There is a very powerful but often confusing feature in the reporting system called Unmanaged. This feature is often thought of as a way to mark an asset, product, or account as being excluded from reporting and though that is often the case, it is far from the whole story.

When dealing with the Unmanaged feature it’s not about “Is this asset managed or unmanaged?” but rather “Is this asset managed or unmanaged for a specific reporting category?”. Currently we support five report categories:

• Performance (1)
• Activity Summary (2)
• Allocation (4)
• Portfolio Detail (8)
• Tax Detail (16)

A specific asset, product, or account can be marked as managed in some of these categories and unmanaged in the rest. Generally speaking, unmanaged means you want to exclude it from normal reporting but in RB3 and its derivative systems you can pick any report category to report on so unmanaged doesn’t really mean it’s excluded just put into a different bucket. In RB3 and its derivative systems you have the following options for report category:

• All (0) – show everything without looking at the managed/unmanaged settings
• Managed Performance (1) – only what’s managed for Performance
• Managed Activity Summary (2) – only what’s managed for Activity Summary
• Managed Allocation (4) – only what’s managed for Allocation
• Managed Portfolio Detail (8) – only what’s managed for Portfolio Detail
• Managed Tax Detail (16) – only what’s managed for Tax Detail
• Unmanaged Performance (-1) – only what’s unmanaged for Performance
• Unmanaged Activity Summary (-2) – only what’s unmanaged for Activity Summary
• Unmanaged Allocation (-4) – only what’s unmanaged for Allocation
• Unmanaged Portfolio Detail (-8) – only what’s unmanaged for Portfolio Detail
• Unmanaged Tax Detail (-16) – only what’s unmanaged for Tax Detail

How to set the option?

There are two specific settings that determine which report categories a specific asset is managed for.

1. First we need to determine if the asset is even considered to be unmanaged. If the asset is marked as unmanaged, its product or account are marked as unmanaged then the asset in question is considered to be unmanaged.
2. When an asset is considered to be unmanaged the system will then look at the entity option Unmanaged assets inclusion to determine which report category(s) the asset is managed / unmanaged for. The value is stored in a bitwise fashion. So if the setting says include in Performance (1) and Allocation (4) the stored value would be 5. This uses standard entity option inheritance. It will first look for a value on the asset, then the product, then the account, then the database. NOTE: this order can change database to database. Which ever value it finds first is the value that will be used. The purpose of this is to partially include the unmanaged asset in some calculations but exclude it from others (ex: exclude from performance but include in activity value).

NOTE: It is possible for this setting to make an asset that is considered to be unmanaged be marked as included in all report categories which would make it effectively managed.