Current vs. Target Asset Allocation Report Frustration
Our firm utilizes the Report "Current vs. Target Asset Allocation" to help determine when portfolios are out of balance. However, one of my frustrations is that when we run this report American Funds New Perspective is included in the "Foreign" category and not the "Global" category even though its fund fact sheets identifies it as being in the "World Large Stock" category.
We have included the Asset Allocation report option as "Morningstar Security Category" - this includes the "Global" category as one of the options, but New Perspective does not end up in that category.
Someone please advise as to how we can change this - a fund of this nature obviously had significant foreign exposure, but it is truly a global fund. The fund fact sheet, for example, only shows current foreign exposure of approximately 40%.