Daily Tracking for Canadian Mutual Fund Investors
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Portfolio Tracker is a new addition to GLOBEfund's list of financial services for Canadian investors.
Portfolio Tracker is designed to track an individual's portfolio daily performance, using the Internal Rate of Return-an accurate way of measuring ROI.
Users register at the GLOBEfund site and establish a personal portfolio by recording the number of units they own of each mutual fund. They can have distributions automatically reinvested, deduct commissions, and generate various reports and graphs, the company said.
David Keith, vice president, Financial Markets for Globe Information Services in Toronto, said that investors asked for two specific capabilities.
"The second was a means of maintaining a portfolio without the hassles of having to readjust holdings information each time a fund company makes a distribution. We have accomplished that as well."
A significant benefit of using Portfolio Tracker over newspaper tables, the company said, is that investors can calculate their exact current return from the day they purchased their funds as opposed to the monthly or annual returns listed in the paper.