Mutual Fund Portfolio Management and Analysis

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 ## Overview
 
-Asset Management provides advisors with comprehensive tools to track, analyze, and manage client investment portfolios. This feature consolidates all client assets including mutual funds, MLDs, NCDs, and invoice discounting into a unified view with real-time performance analytics, transaction history, and detailed portfolio calculations.
+The mutual fund portfolio management feature allows financial advisors to view, analyze, and track all mutual fund investments for their clients. The system automatically calculates returns (XIRR), current values, and provides detailed transaction histories to help advisors make informed investment decisions and generate client reports.
 
-• Track all client mutual fund holdings with real-time NAV updates and balance calculations
-• Generate detailed portfolio performance metrics including XIRR, realized/unrealized gains, and dividend tracking
-• Monitor client-wise and scheme-wise asset allocation across different investment categories
-• Access comprehensive Management Information System (MIS) reports for business analysis
-• Manage specialized debt instruments like Market Linked Debentures and Non-Convertible Debentures
+Key capabilities:
+• View complete mutual fund portfolio with current values and performance metrics
+• Track investment returns using XIRR calculations across all schemes
+• Access detailed transaction history with automatic LIFO/FIFO processing
+• Monitor dividend payments and reinvestments
+• Analyze asset allocation across different fund categories and AMCs
 
 ## Prerequisites and Access
 
 **Requirements:**
-- Active IFANOW subscription with Portfolio Management module
-- Advisor access with asset management permissions
-- Clients must be onboarded with valid PAN and bank details
+- Active advisor account with portfolio management access
+- Assigned clients with mutual fund investments
+- Transaction data imported from AMCs or RTAs
 
 **Navigation Path:**
-Portfolio → Asset Management → [Select asset type]
+Portfolio → Client Assets → Mutual Funds
 
-## How to View Client Asset Portfolio
+## How-To Steps
 
-View complete asset holdings and performance for any client across all investment types.
+### How to View Client's Mutual Fund Portfolio
 
-1. Navigate to Portfolio → Asset Management
-2. Select the client from the dropdown or search by name
-3. Choose "Mutual Fund Assets" from the asset type menu
-4. Review the portfolio summary showing current value, invested amount, and returns
-5. Click on individual schemes to see detailed transaction history
-6. Use the "Export" button to download portfolio statements
+Access the complete mutual fund holdings for any client with performance analytics.
 
-The system displays real-time portfolio values with color-coded performance indicators. Green indicates positive returns, red shows losses, and gray represents flat performance.
+1. Navigate to Portfolio → Client Assets
+2. Select the client from your client list
+3. Click on "Mutual Funds" tab
+4. The system displays all schemes with current NAV, units held, and current value
+5. View calculated XIRR returns for each scheme and overall portfolio
+6. Check dividend payments received and reinvestment details
 
-## How to Generate MIS Reports
+**What happens:** The platform displays real-time portfolio values, calculates returns automatically, and shows asset allocation across different fund categories.
 
-Create comprehensive business intelligence reports showing portfolio composition and performance metrics.
+**Important:** XIRR calculations require at least 365 days of transaction history for accurate annual returns.
 
-1. Go to Reports → MIS Dashboard
-2. Select your team or individual advisor from the filter
-3. Choose the reporting period (monthly, quarterly, or custom dates)
-4. Review key metrics: Total AUM, Folio Count, Average Folio Size
-5. Analyze the "Folios Linked to Goals" percentage
-6. Export the report using the download button
+### How to Analyze Transaction History
 
-The MIS report automatically calculates portfolio statistics and shows AUM growth trends. Numbers are displayed both in figures and words for clarity.
+Review detailed transaction records for any mutual fund scheme to understand investment patterns.
 
-## How to Track Asset Allocation and Performance
+1. In the mutual fund portfolio view, click on any scheme name
+2. Select "Transaction History" from the dropdown menu
+3. Review all purchase, redemption, dividend, and switch transactions
+4. Use date filters to view specific time periods
+5. Check balance units after each transaction for accuracy
+6. Export transaction details for client reporting if needed
 
-Monitor how client investments are distributed across categories and their performance metrics.
+**What happens:** The system shows chronological transaction history with running balance calculations and identifies any merged or transferred folios.
 
-1. Open the client's portfolio view
-2. Click on "Asset Allocation" tab
-3. Review the pie chart showing category-wise distribution
-4. Check the "Top Performers" section for best and worst performing schemes
-5. Analyze XIRR (Extended Internal Rate of Return) calculations for accurate performance measurement
-6. Use filters to view allocation by AMC, category, or family members
+### How to Track Dividend Payments
 
-The system automatically calculates XIRR using transaction-level data, providing more accurate returns than simple percentage calculations. Performance is updated daily with latest NAV data.
+Monitor dividend income and reinvestment activity across the client's mutual fund portfolio.
 
-## How to Manage Market Linked Debentures (MLDs)
+1. Go to the client's mutual fund portfolio
+2. Click on "Dividend Summary" tab
+3. View total dividend received till date for each scheme
+4. Check dividend reinvestment amounts separately
+5. Review dividend frequency and payment dates
+6. Calculate dividend yield based on current holdings
 
-Set up and track Market Linked Debentures for clients seeking structured debt products.
+**What happens:** The platform separates dividend payouts from reinvestments and provides accurate dividend income calculations for tax reporting.
 
-1. Navigate to Assets → Debt Instruments → MLD
-2. Click "Add New MLD" and select from advisor-configured MLD options
-3. Enter investment amount, units, and client allocation details
-4. Specify owner and nominee information as required
-5. Upload supporting documents and bank details
-6. Save the MLD entry and track maturity progress
+### How to Generate Performance Reports
 
-MLDs require pre-configuration by the advisor before clients can invest. The system calculates maturity values based on the underlying structure and tracks performance until redemption.
+Create comprehensive performance analysis reports for client reviews.
 
-## How to Handle Non-Convertible Debentures (NCDs)
+1. Select the client's mutual fund portfolio
+2. Choose "Performance Analysis" from the reports menu
+3. Set the analysis period (monthly, quarterly, or custom dates)
+4. Select specific schemes or view entire portfolio
+5. The system calculates XIRR, absolute returns, and current values
+6. Generate PDF or Excel export for client presentation
 
-Track NCDs with complex coupon payment schedules and principal redemption structures.
-
-1. Go to Assets → Debt Instruments → NCD
-2. Select from advisor-configured NCD offerings
-3. Enter client investment details including units and investment amount
-4. Review the automated coupon payout schedule
-5. Monitor principal redemption dates and amounts
-6. Track current value based on coupon accruals and market conditions
-
-The system automatically generates amortization schedules showing all future cash flows. Interest calculations adjust for actual days and payment frequencies (monthly, quarterly, semi-annual, or annual).
+**What happens:** Professional reports are generated showing investment performance, asset allocation, and return comparisons across different time periods.
 
 ## Rules and Limits
 
-• Mutual fund transactions are processed using LIFO (Last In, First Out) method for tax calculations
-• XIRR calculations require at least one inflow and one outflow transaction
-• Asset allocation percentages across all goals for a client cannot exceed 100%
-• Balance units are automatically updated after each transaction and cannot be manually edited
-• Dividend reinvestment transactions are handled separately from regular purchases
-• MLD and NCD maturity values are calculated using compound interest formulas
-• End dates cannot be set before start dates for any debt instrument
-• Owner shareholding percentages must total 100% for each asset
-• Nominee percentages cannot exceed 100% for any single asset
-• Cash flow calculations use 365-day year convention for all interest calculations
+• XIRR calculations automatically exclude transactions older than one year unless specifically requested
+• Dividend reinvestment transactions are processed separately from regular purchases
+• Balance unit calculations use LIFO method for redemption matching
+• Schemes with zero balance units are retained in portfolio for historical tracking
+• Performance calculations exclude merged or transferred folios from current holdings
+• Maximum 100 schemes can be displayed per client portfolio view
+• Transaction processing follows exchange-defined settlement rules
+• Switch transactions are treated as simultaneous redemption and purchase
+• NAV updates occur daily based on AMC feeds
+• Realized gains are calculated using FIFO method for tax reporting
 
 ## Common Questions
 
-**Q: Why does my client's portfolio show different returns than their statement?**
-A: The platform uses XIRR calculation which accounts for timing of cash flows, providing more accurate returns than simple percentage calculations. Statement returns may use different methodologies.
+**Q: Why do my XIRR returns look different from what I calculated manually?**
+A: The system uses precise daily calculations and excludes dividend transactions for pure investment return analysis. Manual calculations often include dividends which can skew annual return figures.
 
-**Q: Can I modify transactions after they're recorded?**
-A: No, transactions cannot be edited once saved to maintain audit integrity. If corrections are needed, add reversing entries and record the correct transaction.
+**Q: Can I see performance for schemes that were redeemed completely?**
+A: Yes, the system maintains historical data for all schemes. Use the "Show All Schemes" filter to view both current holdings and fully redeemed investments.
 
-**Q: How often are NAV values updated for mutual funds?**
-A: NAV values are updated daily after market close. The system shows the latest available NAV date for transparency.
+**Q: How does the system handle scheme mergers or name changes?**
+A: Merged schemes are automatically identified and marked. The system maintains transaction history under the original scheme name while showing current NAV under the surviving scheme.
 
-**Q: What happens when an MLD or NCD matures?**
-A: The system automatically marks the instrument as matured and calculates final payout amounts. You'll need to update the client's cash position separately.
+**Q: Why don't I see recent transactions in the portfolio?**
+A: Transaction processing depends on AMC file uploads. Recent transactions may take 1-2 business days to reflect in the system after settlement.
 
-**Q: Why can't I see some clients in the asset list?**
-A: Only clients assigned to your team or directly to you appear in asset management. Check with your admin if you need access to additional clients.
+**Q: Can I track SIP investments separately from lump sum investments?**
+A: The system identifies SIP transactions automatically based on amount patterns and frequency. Use the "SIP Analysis" view to see systematic investment performance separately.
 
 ## Troubleshooting
 
-**Problem:** Portfolio shows "No Data Available" for a client
-**Cause:** Client has no recorded transactions or assets haven't been properly mapped
-**Fix:** Verify client onboarding is complete and at least one asset transaction has been recorded
+**Problem:** Portfolio shows incorrect current values
+**Cause:** NAV data may be outdated or missing for specific schemes
+**Fix:** Navigate to Settings → Data Management → NAV Updates and verify the last update date. Contact support if NAV is more than 2 business days old.
 
-**Problem:** XIRR calculation shows "N/A" or zero
-**Cause:** Insufficient transaction data - XIRR requires both inflows and outflows
-**Fix:** Ensure the client has both purchase and redemption transactions, or wait for more transaction history
+**Problem:** XIRR shows as zero or blank for some schemes
+**Cause:** Insufficient transaction history (less than 365 days) or all transactions on same date
+**Fix:** Use absolute return calculation for short-term investments. XIRR requires multiple transactions across different dates.
 
-**Problem:** Asset values don't update after adding transactions
-**Cause:** NAV data may not be available for the transaction date
-**Fix:** Check if the scheme has valid NAV data for the transaction date; system may need 24 hours for NAV updates
+**Problem:** Dividend amounts don't match AMC statements
+**Cause:** Dividend reinvestment may be calculated separately or missing dividend transactions
+**Fix:** Check "Include Reinvestments" option in dividend summary and verify all dividend transactions are uploaded.
 
-**Problem:** MLD or NCD won't save due to validation errors
-**Cause:** Required fields missing or date logic errors (end date before start date)
-**Fix:** Review all mandatory fields and ensure chronological date order; maturity must be after investment date
-
-**Problem:** Balance units don't match external statements
-**Cause:** Transaction processing differences or missing dividend reinvestment entries
-**Fix:** Review transaction history for missing entries, particularly dividend reinvestments and bonus distributions
+**Problem:** Some mutual fund schemes are missing from portfolio
+**Cause:** Folio number mismatch or PAN mapping issues between uploaded files
+**Fix:** Go to Client Settings → PAN Mapping and ensure all folios are correctly linked to the client's PAN number.
 
 ## Related Features
 
-This feature integrates with Client Management for accessing client data, Goal Planning for asset allocation tracking, and Transaction Management for recording investment activities. It also connects to Report Generation for creating client statements and performance reports. The Accounts module handles owner and nominee management for debt instruments.
+This feature integrates with:
+- **Client Management** - Requires active client relationships and proper PAN mapping
+- **Transaction Processing** - Depends on AMC file uploads and transaction categorization
+- **Goal Planning** - Links mutual fund assets to specific financial goals
+- **Tax Reporting** - Provides realized gain calculations for tax filing
+- **Risk Profiling** - Uses mutual fund categories for portfolio risk assessment
+- **SIP Management** - Tracks systematic investment plans within the mutual fund portfolio