Mutual Fund Expert New Features

  • NEW Features (See "Menu > Help > New Features" in the Steele Expert program)

    Category changes:
    - Added: Infrastructure, Emerging-Markets Local-Currency Bond, Target-Date 2060+, Option Writing, Long-Short Credit, Prime Money Market, Allocation?5% to 30% Equity, Allocation?5%+ Equity
    - Renamed: Target Date 2051+ to Target-Date 2055, Conservative Allocation to Allocation?0% to 50% Equity, Moderate Allocation to Allocation?0% to70% Equity, Aggressive Allocation to Allocation?0% to 85% Equity

    To be able to see all the new report/graph changes, you should create a new Notebook, which will automatically contain all new objects and settings, and then copy your own reports into it. (We recommend copying them to the "Customized" folder and its subfolders.) To create a new notebook, select "Menu > File > New notebook".  (When we make improvements and additions to the standard reports, graphs and settings, this is the best method to view and take advantage of them. See "Copying a Page or a Folder" in the program's help system for copying any reports you have created into a new notebook.)

    Added to the Personal, Professional, and Variable Annuity editions:
    Full Equity Style Box Breakdown, Average Bond Duration and Average Bond Quality. Also added to these editions: Equity Style Analysis report and 3 Equity Style Breakdown graphs (Detail, Market Cap, Growth/Value).

    Category changes:
    - Added the "Energy Limited Partnership" category.

    Category Ranks Analysis:
    Added Category Percentile Ranks fields along with reports and graphs for the last 20 years of Rolling Returns and for the last 10 Calendar Years. These enhance comparing and filtering based on consistency of managerial  success in relation to each fund's peers.

    Equity World Regions Exposure Breakdown:
    Added equity regional breakdown fields, reports and graphs to facilitate assessing and comparing geopolitical risk.

    New/updated reports & report reorganization:

    New fund and portfolio graphs and reports such as "Portfolio Quick View", "Category Performance Ranks", and "Allocation Analysis" have been added and organized in a new, convenient way.

    Category changes:
    - Added the "Corporate Bond", "Preferred Stock", and "Tactical Allocation" categories.

    Portfolio Extended Performance:
    Now the system computes portfolio performance since the earliest security data in the portfolio. The Hypothetical Illustration environments, such as the "Long-Term Growth" graph, now also use the same computational methodology. (The assigned weights of any securities missing data for any data point are allocated equally to the remaining securities.)

    Category changes:
    - Added the "Single Currency" and "Miscellaneous Region" categories
    - Renamed the "Currency" category to "Multicurrency"
    - Renamed the field "Broad Asset Class" to "Category Group"
    - Renamed the following Category Groups: "Balanced" to "Allocation", "U.S. Stock" to "U.S. Equity", "International Stock" to "International Equity", and "Sector Stock" to "Sector Equity"

    Keyboard shortcut added to display only tagged records:
    The Ctrl+Shift+A keystroke was added to display only tagged records in Database views. It complements Ctrl+A which displays all records. This allows rapid switching between viewing all records and only those that have been tagged with two simple keystrokes.

    Fields added:
    - Redemption Fee Maximum Period: Expressed in days, it is the period that must pass for the redemption fee to be reduced to zero (All editions and reports).
    - Asset Allocation Short-only Positions: to complement Net positions (Pro Plus edition).

    After-Tax Returns added:
    SEC tax-adjusted returns have been added to the Pro Plus edition for both Pre- and Post-Liquidation scenarios aimed at comparing, ranking and filtering fund returns in a way that includes the effect of taxation. The "After-Tax Returns Comparison Analysis" report has also been added.

    Y/N Fields added
    The following Y/N fields were added to the professional editions to facilitate filtering: Leveraged Fund, Inverse Fund, Dividend Yield Fund (for ETF's).

    Category changes:
    - Added new Sector Stock broad asset class: 14 categories were moved from U.S. Stock, International Stock, and Alternative broad asset classes into this new broad asset class
    - Added India Equity, Foreign Small/Mid Blend, Target-Date 2046-2050 categories
    - Replaced Target-Date 2050+ with Target-Date 2051+ category
    - Re-launched the Muni Single State Short category
    - Renamed Muni Short to Muni National Short

    New Rolling Returns Graphs
    The Rolling Returns graph displays 1, 3, 5, and 10-year returns for quick, yet powerful comparisons. You can select to display either Average or Total returns. There is also a Rolling Returns graph for short-term periods displaying 1, 3, 6, 9 and 12-month returns. Besides using these stand-alone graphs, you can change any graph on any built-in or customized report to the Rolling Returns types.

    Import Symbols text files
    This feature allows you to import text files with securities symbols into the system. You can now import special mutual fund groups or portfolios that you can then save as Securities Groups (which can be easily used as conditions in Filtering) or save as Portfolios.

    "Record Pools" are now referred to as "Securities Groups" system-wide.

    New Fixed-Income Sectors & Super Sectors:
    These new classifications can help investors and investment professionals easily compare and understand the sector exposures of each portfolio. The data is especially useful for comparing two investments that may be in the same category.

    Expense Ratios and 12b-1 fees are now provided with three decimal places for greater accuracy when comparing fund costs.

    Added comprehensive "Risk-Return Comparison Analysis" landscape report (Pro Plus): It allows the easy comparison of risk and return of multiple funds and benchmarks at the same time.

    Graph Options: Easily change the automatic benchmark for Performance, Growth and Risk/Return graphs

    Risk/Return Graphs: 1) Now the user can graph any risk measure in the database: Standard Deviation, Downside Deviation, Upside Deviation, Semi-standard Deviation, Loss Deviation, Volatility, Beta. 2) The user can also select any rolling time period: 1, 3, 5, 10, 15, or 20-years. 3) Beta Risk/Return graphs and improved reports have been added.

    Personal edition: Annualized Standard Deviation and monthly data for graphs for the last 10 years have been added.

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    New: Post-Modern Portfolio Theory statistics columns for 1, 3, 5, 10, 15, and 20 years, and "Risk Analysis" report added to the Pro Plus edition. They include Sortino Ratio, Information Ratio, Upside/Downside Capture Ratios, Tracking Error, Batting Average, Relative Risk, Percent Of Positive Months, Downside Deviation, Upside Deviation, Semi-standard Deviation, Loss Deviation, Skewness, Kurtosis. Read in "Menu > Help > User's Guide > Data Definitions > Risk and Statistics > Modern & Post-Modern Portfolio Theory" about how to utilize these statistics to construct safer, more profitable portfolios.

    New: Equity Style Complete Breakdown columns, graphs, and "Equity Style Analysis" report added to the Pro Plus edition.

    Category changes: Replaced Long/Short with Long/Short Equity. Added: Managed Futures, Multialternative, Volatility, Trading-Leveraged Commodities, Trading-Inverse Commodities, Trading-Leveraged Debt, Trading-Inverse Debt, Trading-Leveraged Equity, Trading-Inverse Equity, Trading-Miscellaneous. For their definitions see "Menu > Help > User's Guide > Data Definitions > Investment Category".

    New Equity & Fixed-Income Sectors & Super Sectors:
    The new sector structure allows more intelligent sector analysis and diversification when constructing portfolios. The Personal edition includes the new Top 10 Sectors, while the Professional and Pro Plus editions now also include the complete equity and fixed-income sector and super sector breakdowns, allowing those to be automatically calculated by user-created portfolios. All new fields are available for all operations including ranking, filtering, graphing, exporting, etc. See "Equity Sectors" and "Fixed-Income Sectors".

    Top 10 Countries breakdown and graph is now included for all funds in the professional editions as well.

    New reports & graphs: The Fund Allocation Analysis & Portfolio Allocation Analysis reports have been added and several other reports have been updated. Graphs for Equity & Fixed-Income Sectors and Super Sectors have been added. The graphing options have also been upgraded.

    Automatic Updating of installed program and database files: Now, if there is an update to the software or data after the initial publication of an issue, Steele Expert will notify you and will download, install and restart the program. This way you are ensured to have the latest version of the Steele software and data that is installed on your computer.

    Added new fields to the Professional & Pro Plus editions:

    Oldest Share Class (Y/N): It identifies whether this is the oldest share class for a mutual fund. This allows users to evaluate a series of multi-class funds by looking at one representative share class for each unique portfolio. You can add this condition to your filter to ensure that it only contains unique mutual fund portfolios. If several classes of the same fund were started at the same time, only one of them is designated as the oldest share class.

    Oldest Share Class Security ID: The Security ID of the oldest share class for each mutual fund. This allows users to evaluate a series of multi-class funds by identifying all the share classes that are represented by the same unique portfolio.

    Investment Category changes: Added Aggressive Allocation, China Region and Market Neutral categories. Removed Muni Single State Short category. You should review any filters that contain categories as they may be affected by these changes.

    The user interface has been revamped.

    The "Quick Filter" feature has been added as a toolbar button (lightning bolt) and to the Filters drop-down list. It allows you to click first on any cell value in the database (spreadsheet) display, and then click on the "Quick Filter" button to instantly filter the database by that value.

    Now you can rapidly select many columns to display or hide on the "Database Options" dialog box by using the Spacebar key.

    Morningstar Market Indexes were added to provide better performance benchmarking.

    Upgraded Growth Graph Options for Hypothetical Illustrations:
    1) They can now use an additional user-supplied annual rate of return applied to the investment each interval (yearly, quarterly, monthly). This rate can represent additional investing based not on a fixed amount, but an amount based on a rate such as the rate of inflation. It can also be negative to represent management fees of an advisor or the erosion of a forecast inflation rate. The annual rate will be converted to quarterly or monthly based on the selected interval.

    2) Growth graphs can now be displayed on a Relative basis against any other benchmark, fund or portfolio in the database.

    To see the Graph Options dialog box, simply double-click on a stand-alone graph. (If a graph is placed on a report, enter "Design Mode" first so you can modify the objects on the report, including report graphs).

  • Create and e-mail PDF files of Steele Expert reports and graphs: Click here.
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