The purpose of the Benchmark Comparison Report is to break down the securities within a portfolio by asset class and compare their performance with the assigned asset class benchmark.
The report displays the Morningstar Category index as the asset class benchmark by default, but you can assign a different benchmark for the asset class within the Definition Master. To assign asset class benchmarks:
From the top menu select Tools and then Edit Definition Master.
In the left navigation panel go to Customized Data and then click on Asset Classes.
Double click on a row to open an asset class in a new window, or locate the Reporting Benchmark column within the grid.
In the Reporting Benchmark field, click the magnifying glass and use the Select Benchmark dialog to search for the desired benchmark. Once selected, click OK to return to the asset class window.
Click OK to return to the Definition Master. Click Save (from the menu above the grid) before exiting the Definition Master.
The overall portfolio performance is compared to the account/client/or group benchmark depending on which location you run the report from. You can assign a different benchmark from the corresponding Settings location within the account/client/or group.
To access this report, open a transactional account and from the top menu, click on Reports, Performance, Performance, and then Benchmark Comparison. Keep in mind that this report will always be run using Time Weighted Return (TWR) and will be gross of fees. These parameters cannot be changed. This is because benchmark information is only reported in this way, and so any other option would not be comparable.
Note: This report can also be generated from the client level as an aggregated or segregated report for all accounts within the client. Additional options are available when generated from the client level.
Click the drop-down menu and select Yes or No to include a Cover Page.
Set the As of Date for the report. The date can be typed into the field or use the drop-down calendar to select a date.
Select the Primary Benchmark from the dropdown. This field defaults to the benchmark set at the account level under Profile/Settings, Account Settings, Primary Benchmark option. You can assign a different benchmark by clicking the dropdown menu and choosing Select Benchmark.
The Group by option determines how securities will be reported. Click the dropdown menu to select whether to group by Asset Class, Broad Asset Class, or Super Asset Class and Security Type. Selecting the Broad Asset Class first groups by the selected class and then groups again by asset class. The other options group according to their name.
The Group by Equity Sector or Category Asset Class option works in conjunction with the Group by Super Asset Class and Security Type option, and can only be selected when the prior is also selected. Choose this option to also show equity sectors and/or category asset classes.
Select Display Since Inception Return to add an additional column showing the return since the inception date. The report will utilize the Use First Transaction Date or a Performance Start Date selection made within the Account Profile. To access this setting, open an account and then go to Profile/Settings menu on the left. Click on the Account Profile page and scroll down to the Performance Start Date option. From here, you can enter a specific date or check the Use First Transaction Date option. Please note that if the Use First Transaction Date option is selected, you cannot type in the field or use the calendar to select a date until you uncheck the option.
Select Mask Account Number to limit the amount of an account number that is displayed on the report. This inserts a level of security when reports are e-mailed to clients or uploaded to the Web via the Client Web Portal. Click here to see how the masked account number will be represented (based on the number of characters in the account number).
Select Display without Securities to see a breakdown of the portfolio without detailing the securities within each asset class.
Select Display without Benchmark to see a breakdown of the portfolio without the benchmark details.
If you choose to include a Cover Page, you can also use the option to Add disclosure to cover page. Click here for more information.
When selected along with using a cover page, the Add blank 2nd page option inserts a blank page between the cover page and first page of the report.
When the Report Accounts Aggregated option is selected, the program combines all the client's accounts and treats them as one account. If the Report Accounts Segregated option is selected, all of the client's accounts are displayed individually within one PDF. The options can both be selected and will generate two separate reports.
Click here for a report sample.
The information below describes each column of the report.
Account Name - This heading changes based on the selected account type. It will be the account name if the report is for a single account, "account aggregates for 'client name'" if the report is for account aggregates, or "client aggregates for 'client name'" if the report is for client aggregates.
Percent Asset: The assets of all the holdings/grouping level as a percentage of total assets in the account.
Name - The asset class and security name for all holdings in the account.
Symbol - The tickers for each holding, if they are available.
Ending Value: The total market value of each holding in the account as of the report end date. Calculations vary based on the type of investment. Click here for calculations.
1 Mo (%) - The return calculated for 1 month up through the As of date of the report.
3 Mo (%) - The return calculated for 3 months up through the As of date of the report.
YTD (%) - The return calculated since the first day of the year up through the As of date of the report.
1 Yr (%) - The return calculated for 1 year up through the As of date of the report.
3 Yr (%) - The return calculated for 3 years up through the As of date of the report.
5 Yr (%) - The return calculated for 5 years up through the As of date of the report.
Notes:
If a security was not held long enough to populate one of the time period returns the field will contain a dash (-).
If the Show Liquidated Holdings option is turned on, all previously held securities will be listed with an Ending Value of 0.00. Return information will be detailed for the time periods the security was held for. This setting is located under Home, Settings, Preferences under the Portfolio Accounting System Settings.
If a security is excluded from the performance calculation the field will display as 0.00. The ending market value will still be included because the security is only excluded from performance. This setting can be accessed from the Holding Summary of the account. Check off the security and go to Action, then Holding Settings.
If a security is set as an Unmanaged Asset this will have no effect on the report. Click here 
for more information on which reports are affected by Unmanaged Assets. This setting can be accessed from the Holding Summary of the account. Check off the security and go to Action, then Holding Settings.
For each return calculation the report looks back to the appropriate date of the previous month or year. For example, the 1 Mo return for the end date of 8/15/15 would have a begin date of 7/16/15.