Portfolio Composition Files

Under this page, you find the official portfolio composition files. These files are only provided to those where Vinter calculates portfolio composition files.

Vinter calculates official closing values for its NAV, PCF, and EOD files. Currently, this time is 16:00 London time. At this time all values are calculated and published on the portal. These files are automatically sent to all users in the organization account. If a user updates a field after the official publication time it is the latest official value that is updated.

This file contains 4 sheets in the following order:

• Portfolio Composition File

• Net Asset Value

• Portfolio Composition

• Documentation

On each page, you can find information about the portfolio composition, net asset values, and documentation.

Every time you receive the PCF file, all the fields in the file are recalculated using the official end-of-day reference values.

Portfolio Composition File

The format of the PCF file is as follows

The file contains the following variables

Variable	Description	Note / Equation
PCF: Date	The business date that follows the calculation date of the portfolio composition file.
Calculation Time CET	The calculation time of the portfolio composition file is expressed in date, hour, minute, and second.
Asset Manager	The name of the asset manager.
Outstanding Shares	The number of outstanding shares of the product.	Can be modified by clients at any point in time
Portfolio Currency	The currency symbol (CCY) that denominates the portfolio. For example, CHF.	Can be set by clients when creating the PCF
FX Rate USD<CCY>	Foreign Exchange Rate	Calculated using a similar methodology to the one used to price constituents
FX Rate <CCY>USD	Foreign Exchange Rate between the united states dollar and the portfolio currency.	Calculated using a similar methodology to the one used to price constituents
Portfolio Value <CCY>	The sum of the total value of each underlying in USD multiplied by the portfolio’s currency foreign exchange rate.	Sum of [amount * spot price at 1630 UTC] over all constituents
Annual Management Fee Rate (%)	The annual management fee rate of the product.	Can be set by clients when creating the PCF
Annual Operations Fee (<CCY>)	The annual operations fee of the product	Can be set by clients when creating the PCF
Total Operations Fee (<CCY>)	The total operations fee that has not yet been paid	(Yesterday's Total Operations Fee) + Annual Operations Fee / 365
Daily Management Fee (<CCY>)	The management fee for the current date	Portfolio Value * Annual Management Fee Rate / 365
Total Management Fee (<CCY>)	The total management fee that has not yet been paid	(Yesterday's Total Management Fee) + Daily Management Fee
Reference Portfolio Value	The portfolio's value minus the management fee	Portfolio Value - Total Management Fee
Strategy Value	The Reference Portfolio Value per share	Reference Portfolio Value / outstanding_shares
Performance Fee Observation Date	The Date when the Asset Manager evaluates if the High-Water Mark should be adjusted	Can be modified by clients at any point in time
High-Water Mark (<CCY>)	Today’s High-Water Mark equals the maximum of yesterday’s High-Water Mark and today’s strategy value if the PCF date equals the Performance Fee Observation Date, otherwise, it equals yesterday’s High-Water-Mark.	Can be modified by clients at any point in time
Performance Fee Rate (%)	The Performance Fee is expressed in percentage.	Can be modified by clients at any point in time
Performance Fee (<CCY>)	If the Strategy Value is smaller than the High-Water Mark, the Performance Fee is set to 0. Otherwise, it is set to the Performance Fee Rate multiplied by (the Strategy Value - High-Water Mark)	max(0, Strategy Value - High-Water Mark) * Performance Fee Rate
Total Performance Fee	Performance fee multiplied by the number of outstanding shares	Performance Fee * Outstanding Shares
Total Fee (<CCY>)	The sum of Operations, Management and Performance fees	Total Performance Fee + Total Management Fee + Total Operations Fee
Net Asset Value (<CCY>)	The Strategy Value minus the performance fee	Strategy Value - Performance Fee
Total Net Asset Value (<CCY>)	The total value of the assets in the PCF minus all fees	Portfolio Value - Total Fee
Total Net Asset Value (USD)	The total value of the assets in the PCF minus all fees, in USD	Total Net Asset Value * Fx Rate USD<CCY>

Additionally, the following variables describe each of the PCF constituent:

Variable	Description	Note / Equation
Underlying	The name of the underlying asset	Can be added/deleted by clients at any point in time
Ticker	The ticker of the underlying asset	Can be added/deleted by clients at any point in time
Amount	The amount of the asset	Can be modified by clients at any point in time
Price USD	The asset’s price in USD	Spot price at 16:30 UTC
Total USD	The Total value of the underlying in USD	amount * price
Current Weight	The current weight of the asset in the portfolio	Total USD / Portfolio Value