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Morningstar's Portfolio Manager Price Updating Concern ...

Old_Skeet
edited November 2014 in Fund Discussions
Is anybody that uses Moringstar's Portfolio System having a concern with timely price updating of their mutual funds after market close?

It use to be that I'd have relative good price updaing by 6:30 PM EST. During the past couple of months it seems the price updating is taking longer and longer ... and, as I write this, one of my securities SGGDX has not yet updated with Friday's closing price ... and, today is Saturday, 7:50 AM EST.

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Comments

  • JohnChisum
    Is this on their website or via the app? I don't use M* but my other apps usually settle about 1.5-3 hours after the close depending on how busy a day it was. Yours seems like something might be wrong at M*.
  • Old_Skeet
    edited November 2014
    Thanks JohnChisum for your comment.

    I access it through their web site.

    I am thinking something is wrong at M*. I figure the best way to get it fixed in a timely manner is to make a post about this concern on the MFO board. Someone at M* no doubt monitors these post. Perhaps they will respond or pass it on to someone that will fix the problem. It does not appear to be a one time mater as this has been an ongoing issue for sometime now eventhough this is the first post I have made about this concern.

    Old_Skeet
  • JohnChisum
    for some reason I cannot get the link to copy here but the forums have a big thread on this subject as of late.
  • Old_Skeet
    Thanks.
  • CharlesCharles
    It's the worst. Drives me crazy. I've complained to them about it, but as usual with M* never seems to do any good.

    You're absolutely right. It's Saturday morning and M* still showing FAAFX, which is in my portfolio, at Thursday's close.
  • JohnChisum
    http://socialize.morningstar.com/NewSocialize/forums/p/342291/3582507.aspx#3582507
  • CharlesCharles
    Ha!

    Exactly.

    Yes, I'm a premium subscriber paying for sub-premium service.

    This is not one of their strong suits, but you'd think it should be.
  • TedTed
    @Old_Skeet: I always use Yahoo Finance for mutual fund quotes. It might have changed ,but closing NAV's are sent to First Data in Omaha by the fund companies and released to the public at 4:45 PM CST, however; there are occasions when NAV's aren't released till later. The problem with M* quotes is internal
    Regards,
    Ted

    SGGDX: http://finance.yahoo.com/q?s=SGGDX&ql=1
    FAAFX: http://finance.yahoo.com/q?s=FAAFX&ql=1
  • CharlesCharles
    The problem with M* quotes is internal.
    Hear, hear.
  • CharlesCharles
    I actually just installed the Yahoo Finance app on my iPhone. Liking it so far.
  • JohnChisum
    Yahoo is pretty good and most of the other apps that do the same thing get their data from Yahoo.
  • scott
    If you don't need the portfolio aspect and just want to read analyst reports and things like that, many libraries have free access to this via their website.
  • Old_Skeet
    edited November 2014
    Thanks Ted,

    I use Yahoo Finance as my back up to M* ... I do like M*'s many features found in thier portfolio manager and investment tracking analysis system. Hope they get it fixed real soon. It is a real bummer when it is not working right and operating off of dated pricing.

    Old_Skeet
  • Tampabay
    Reducing Price Checking to the Hour? remember the old ticket tape days, maybe for Mutual fund reporting? ya think... watch a movie
  • mrdarceymrdarcey
    Old_Skeet said:

    Is anybody that uses Moringstar's Portfolio System having a concern with timely price updating of their mutual funds after market close?

    It use to be that I'd have relative good price updaing by 6:30 PM EST. During the past couple of months it seems the price updating is taking longer and longer

    Not only are the tickers taking longer to update (everything used to be done by 6), the app updates far later than the website, which negates its only real usefulness.
  • Old_JoeOld_Joe
    Thanks for the question and discussion, That had been driving me nuts too, and I was wondering if my spreadsheet was flaking out. Garbage in...
  • dicksonL
    edited November 2014
    I used to see m* portfolio at around 1830cst. but then found that some tickers are updated and some are not. so of late I am checking at 2200 hrs. even then, for a couple of tickers i compare randomly with yahoo prices just to make sure they are correct in M*. One more grouse is that on the performance tab, for comparison with S&P, today S&P is seen as zero or blank. so I get the S&P fig elsewhere.
  • AndyJ
    M* has had this problem off and on for years. Plus, you can't tell in M* PM what the as-of date is.

    As alternatives, Yahoo's decent, faster and more consistent, and you can keep a simple portfolio for checking everything without a lot of hassle.

    Fidelity reports a little faster than Yahoo, but I'm not sure what you can set up there if you don't have an account.

    You can tell at both Yahoo and Fido while in portfolio mode whether a mutual fund price is same-day or not.
  • MaxBialystockMaxBialystock
    I've noticed, going back several years, that the evening post-market-closing updates at M* used to get done by 6:00. Now it's more like 7:30, and it is not uncommon to go later. And then, there may very well be one or another of my funds NOT updated with the rest of them. Stinky.
  • JohnChisum
    There are so many good apps, much better than M*. Many are free.
  • Ralph
    I've been putting up with this SLOTH with morningstar portfolio manager
    for YEARS. It's part of the reason I resigned my M* premium membership BACK
    in 2005 !!!!!!!!! -yes that many years and it never really improves. I also use FREE
    M* port. mgr @ TRP. AND It's WORSE THERE.!!!
    --I generally get fund updates from MARKETWATCH .COM which usually show current
    nav shortly after 6PM EST.
  • msf
    Don't confuse M*'s portfolio manager pricing with their quote service (e.g. Ted linked to Yahoo's quotes). I've found that while the portfolio service lags by hours (some here are saying days), M*quotes are updated much more quickly.

    As others have implied, that's small solace when you can't tell the date of the price in the portfolio.
  • rjb112
    Morningstar support: 312-424-4288
    312-696-6600 Data questions, data issues

    Oddly, they still haven't updated FAAFX for yesterday's performance
  • JohnChisum
    Maybe they will fix it if enough paying subscribers cancel their service.
  • Old_Skeet
    edited November 2014
    Hello,

    As of Sunday October 9, 2014 @ 2:45 AM EST ... SGGDX has yet to update with Friday's closing price in both the M* fund report and their portfolio manager system.

    So you can see this with your own eyes I have provided a link to the fund report. Notice it is showing pricing and performance information as of market close of Thursday 10/06/2014.

    http://quotes.morningstar.com/fund/f?t=SGGDX&region=USA

    If there was something broke at my old firm we would have wanted to know ... and, with this I plan to extend this courtesy and call them on Monday. Thanks rjb112 for providing contact numbers.

    I'll post an update about this on Monday.

    I am thinking ... This is not good. Hopefully, they will have a fix soon?
  • rjb112
    Old_Skeet said:


    ... and, with this I plan to extend this courtesy and call them on Monday. Thanks rjb112 for providing contact numbers......
    I am thinking ... This is not good. Hopefully, they will have a fix soon?

    +++++++++++++
    I've found that Morningstar can give you an email address to send the customer service rep screen shots of anything you have found on their website that is not right, and you can then discuss it with them right after sending it. Of course if it is a problem showing up at the time of the phone call, you don't need the screen shot

    Try the first number, Morningstar support.

    Morningstar support: 312-424-4288
    312-696-6600 Data questions, data issues



  • LLJB
    I'm not sure whether the timing matches or not but M* updated the look of their site in the past month or two and I felt like things went downhill after that. PM updates are incredibly slow even though when I click on individual mutual funds in my portfolio I can see they have the updated price on the fund page. I've also noticed a couple cases where fund prices don't update for more than 24 hours but I don't remember which funds they were. And, I've also found CEF and ETF quotes that are totally inaccurate, both on the fund's page and in my portfolio. In the case of HQL, the quote is the previous day's NAV rather than where its actually trading, and due to a decent sized discount its way off. I wrote to customer service about this late last week but haven't received anything back yet.
  • CharlesCharles
    edited November 2014
    Hey. it only took three days, but M* status of my 1 star fund is now current...

    image

    Although I would have thought Friday's jump should have earned it a 2nd star...
  • rjb112
    Charles said:

    Hey. it only took three days, but M* status of my 1 star fund is now current...

    Although I would have thought Friday's jump should have earned it a 2nd star...

    FAAFX is not covered by a Morningstar Analyst, so it has no Medalist rating.

    But FAIRX has a Silver Medal.......
  • Old_Skeet
    edited November 2014
    It is about 7:15 AM EST as I write.

    In checking the price of SGGDX on its fund report and in portfolio manager it has now been updated as of it's Friday closing price.

    At about 7:10 AM EST I called M* and got a recording that their office hours were from 7AM to 7PM ... I'll try again as they might be in a different time zone?

    M* could have run updates early Saturday morning and in doing this their reports would not have reflected stale pricing over the weekend.

    Old_Skeet
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