Study Notes:
Interactive Brokers offers a full suite of robust reporting software for Fund Managers to pull statements, create custom reports, enable automatic statement delivery, and provides access to IBKR’s PortfolioAnalyst.
To access the reporting features in IBKR’s Hedge Fund Portal, open the left side menu and click the plus sign to expand the Reporting menu. The Fund Manager can access Statements, Flex Queries, Data Queries, Advisor Reports, Tax documents, and Other Reports.
Statements
The Statements page is where the Fund Manager can run default or custom reports at any time and configure automatic delivery of these reports. Use the blue Add/Edit button at the top of the page to select the account or group of accounts the report will be run for. To generate any of the Default Statements, click the blue Run arrow and select the period, date, format, and language for the report.
Custom Statements
The Fund Manager can also create custom reports which can be edited, deleted, or run at any time. Click the plus sign in the right corner of the Custom Statements panel to configure a new report.
The Fund Manager can enter a name for the report and select the sections to be included, such as Commission Details and Trades. After the sections of the report have been chosen, select any desired Section and Delivery Configurations and click Continue to review the custom report before clicking Create. The newly created report will be reflected in the Custom Statements panel.
Statement Delivery
Both Default and Custom Statements can be enabled for automatic delivery to the Fund Manager. Automatic delivery can be configured by clicking the configure gear icon in the corner of the Statements Delivery box.
If the Fund Manager would like to configure automatic statement delivery to a FTP or SFTP site, they can contact IBKR’s reporting team at SalesEngineering@interactivebrokers.com for assistance.
Flex Queries
The Flex Queries page allows the Fund Manager to configure highly customized reports that are XML, CSV, or Text formatted statement files that let the Fund Manager specify the exact data fields and the order in which the fields appear on the report.
A Flex Query is different from the Custom Statements because Fund Managers can customize a Flex Query at the field level, allowing them to include and exclude detailed field information. Customized Statements only allows the Fund Manager to include or exclude entire sections of the report instead of the individual data fields.
For example, the Fund Manager can create a custom Activity Flex Query by clicking the plus sign in the upper right corner of the Activity Flex Query panel. Enter a name for the query and select from the sections to be included, such as Open Positions.
Once a section is selected, a window will appear where the Fund Manager can select the data columns to include in the report by checking the boxes to the left. The Fund Manager can also change the order that the data fields are displayed in the report by clicking and dragging the three horizontal lines to the right. Once the sections and data columns have been selected, the Fund Manager can enter the desired delivery and general configuration settings for the report. Click Continue to review the Flex Query before clicking Create.
Similar to Custom Statements, the Flex Queries can be enabled for automatic delivery.
Creating Groups
As mentioned earlier, reports can be run for a single sub-account at a time or for a group, or household, of accounts. Fund Managers can configure their groups from the left side menu and expanding Administration & Tools and selecting the Groups tab. Existing groups can be edited by clicking the pencil icon or deleted by clicking in the blue trashcan.
Fund Managers can create a new group by clicking the “Create New Group” icon in the upper right corner, entering a name for the Group, and selecting whether it is a private group. Private groups will only be visible and editable by the user that created it, whereas public groups are visible to all users on the master fund manager account. Afterwards, the fund manager can click Add/Edit Group Members to select the client accounts to be included in the group. Once a group has been created, it can be chosen from the Account Selector when running a report.
Tax Documents
The Tax Reports page can be opened from the left side menu, expand Reporting, and select Tax Documents. Use the Add/Edit account button at the top to select the desired account to view the tax forms for. The Fund Manager can generate the tax forms for a single hedge fund account or a sub trading account, or they can select the master account to download a zip file for all the tax documents for all their sub-accounts.
Sub-accounts of fund managers can also login directly to their Client Portal to retrieve their tax forms. Clients are notified when the tax forms are ready and are typically available by the dates listed on our website.
Other Reports
Under the Reporting menu, the Other Reports section contains Risk Reports that monitor risk and forecast portfolio performance using the Margin, Value at Risk, and Stress Test reports. There are also the three Supplemental reports:
- Account Confirmation Letter is a digital letter that confirms the individual or institution has an account with Interactive Brokers.
- Tax Lot Holding Period Change report will show the tax lots changing from short-term to long-term in the selected time frame, and
- The Transaction Cost Analysis report tracks the quality of the client’s orders’ transaction prices versus market conditions either at the time the orders were submitted or after the trade executes.
PortfolioAnalyst
In addition to the reporting features reviewed thus far, Fund Managers have access to IBKR’s PortfolioAnalyst. PortfolioAnalyst is a powerful analytical tool housed within the Hedge Fund Portal that consolidates, tracks, and analyzes the account’s complete financial performance.
The PortfolioAnalyst reports can be used to compare the portfolio’s allocation and performance to over 300 benchmarks and they contain GIPS verified returns. If a standard benchmark does not provide an adequate basis for comparison, Fund Managers can also create custom benchmarks with multiple indexes or by weighting multiple ETFs. Clients can also link their external investment, checking, savings, annuity, incentive plan, and credit card accounts to understand their current financial state and plan for the future.
For more information on the PortfolioAnalyst and its reporting capabilities, please see the dedicated Traders’ Academy course on PortfolioAnalyst.
Resources
Reporting Guide & Sample Reports
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.