Fund Manager is powerful portfolio management software. Fund Manager is available in Personal, Professional, or Advisor versions for the individual investor, professional trader, or investment advisor. Compare these products to find the Fund Manager program that's right for you.
- Track stocks, funds, options, indices, etc
- Powerful graphing
- Extensive reports
- Capital gain calculations
- FIFO, AVG, or Specific Lot
- Wash sale support
- Export to tax software
- Yield calculations (GIPS/AIMR compliant)
- Technical analysis
- Retrieve prices from the internet
- Retrieve transactions from broker/fund
- Trailing stop loss alerts
- Import from Quicken, Money, or text
- Bond calculations/income schedule
- Multi-currency support
- Broker/dealer interfaces
- Client management, fee calculations
- More portfolio management features
A GREAT program - produces better financial picture than my Merrill Lynch broker can develop."
"I just wanted to take a moment to thank you for the absolutely excellent software that comprises the Fund Manager. Using this program has made tracking my portfolio so much simpler. I'm just an average person trying to invest wisely, and your program helps to make this easier to do."
The Clarion Growth+ Funds incorporate our best growth ideas, selecting collective investment schemes that have an emphasis on high returns, typically in equities. They are therefore more subject to market movement and investors should have an expectation that the unit price will be volatile. The return expectation is also higher than the other Clarion funds, with a net performance target in excess of 5% over the three-month deposit rate.
The main principle of the Growth+ Funds is to grow your investment whilst avoiding the ‘boom and bust’ of stock markets. This is achieved by mixing different asset classes, such as stocks, bonds, property and hedge funds, that perform in different, and usually staggered cycles. Selecting from a very broad range of underlying managers, operating in quite different fields, avoids the concentration risk’ of having too much exposure to any one company, country or management method.
The Clarion Growth+ Funds incorporate our best growth ideas, selecting collective investment schemes that have an emphasis on high returns, typically in equities. They are therefore more subject to market movement and investors should have an expectation that the unit price will be volatile. The return expectation is also higher than the other Clarion funds, with a net performance target in excess of 5% over the three-month deposit rate.
The main principle of the Growth+ Funds is to grow your investment whilst avoiding the ‘boom and bust’ of stock markets. This is achieved by mixing different asset classes, such as stocks, bonds, property and hedge funds, that perform in different, and usually staggered cycles. Selecting from a very broad range of underlying managers, operating in quite different fields, avoids the concentration risk’ of having too much exposure to any one company, country or management method. We value original thinking, due diligence and first-hand research. With 1,838 staff in 23 countries, our mission is to deliver superior asset performance and exemplary client service, through consistent active management processes across diverse asset classes.
Higher tax for you, higher profits for your fund manager
Imagine for a moment you’re a funds manager. You work for a large firm running a fund which is paid a base management fee, say 1 per cent of funds under management, plus an “outperformance fee”, which is paid if you deliver returns better than a set benchmark.
Your job seems simple enough. Apart from the fact that you don’t suffer proportionally when the fund falls, there’s a broad “alignment of interests” between you and your investors.
So you pick stocks and allocate the portfolio to achieve the highest possible returns. Everyone’s happy.
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Except one day you’re faced with a dilemma. Do you maximise your fund’s reported performance (and hence your employer’s fees) or maximise the actual after-tax returns many of your investors will receive?
Funds managers tend not to talk openly about this issue, which is why I’m going to use the example of a business I’m associated with, run by someone who is frank about these conflicts, to illustrate the problem.
But every funds manager, whether they admit it or not, faces this dilemma. And the incentives suggest that the fund manager, in many cases, is likely to preference their fees (and career) over your returns.
Steve Johnson, chief investment officer of Intelligent Investor Funds Management, in Tax matters: Tell your fund manager, says that;
“Post-tax performance reporting by fund managers has been mandatory in the US since 2001 but here in Australia, it is optional, and most fund managers choose the easy option of reporting only pre-tax returns. Because what gets measured gets done, your fund manager’s focus is on pre-tax outcomes.”
Johnson currently faces a real-life example of this quandary, which nicely illustrates the nature of the problem.
Some 10 per cent of the fund he runs is invested in RHG shares, purchased at an average price of $0.58. Johnson can sell on market for about $1.00 per share, or tender into the company’s upcoming buyback and receive $0.88 in cash, comprising a fully franked dividend of $0.70, an unfranked dividend of $0.17 and a capital return of $0.01.
On a pre-tax basis, $1.00 is obviously better than $0.88 and the extra 12 cents would add in excess of 1 per cent to the fund’s pre-tax performance this year.