configuration being edited - select the configuration to edit

7. Add New  - create a new layout for the selected Configuration Level. Click on the Add New icon and enter details, you can then choose to use this access this option.

8. Delete  - delete the layout currently selected in Configuration being edited.

9. Tick the check boxes of the columns to be displayed.

10. Click Save.

To change the order of holdings

Portfolio holdings can be arranged according to any of the data columns displayed. The holdings are arranged into either alphabetical or numerical order. This can be done by clicking on the column heading to be sorted by. To reverse the sort order, click the column header a second time.

Transfer Holdings

Holdings within a client's portfolio can be transferred between a client's portfolio accounts, or even to a different client. This function can be used to move holdings into a portfolio account that represents a wrap account.

For the purpose of this case study, we will now transfer the ‘Investment’ portfolio account from Ray to Marge’s individual investment account. Work with your facilitator to transfer the holdings.

1. While accessing Ray’s portfolio, on the navigation menu, select Admin > Transfer Holdings

   

2. Under Select Source select Ray’s investment portfolio account. As you have accessed Transfer Holdings while viewing a client, the Portfolio list contains all portfolios associated with the client.

   

   (You can also click  to search for a different client portfolio.)

3. Select the Source Portfolio account. Selecting Transfer All will move the transferred product from the entire source portfolio.

4. Select the product/s to transfer by either:

   • Enter the Investment Code and Exchange of the product, or click Search to search for the product. This way we will be only transferring the unit IRE.ASX.

     

   • Click  to display a list of all holdings in the current source portfolio if you want to transfer more than one unit. Tick the holdings to be transferred.

5. Under Select Destination choose the destination Portfolio (Marge) and select the Destination Portfolio account (Marge Investments).

6. Set the following settings:

   • Transfer Holding Details - select to Keep Existing Position Details or Replace Existing Position Details. This will affect the Holding Details for the position ID.

   • Reapply Corporate Actions - during transfer existing corporate actions will be lost. Select whether corporate actions should be reapplied after transfer.

   • Remove Datafeed Links - transactions from datafeeds have external IDs to allow for updating of transaction information. This setting can remove these external IDs, preventing a datafeed from modifying transactions that have been transferred. This setting is important when transferring holdings between platforms.

   • CGT Optimization - select if CGT Optimisation should be applied, and if so what type.

7. Click Transfer. The selected holdings are removed from the source portfolio account and transferred into the destination portfolio account.

You have now transferred the ‘Investment’ portfolio account from Ray’s portfolio to Marge’s portfolio.

You can also access Transfer Holdings from your Xplan menu > Portfolio Functions > Transfer Holdings.

Under Select Source select a client Portfolio. You can click  to search for a client. Then you can select the portfolio account. All the other options are similar to ‘Transfer Holding’ from within Client Focus.

In some instances you may wish to move a security from one platform to another, such as between Wraps, from a Wrap to personally held, or vice versa. When datafeed data is involved existing information such as CGT and performance calculations can be preserved using the following steps:

1. Allow new datafeed to run. This will setup the destination portfolio account.

2. Remove the datafeed mapping for the existing datafeed: While accessing a client:

3. On the navigation menu, select Portfolios. The client's Portfolio Position displays.

4. On the navigation menu select Admin > External Accounts.

5. Delete the external account mapping.

6. Use Transfer Holdings to transfer the client's holdings from the existing portfolio account to the new portfolio account. Remove Datafeed Links should be set to Yes.

Audit Trail

Each modification to a client portfolio is logged to a permanent audit trail. The audit trail can be accessed to view these changes and used for compliance purposes. To access a portfolio audit trail, while accessing the clients portfolio:

1. On the navigation menu, select Portfolio, then select Admin > Audit Trail.
   
   
   
   
2. Select the Portfolio account to view, or select View All to list modifications for the entire portfolio and also select the date range to display.
   
   

Portfolio Properties

The portfolio properties screen can be used to set the CGT options, tax structure etc. To set the properties while accessing the client’s portfolio, select Portfolio > Admin > Properties and then select the options:

Consolidated Portfolio Reporting

A number of reports are available in the IPS. Reporting can be conducted across various periods, entities and subgroups. This is Consolidated Reporting made easy. Select the entities to report on, choose and tailor your investment report, and then generate the report.

Generating reports

1. While accessing the client’s portfolio, on the navigation menu select Reports > Reports.

   

2. Select the entities you wish to report on using the checkboxes across the top. Reports will be consolidated for the selected entities.

   

3. Select each report required by checking the Select Report box on the left. You may select all by clicking on the box at the top of the list, or deselect all by clicking on the tick. Filter the report list using the Category drop down filter.

   

4. You can add the particular report to your “Favourites” list by selecting the box under the “F” heading.

5. Finally, the Reporting Timeframe, Report Sorting and Report Grouping should be identified by clicking on the Drop Down menu (example below).

   

6. Identify the required report format by making a selection from the drop down list. Reports may be generated in PDF, HTML (screen display) or CSV (for spreadsheet access i.e.: MS Excel) format.

7. Turn the Portfolio account Exclusions on, off or inverted as required. Inverted will generate the reverse of the existing filtering (see page 61 in more details).

   

8. Click on  (top right hand side of your screen). You will then be prompted to either Open or Save the generated document. For this workshop select open. You will now have you IPS report.

   
   

Creating a list of favourite reports

This option is provided in the reports list. You may filter the list to show only those reports identified as your favourites, avoiding the need to display the reports not regularly used. Choices may be made by placing a tick in the Fav. box next to the required report. Click on Save Settings to save the Favourites.

The favourites list is user specific and will be retained as you move between client records.

There are over 200 reports in IPS. These reports have been saved in different categories e.g. asset allocation, tax, valuation etc. If you which to view only reports on Asset Allocation you can do this by using the ‘Category’ dropdown option and selecting Asset Allocation. Doing this you will now only view Asset Allocation Reports.

If you have saved Favourite reports you can select ‘Favourites’ and this will show your Favourite reports.

Portfolio account Filters

IPS reports may be filtered to include/exclude selected portfolio accounts. This is useful if you need to exclude specific portfolio accounts from your investment reports. For example, a client's portfolio may include a super portfolio account and a non-super portfolio account. Portfolio account filtering enables reporting on a super only (or non-super only) basis.

It is also possible to reduce a portfolio account reference to a single line in reports e.g. a valuation will only include the total for the selected portfolio account.

To exclude a portfolio account from reporting:

1. While accessing the client’s portfolio, on the navigation menu select Reports > Reports > Filters.

   

2. Go to the Exclude Portfolio accounts tab. Click on the to the left of the required entity to see the available portfolio accounts.

3. Click on the ticked box of the portfolio account to be excluded. A red cross will appear as follows:

   

4. In the above example we have excluded the Default and Super portfolio accounts

5. Continue this process for the remaining portfolios as required.

6. Click on  to retain your changes.

7. Go back to Reports > Reports.

When  reports will be only generated for the Investment portfolio account. You can turn off or invert the portfolio account exclusion. When ‘Off’ reports will be generated for all the portfolio accounts and when inverted will run reports on the portfolio accounts excluded.

Bulk Portfolio Reports and Management Reporting

Xplan provides the function to report on portfolios across your client base. You can run Portfolio Reports from the Management Reports section or you can run bulk IPS reports.

1. After completing your client search, select the Reports menu from the left hand menu, and then select Management Report.
   
   
   
   
2. Choose the ‘Select Report’ dropdown option, and navigate to the Portfolio Reports section. Brief descriptions on some portfolio reports are detailed below:
   
   
   

   
   Detailed Security FUM Report - Provides a summary for a specific investment across your client base. For example, all clients holding IRE.ASX. This is a useful report to determine your clients’ exposure to a specific investment.

   Valuation for a Vendor - Provides a valuation summary for all clients invested with a specific datafeed vendor. For example, all clients invested with BT WRAP. This is a useful report to determine how much FUM is with a specific vendor.

   Funds under Management - Provides a FUM report across all searched clients. This report allows you to determine the level of funds that is and is not being managed by your business.

   Portfolio Holdings - Provides a complete summary of all investments across all searched clients. This report allows you to determine total value of all investments. For example, detail of every investment owned with ownership and valuation detail per entity.

3. After completing your client search, select the Reports menu from the left hand menu, and then select Portfolio Reports.
   
   
   
   
4. Select the reports you wish to run and click on generate (similar to running reports for a single client).
   
   

Portfolio Searching

Xplan provides the function to interrogate portfolio information across your client base, using your own criteria as Search parameters.

Some common searches are:

• All Clients with a specific investment (i.e.: IRE.ASX).

• All Clients with a specific vendor (i.e.: all clients investing in BT WRAP)

• All clients with a CASH account (CASH.UNL) greater than $50,000 that are 60 years of age and over.

Portfolio Criteria Search:

1. Click Advanced >Advanced Search in the application bar (top-right).
   
   
   
   
2. Click Add to add a Search Criteria. You will be provided with eight tabs; Note that a combination of field/group, portfolio and campaign criteria may be used. We will be using the Portfolio Criteria tab.
   
   
3. Click on Portfolio Criteria. For the workshop we will run a search of all clients who have IRE shares. Enter the details as follows:
   
   
4. Click Add, the criteria will now be added to the Criteria list.
   
   
5. Continue steps 2-4 until all criteria are entered.
   
   
6. Once all the criteria have been added click on Search to get the list of clients.
   
   

Search Type - there are number of searches that you can run in Xplan 

 A brief description on some portfolio searches are detailed below:

• External ID Search - search of external ID numbers/references

• Subfund Search - search across portfolio account names

• Non-Zero Holdings Search - enables product specific searches

• Vendor Search - search clients receiving a selected datafeed.

• Portfolio Group Search – search across specific Xplan portfolio groups

Portfolio – you can run the search for different entities. You will need select which entity portfolio you wish to include in the search 

Code & Exchange – you will need to enter the code and exchange for the holding you wish to search for. If you do not know the code or exchange for a holding you can use the search button. 

Portfolio Report Builder

Portfolio Report Builder allows the user to amend certain portfolio reports. Access Portfolio Report Builder through Administrative Functions > Portfolio Report Builder.

Custom reports are created from one of the existing reports. The new custom report is therefore an exact copy of the base report, and can be customised as required.

1.  Choose the report category from the Categories list. Select the cross next to a report you wish to use as your base report.
   
   
   
   
2. Set the following details:
   
   
   
   

   Default Title - the name of the custom report displayed in the report builder list

   Report Title - title text displayed on generated reports

   Page Layout - the orientation of pages, either Landscape or Portrait.

   Category - the report category for the custom report.
   
   

3. The report is made up of 3 bands - Title, Column and Footer bands.
   

   Contents
   
   
   

4. Within each of these bands are ‘elements’ that make up the columns of information in the report. These ‘elements’ can be deleted through the use of the red x icons. If an ‘element’ is deleted from one band, then generally any corresponding ‘elements’ within another band should also be deleted.

5. ‘Elements’ within bands can be moved either to the left or right through the use of the arrow icons .

6. ‘Elements’ can be added (thereby adding an extra column of information to the report) by either selecting the green + icons within each band (to add individual ‘elements’ per band), or the green + icon at the top right of the screen (to add ‘elements’ to all bands at once).

7. Each ‘element’ has attributes associated with it and which need to be defined. The attributes will be dependent upon the type of ‘element’ eg ‘elements’ within the Title band are labels and therefore their attributes are mainly of a formatting nature. Selecting the Edit icon gives access to the ‘elements’ attributes.

8. Selecting the Edit icon next to the relevant attribute allows it to be modified.
   
   
   
   

9. Red attributes are compulsory, and can be amended if an Edit icon is displayed. Blue attributes are optional.

10. ‘Show unused attributes’ can be selected to display all unset optional attributes.

11. Once the report has been amended it can be saved. Click on Save. You will be directed back to the main Report Builder screen, where you will be able to see the report you just created.
    
    
    
    It will then appear in the list as a ‘Custom’ Report. Custom reports can be amended and deleted as required.

12. Within the Portfolios module / Report section, the report will be listed along with the standard reports.