Every day, Morningstar Direct users across the globe leverage the Performance Reporting module to monitor their investments’ performance, create custom peer group rankings, and build out robust scorecards to perform manager due diligence. These reports can be synched with pre-created investment lists and screens, and then automated through batch scheduling. The new Morningstar Direct Cloud Editions offer the same functionality through the Peer Analytics capabilities available in the Grid View component. The following best practice shows you how to create a screen, and then use the results of this screen to generate a report to include overall performance as well as peer group ranks. Automating this report through a batch schedule is also covered.
The first step in creating a performance report is to select your investments. You have the following options:
Use a list or screen that you created in your edition of Morningstar Direct Cloud
Use a list or screen that you created in Morningstar Direct desktop - lists carry over from the desktop and display in the Lists & Screens section (in yellow below), or
Build a new list or screen.
To create a new screen, click the Create icon in the top right corner header, and select Screen. The Screener window opens. Similar to the desktop version, you are first prompted to choose your investment type. In this example, Exchange-Traded Funds and Open-End Funds have been selected.
From here you are taken to the Add Criteria screen. In the Search for Data Points field, you can begin typing the data point you wish to screen for, and the system will dynamically retrieve the data points available. Once the data point you wish to add populates, simply click on it to add it to your criteria.
After you have chosen your criteria, click Done to proceed. In this example, the screen pulls in Large Value funds domiciled in the United States and incepted before 6/1/2013. They will be open to new investors and will be institutional share classes only.
After clicking Done, the results of the screen display in the Grid View. To further build out the report, select the data points you wish to display for calculation and peer group ranking purposes. Click the Column Set menu and select Create New to begin building out the columns for the report.
In the Select Data Point field, type the name of the data point(s) you want. The available data points are dynamically retrieved. In this example, Ticker and Total Return for the YTD, 1-Year, 3-Year, and 5-Year time periods have been selected.
After clicking Done, the Grid View refreshes with the selected data. To add peer group percentile rank columns, in the top right corner, click Show Peer Analytics.
Enable Peer Group percentile ranking columns by turning on the Dynamic Ranking feature. Be sure to select Peer Group under the Rank Within field, which will then expand out the Grouping section. This allows you to select how you would like to group your funds for ranking purposes. Click Apply to view the final report with peer group rank columns included.
To save the report, first save the screen, then the column set, and finally the workbook. Click the Lists & Screens menu, then select Save. Name the screen Large Value Inst Funds. Click the Column Set menu and select Save As Column Set. Name the column set Custom Returns. Click the workbook menu, then select Save As. Name the workbook Large Value Performance and Ranks.
The workbook name changes from *Grid View to the name you entered.
To batch the saved report, click the Create icon in the top right corner and select Grid Batch.
Name the batch and select the saved workbook to be included in the batch. Click Next to proceed.
Select the batch start date, end date, run time, and frequency. Click Next to proceed.
Review your choices and click Save to schedule the batch.
For training exercises on this workflow as well as more advanced features including conditional formatting and building custom scorecards, please see this training guide put together by Morningstar’s Client Engagement Manager, Chad Lowry.