BlogSharesight Features & Tips

Managed funds live on Sharesight

by Doug Morris, CEO, Sharesight

Happy Valentine’s Day: your Sharesight login just got a lot more valuable.

One of our main value propositions is the amount of data we make available to our clients. In addition to the thousands of exchange listed investments we track globally (shares and ETFs), Sharesight clients can track down decades of historical prices, dividends, and corporate actions. And since we don’t cap the number of holdings in our paid subscription plans, the more holdings and data you use, the better the value.

Today we’re announcing a massive addition to our investment database: nearly 10,000 managed funds are now available on our app. This means you can now track daily unit prices and distributions for all sorts of Australian and New Zealand funds: corporate superannuation, wholesale trusts, pension funds, KiwiSaver funds, even industry superannuation funds.

Some legacy, offline portfolio systems will charge you extra for this data, or redirect you to one of the managed fund data suppliers to tack on this specialised functionality and data set. Not us. All this extra data is available now, ready to use.

Adding funds to your portfolio is simple – it’s the exact same process as shares. Via our Add Holding feature, select either Funds AU or Funds NZ. From here you can start typing the name of the fund or enter the APIR code. Our prompt will help you select the correct fund once you start typing (we know, there’s a lot of them and the names are similar depending on fund type!).

Managed Funds - featured

If you’re a Sharesight guru and you’ve discovered our awesome CSV upload feature for bulk importing, fear not, this also works for managed funds. Upload a CSV for managed fund opening balances or historical transactions, whichever you prefer.

If you’re like a lot of our investors, you have at least one superannuation fund out there in the investment ether. Or, maybe your clients have long held that industry fund from back in their days pulling beers at the surf club. Don’t worry, this new data set also includes historical prices and distributions stretching back to the inception date of all funds.

Once you’ve added funds to your portfolio, you can use them in the same way you’ve been using Sharesight for shares and ETFs. We’ll incorporate all on-going unit prices and distributions, allow you to edit these inputs, and of course you can view managed funds on Performance Reports, Taxable Income Reports, etc.

Managed Funds

Managed Funds

A couple of housekeeping notes

  • Naturally, all managed fund data will flow through to Xero in line with our beautifully seamless Xero integration.

  • If you’ve taken the time to manually enter and maintain managed fund positions in Sharesight, don’t worry, we’ve also built a tool that allows you to convert custom holdings to listed managed funds. Go into your manual holding, and down on the bottom of the right hand column within the Settings section click the link for “Move a listed holding” (screenshot below)

Managed Funds

  • The following new distribution tax components have been added to support managed fund distributions:
    • Capital gains (Discounted) – Discounted Capital Gain distribution. This is grossed up and included with your capital gains on the CGT report

    • Capital Gains (Non discounted) – Non discounted Capital Gain distribution. This is and included with your capital gains on the CGT report

    • Foreign Source Income – The amount of non Australian assessable income

    • Non Assessable income – The amount of non assessable income. This is used to reduce your Reduced Cost Base. It does not affect your Cost Base

  • The following enhancements have been made to the CGT Report:

    • There are new sub tables to include discounted and non-discounted capital gain distributions

    • The reduced base is calculated where applicable and used to determine any assessable CGT loss

  • It’s important to note that we receive a datafeed from the world’s largest and most trusted provider of managed funds data: Morningstar. Since funds are not listed on stock exchanges and fall under the jurisdiction of different regulatory bodies, fund companies are not required to provide detailed and timely data like a listed company. It’s possible that a fund you or your clients have invested in has not provided distribution data to Morningstar (if they don’t have it – no one else does!). If you find this to be the case, refer to the distribution statements for the payout details. Just like with shares, you can then “Edit a Payment” within Sharesight to update the portfolio.

Much more to come on managed funds, including use cases for accountants, investors, and financial advisers… sneak peak: let’s compare funds over time to find the best investment option…