Webfolio functionality -
management - Contacts -
Does Webfolio manage
limits or constraints?
Constraints are “tests” that
are applied to portfolio properties and underlying investments. Four
levels of constraints exist in Webfolio: company-level,
management style, portfolio, and manager-level. Constraints at the
company-level affect all portfolios, whereas the remaining
constraints apply only to individual portfolios. Constraints are of
many different types. Here are some examples:
example: “Current (cash) account must be >=5% of the
Free constraint: “Call
accounting before entering any transactions on this account.”
“Total weight universe investment must be >=10% in x
“Number of advisors must be >= to three.”
Liquidity constraint: “70%
of the portfolio must be liquid in <=60 days using Liquidity
“Leverage must be <=20%”
How does Webfolio
Webfolio takes into
consideration notice periods, subscription and redemption
frequencies, lock-out periods, penalty periods and amounts,
subscription and redemption gates and cash flows to measure
liquidity for underlying funds, portfolio liquidity, and portfolio
average liquidity. Further, it features these multiple algorithms
for liquidity calculations for constraint testing.
How do I run “what-if”
scenarios in Webfolio?
back-testing as well as simulations. A back-test uses an existing
portfolio’s position as the starting point and back-tracks
historically to look at the performance. A simulation starts with
any user-definable universe or subset of a universe and runs a
back-test on it. Equi-weight calculation is used on dropped funds or
styles. Parameters can be set to control the back-test run,
including length of time, number of funds, forex hedging, and fees
What asset classes does Webfolio
Currently Webfolio can have
fund-of-funds, hedge funds, and forex in its positions.
Does Webfolio track the
difference between estimated and official quotes?
An estimate can be created for any
level of quality, the key being if the underlying quotes for the
required quality exist in the quote database. Webfolio will
advise and stop an evaluation if the required quotes are in fact not
available. Incoming quotes can be identified as to quality, source
Can I publish a fund?
In Webfolio, to publish a
fund means to take an existing portfolio and have it appear on the
list of investable funds. With this, any portfolio then can have the
published fund within its own position. External data feeds are not
required to maintain the published fund in the system.
Does Webfolio handle fee
Our share management module has the
structure for handling fee retrocessions. The calculation support is
being added at this time. For funds in current positions, any fee
retrocession is handled through quotation changes or separate
Does Webfolio handle
For redemptions or subscriptions
that require an equalization factor, Webfolio splits the
operation into two parts, the main one for the trade, and a
secondary adjustment portion for the equalization adjustment. The
values provided by the administrator of the target fund are used as
input into Webfolio. Any equalization amount outstanding for
a portfolio is reported outside of the position valuation but
included in the overall portfolio valuation until the equalization
What are the sorts of fees that Webfolio
Fees charged by your firm to the
portfolios are handled manually or through a fees contract in Webfolio.
Multiple types of fees can be input manually: management fees;
out-of-pocket fees; director fees; custodial fees; transaction fees;
valuation fees; incentive fees; trustee fees; expenses; taxes on
fees and more. The list is constantly growing. Fees controlled
through a fees contract is a slightly smaller list, but calculation
intensive fees like hurdle and high water mark fees are certainly
What automated data inputs can
be used with Webfolio?
Quotation data feeds, fund and
portfolio information, evaluations, proxies are included in the
types of data that can be imported into Webfolio.
We have three sites. How is data
synchronized between them?
If all three sites are using the
same database, there is no need for further synchronization. If each
has their own database, the quotation database and other feeds can
be synchronized by comparing the data in each one through the Webfolio
Is it possible to have an
“attribution report” showing all underlying investments?
Return on investment is broken out
by contribution from each underlying participant, a position and/or
an FX Forward. This is reported on an evaluation summary and is
available in a separate report.
What performance measures does Webfolio
Webfolio has all the
analytics and statistics currently used for risk and performance
measurement and evaluation: Sharpe ratio, Sortino ratio, omega,
Standard deviation, R and R2 are just among the many.
How can I see what we are
invested in and what our clients have invested? Does Webfolio
manage customer holdings?
Separate portfolios are created to
represent in-house funds and managed client funds. With this full
control and visibility is available for each portfolio.
Does Webfolio calculate
Webfolio calculates the
settlement amounts based on the given amounts from a fund
administrator (or equivalent). There is no ability to predetermine
what an equalization amount should be just from the facts of the
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