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Posted by Bob L. on March 8, 2007, 1:58 pm
Please log in for more thread options * kirk wrote:
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>>>> Quicken 2006 Premier, Windows XP/SP2
>>>> I have an account holding multiple equities, managed by a money
>>>> manager that charges a quarterly management fee. I'd like to know
>>>> what the performance of this account (IRR) is net of his fees. I'd
>>>> thought this would be simple, but after searching, researching and
>>>> experimenting (with a test account), I'm dazed and confused. [I
>>>> think] I understand IRR but I can't seem to make Quicken do what I
>>>> want.
>>>> >From researching and experimenting it looks like the IRR of an account
>>>> is a function of the IRR of the underlying securities and the only
>>>> transactions that impact the account IRR are investment transactions.
>>>> If I enter the quarterly management fee as a cash transaction, there
>>>> is no impact on account IRR.
>>>> Is there a way to see the account performance (IRR) net of management
>>>> fees?
>>> Temporary subtract the annual fees from the interest, etc., received for the
>>> same time period.
>>>> TIA
>>>> /d- Hide quoted text -
>>> - Show quoted text -- Hide quoted text -
>>> - Show quoted text -
>> Thanks, That works ... for sure it reduces the IRR. But is there an
>> easier way? I'll have to do this each quarter for every quarter, then
>> undo it to get the true IRR for the security I "adjusted".
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>> /d- Hide quoted text -
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>
> Just tried an experiment. I set up a "dummy" security called
> "Management Fees", in place of Withdraw for the actual amount of the
> management fee, I entered a Buy for 0 shares of security "Management
> Fee" @ $0 with a commission equal to the actual management fee. That
> provides the same IRR as temporarily reducing the dividends from a
> security. It also doesn't show up in positions held, since there were
> 0 shares bought. Is this an OK workaround or am I likely to get
> burned on something else that I just haven't considered???
>
> /d
>
Kirk,
If you are not seeing an impact from the cash balance, then check the
securities tab of the report and be sure "No security (includes cash) is
checked. I think that should work.
Bob L.
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