The Category/Benchmark Override Report provides users the capability to produce a report section where fund analysis, rank, comparisons, etc. are based on a reclassified category and/or benchmark for a fund(s). The new functionality is accessed on the Fund Lineup page and will grant advisors the ability to override either a fund’s currently assigned Morningstar Category and/or Benchmark to one that they feel more appropriately reflects that particular fund.
Please note: This function is not universally available across all Morningstar Categories. It is limited to select categories that are managed through a FirmPlus administrative function and review process. For questions related to eligible categories or to request additional categories, please email the SH-FirmPlus inbox.
In This Article
Configure Category/Benchmark Override for Report
1. Select a Plan from Plan Management You will be taken to the Fund Lineup page.
2. To access the Category and Benchmark Display and Overrides modal, click on the icon (previously the Secondary Benchmark Display icon) to the far right of the fund row.
3. Upon clicking the icon, the Category and Benchmark Display and Overrides modal will pop-up, which (if available for that fund’s particular asset category) will allow the user to:
a. Select an Override Category
Note: Upon selecting an Override Category the Benchmark for Selected Category will refresh and display the primary benchmark for the selected category.
b. Select a Secondary Display Benchmark (existing functionality)
c. Select checkbox to include Selected Benchmark as an Override Benchmark.
i. If this box is selected, the metrics in the override report will be calculated against the Selected Benchmark
ii. If this box is not selected, the metrics in the override report will be calculated against the primary benchmark for the category, and this Selected Benchmark will simply display as a secondary benchmark
4. Once selections have been made via the dropdowns, users can click the Save button to save their selections.
NOTE: This will not modify the fund’s Morningstar category or benchmark displayed within Fund Lineup or in the core report. These reclassifications will only be reflected in the Category/Benchmark Override report section.
a. Two alternative buttons are available on the Category and Benchmark Display and Overrides modal:
- Cancel: Closes modal without saving any selections
- Clear Overrides: Clears all previous selections and resets modal
5. Within Fund Lineup users will be able to easily reference when an override has been applied to a fund:
a. If either an Override Category and/or Override Benchmark selection has been applied the icon will appear green with an OVERRIDE indicator
b. If a Secondary Benchmark Display only has been applied, the icon will appear green
c. If neither an Override nor a Secondary Display Benchmark has been applied, the icon will remain dark gray
User Configuration Scenarios and Report Output
User Configuration Scenarios:
Report Output:
How to Configure Report Sections
When arriving on the Report Generation screen, there are two Report Section Lists displayed. The list on the left are Available Report Sections that can be included in your report. The list on the right are Chosen Report Sections that have been selected to appear in the report you generate.
You can move the Category/Benchmark Override report section into your Investment Monitoring Report by selecting the menu item labeled Category/Benchmark Override (Advanced Analytics) and clicking right pointing arrow between the two Report Section lists. The included report sections and their order in the Chosen list determines what will be included in a generated report.
How to Access Reports in the Report Archive
The Report Archive is where you can download generated reports and review the status of reports that have been requested. The new Share Class Analysis report section will be included in your Investment Monitoring Report.
Click here for help with accessing the Report Archive.