Funds-Axis provide a comprehensive framework for the performance of Assessment of Value. The solution is browser based and offers flexible and comprehensive analytics and reporting.

For more information on our Assessment of Value solution, please click here.

Our Assessment of Value product presentation can also be found here.

For the client User Guide, click here.

Broadly speaking, assessment of value requires consideration of a combination of factors, including the return achieved, the price paid, the risk taken and the quality and range of services provided by the asset manager.

This also needs to be considered in the context of the investment objectives and policy for the fund, the target investor and the recommended holding period. Regard also must be had to market comparisons and to the ability to take advantage of economies of scale.

For further details on Funds-Axis’ Assessment of Value approach and methodology please click here.

Developing a Comparative Universe

As part of the Assessment of Value exercise, it is necessary to be able to perform appropriate comparisons to (i) other shareclasses of the fund; (ii) other shareclasses of the manager and (iii) to the market.

For this purpose we have developed comparative universes. We have develop comparative universes based on the following criteria

(i) for risk and performance comparison – based on domicile and IA sector. Therefore, all shareclasses of the fund are in the same risk and performance comparison group

(ii) for cost comparison – based on domicile, IA sector, whether the fund is active or passive, the minimum dealing size of the shareclass.

Costs – for a more detailed guide to Costs and our approach to different Costs, click here.

Click here for a glossary of key terms, including: Alpha, Beta, R-squared, Active Share Ratio, Tracking Error.

The Funds-Axis AOV solution is powered by data from Financial Express FE FundInfo, which is then subject to some enhancement, with various normalisations, additions, classifications etc.

The data is updated on a monthly basis, on or about the 5th of every month,

There is limited scope for making amendments to the FE FundInfo data and the appropriate actin is usually to contact FE FundInfo to ask them to address any errors or omissions.

There is some scope to amend various data items directly in the Funds-Axis AOV module; for example, sector, benchmark, legacy shareclass, active/passive, fund of funds etc. Note, sector and benchmark needs corrected and updated directly by FE FundInfo in order for comparative data to v=be calculated and made available by them.

We can make available for clients a comprehensive structure and set of templates for performing the AOV Review.

When reviewing the iNED reporting in the AOV module the iNED Checklist should be completed. This checklist can be found here.

For example template reports, click here.

To see examples of the Reports being produced by other Managers, click here.

For more information on our Assessment of Value Reporting services, please click below: