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Morningstar Portfolio Manager

CharlesCharles
edited April 2013 in Off-Topic
I use this tool, basic version comes free when you register. Lately, I've been noticing it lags other reporting services (like Yahoo, Google, Schwab) on price updates to the funds I track. So, I sent a couple notes complaining, hopes of better understanding why. Just received their explanation:
To ensure the greatest pricing accuracy, Morningstar receives its data from the fund companies directly. Here is the breakdown of this data flow:

Highlights:

- 5:15 PM - Nasdaq 92% coverage, direct providers 10% coverage

- 6:30 PM - Nasdaq has reached 100% (final session spin, total is currently around 21,500 NAVs)

- 6:45 PM - direct files coverage crosses 75%

- 8:15 PM - direct files coverage crosses 85%

- 9:15 PM - direct files coverage crosses 90%

- By midnight we catch up to 99%
I believe these times are eastern.

Comments

  • MaxBialystockMaxBialystock
    Ya, I have used this tool since '03, I suppose. Lately they are very late getting stuff updated every day. The explanation you received doesn't surprise me, seemingly perfectly logical, right? Please just be patient and you can be sure than when it posts, your portfolio's up and down movements from day to day will be the most accurate you can find. ....Let's just overlook the obvious, and hope you, the registered user, does not notice: put an additional employee or two or eight on this stuff, and it might get done in a much more prompt and timely way........ You and I both have noticed the change, the discrepancy between the way things WERE and the way they are NOW. The response they sent you is auto-generated and "canned." As ALWAYS (and not just re: Morningstar,) the response offered is a side-step, not a direct response to your question. That's always the way. You don't DESERVE a STRAIGHT, DIRECT, ACTUAL reply. What you deserve is a pre-packaged bunch of junk. I sent my own message to them, yesterday or the day before. There is no change, no improvement.
  • InvestorInvestor
    Reply to @MaxBialystock: they have updated portfolio manager recently and things got worse. Now portfolio allocator tool does not work. But it is not a matter of people power. Most likely this is automated system. Something is wrong with their database syncs.

    However, it is entirely possible that recently mutual fund companies are slow to update their NAV but today it was all delayed telling me this is not isolated to a few mutual fund companies. It is overall database sync that is delayed too long.
  • MaxBialystockMaxBialystock
    That makes sense. Alright. But you see... They wouldn't dare actually just spell it out and be plain about it, now, WOULD they. ?????
  • CharlesCharles
    edited April 2013
    The thing I can't reconcile is that Yahoo, Google, and Schwab show no such delay. They post fund NAVs hours before M*. Nor do I remember a case of them correcting a NAV because it was inaccurate or premature. M*, which I've always viewed as the premier fund info authority, is getting beat at their own game. Hope more folks complain and that M* finds a way to address issue and be more responsive. Waiting to review the day's performance until after midnight is reading yesterday's news.
  • MaxBialystockMaxBialystock
    Quite right, Charles. I started a thread at M* a while ago and called it: "stale." There was ONE other fellow, presumably a paying customer--- a "premium" member, who picked up on it and complained, too. Someone from M* finally discovered the item and responded, asking about the obvious, but I wasn't going to "feed the Machine," myself. So I didn't respond. That other member did get a bit detailed, and threatened not to sign-up again. The M* fool then replied with a screenshot, claiming that whatever problem there was, just wasn't there anymore...

    ...To which the premium member replied: "That's because the thing (finally) got updated after 3 or 4 days, moments before you looked."

    I see that M* was much more quick to post stuff TONIGHT. Let's see if they continue to be as prompt, going forward.
  • MaxBialystockMaxBialystock
    edited April 2013
    Well, ahem. The day-to-day change, whether up or down, in my M* portfolio was much more quickly posted today, but when I click on a particular mutual fund, yesterday's performance numbers still apear: YTD, 1 year, 3, 5 and 10. You guys know the drill on that stuff, and just where to find it, too. SO: this situation is only marginally better than it was. And already, it's 10:37 at night.

  • CharlesCharles
    Ditto Max. M* once again lagged NAV updates on many of the funds I track by hours versus all other free services, like Yahoo Finance. I just don't get it. If the lag continues, I will likely cancel my subscription.
  • MaxBialystockMaxBialystock
    edited April 2013
    I would not blame you! I wish I could find another similar website that packages the portfolio as conveniently as M*. I can look at the others right now to grab the day's end share price, but putting it all together within a single frame as a portfolio has been less wonderful at other places. Just too much work. Or the webpage doesn't yet even recognize the young fund I put money into, like it did not exist. Or several other sorts of glitches. (I do not bother with a "Transaction" portfolio. Too much trouble.)
  • MaxBialystockMaxBialystock
    -----Yes, it's 6:00 a.m. the NEXT morning, on 05 April, and only SOME of the funds in my portfolio have been updated with 04/04/2013 performance statistics. It certainly does stink. If I were among those PAYING for M* services, I'd be LIVID.
  • Old_Skeet
    Hello,

    I use the portfolio feature found at Bloomberg to track my mutual fund holdings and it too is experiencing a slowness in the timely reporting of nav updates and fund distributions.
    However, usually by 7:30 PM EDT everyting seems to be current with market closing values.

    For those intersted the portfolio tracker can be found under the Personal Finance tab under a drop down menu that will appear as "watch list portfolio tracker." I have provided a link.

    http://www.bloomberg.com/personal-finance/

    Skeeter
  • MarkMark
    Remember the days of yore when you had to wait until the next mornings paper came to check what your fund had done the day before? Just saying. And really, you can't do anything with your funds until the close of business the next day anyhow. Much ado about stuff you can't do much about.
  • CharlesCharles
    edited April 2013
    Reply to @Mark: I know, it's true...you're right of course. I remember when you either needed to call your broker to get a quote or wait for the morning paper. Have just grown accustomed to quick info flow, and I do like to glance over a fund's daily performance in relation to the overall market. So, I remain frustrated when the service we trust and even pay to deliver such info lags other venues. Please ignore us while we twaddle.
  • MaxBialystockMaxBialystock
    Reply to @Skeeter: Appreciate the link. I'll check it out...;)
  • CharlesCharles
    Reply to @Skeeter: Hi Skeeter. Will it update dividends automatically?
  • CharlesCharles
    edited April 2013
    OK, it's after 8pm eastern and two funds continue to show yesterday's prices: MAINX and RNSIX.

    I did follow-up M*'s reply expressing disappointment in their lagging response compared to other free providers. Here is their response:
    Thank you for writing. We are sorry to hear that you are disappointed in the timeliness of the portfolio updates on Morningstar.com. Our developers are looking into this delay issue and we thank you for your patience in this.
    Hey, did they acknowledge the issue? Maybe there is hope?

    I did check-out the USAToday portfolio manager that David reviewed recently. I liked that it quickly transferred in my portfolio from Schwab. Then it colorfully told me that FAIRX and FOCIX were losers:
    UNDERPERFORMING INVESTMENT
    4 out of 5 Multi-Cap Value funds performed better than your fund, FAIRX.

    LACK-LUSTER INVESTMENT
    Swapping FOCIX out could net you a total of $XXX more in savings and earnings.
    Which I can live with, I suppose, as I know it's been love it or hate it with Fairholme since 2011. But then the site did not seem to recognize ARLSX, ARIVX, AQRIX, RNSIX, MAINX.

    I also tried Bloomberg Watch List based on Skeeter's recommendation. I enjoyed it, but appears to be strictly a good Watch List and will not compute dividends, re-invest them, etc like the M* Portfolio Manager.

    So, I tried FT.com. It does compute reinvested dividends, but only back three years. And, is more UK based than US, so is constantly using pounds instead of dollars, not recognizing US fund symbols, etc.

    I tried SmartMoney.com, but it has no auto dividend update feature either. Neither does Google Finance, though they say that feature is inbound cause a lot of folks are asking for it. (Watch out M*.)

    Schwab does allow external portfolio, but again, limited to manual dividend input, as far as I can figure out so far anyway.

    Good grief, are there no better alternatives to M*? I may be stuck with them...like fly paper!
  • MaxBialystockMaxBialystock
    No such thing as true "customer service" and a real fix regarding the problem you are telling them about. They already know about it, and are blowing smoke at you when you complain. Not just Morningstar. Customer "Service?" Get outa Dodge. You think we care what you think? Why do you think we hire people who ALMOST speak English and are glad to get the .20 cents per hour we give them, and can't do anything about the issue you're calling about, anyhow. You think we'd do things this way if we actually took seriously our responsibility to you?
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