New Features for FIFO portfolios, cash classification, fee end dates, and customisable columns

We are excited to introduce a range of enhancements and new features designed to significantly improve your overall wealth management experience with Sharpfin Wealth Management Suite.

Number of improvement highlights:4

Sharpfin Wealth Management Suite now features enhanced functionality, such as the ability to set start dates on FIFO portfolios for accurate performance tracking, classify various instruments as cash, introduce fee end dates to manage multiple fee structures seamlessly, and customise column displays on all list tables.

Improvement highlights:

1. Start date on FIFO portfolios

When calculating first-in-first-out performance on single holdings, which is common in Norway and Finland, you often load the buy transaction prior to the date when our customers started using Sharpfin.

This causes the performance to be correct at the instrument level but incorrect at the portfolio level prior to the start date of the customer relationship. To mitigate this, we have added the possibility to set a start date on FIFO portfolios.

Affected modules: Dashboard and Reporting

2. Generic cash classification

Previously, the cash classification node was exclusively reserved for cash holdings. It is now possible to add other instrument types to the cash node, such as loans.

Affected modules: Wealth Management, Reporting

3. Fee end date introduced

To ease the change of a management fee in Sharpfin during a reporting period, we have introduced the possibility to set multiple fee structures of the same type on the same portfolio, under the prerequisite that the end date of one fee does not overlap with the start date of another.

For example, you can set a 0.6% management fee to end on 2024-04-30 and add another 0.5% management fee starting on 2024-05-01, and the fee manager will cater for this. 

Affected modules: Back Office

4. Possibility to change shown columns for all tables

We have introduced the possibility to change the columns on all list tables in Sharpfin, such as the portfolio list in Wealth Management, the client list in Reference Data, or the client list in Client Relations. 

Affected modules: Client Relations, Wealth Management, Reporting, Reference Data