General - Webfolio functionality - Integration  - Portfolio management - Contacts - Security - Reports

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:

• Account-type constraint example: “Current (cash) account must be >=5% of the portfolio.”

• Free constraint: “Call accounting before entering any transactions on this account.”

• Universe-type constraint: “Total weight universe investment must be >=10% in x sector.”

• Contact-type constraint: “Number of advisors must be >= to three.”

• Liquidity constraint: “70% of the portfolio must be liquid in <=60 days using Liquidity Rule 4”

• Statistical constraint: “Leverage must be <=20%”

How does Webfolio calculate liquidity?
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?
Webfolio supports 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 calculated.

What asset classes does Webfolio support?
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 and status.

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 retrocession?
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 operations.

Does Webfolio handle equalization factors?
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 date.

What are the sorts of fees that Webfolio can accommodate?
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 supported.

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 Synchro function.

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 use?
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 equalization?
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 trade.

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