How do I change the name of a custom asset class?

System

This discussion was created from comments split from: Delete custom asset classes.

pacQuick

Can can I change the labels 'Custom1', 'Custom2', 'Custom3'....'Custom10' under 'Asset class' to something meaningful? I can't find a way to edit that label, only select from drop down list. HONESTLY, I actually want edit the 'Industry' but am being led to believe this is not possible (should be an available override), so if know how to do this, please DO SHARE!

Quicken_Tyka

Hello @pacQuick

Thank you for taking the time to visit the Community to post your question, although I apologize that you have been unable to find a solution so far.

To rename a custom asset class: please begin by navigating to Tools > Security List. Then Edit security to get to the Asset class menu. Then choose "Customize."


Then select the Custom asset you would like to rename and choose "Edit" you may then enter the desired name in the next dialogue box. 



Please let me know how it goes or if you have any additional questions.

-Quicken Tyka

pacQuick

Thanks, Tyka - - don't know why I didn't catch that!
How about by inquiry "...HONESTLY, I actually want edit the 'Industry' ..", is that possible?
If not, before I go do all the work to deciding what 'Asset Class'es I should make (when they should actually be Industry) and then editing 'Custom' labels, and then associating the appropriate label to EACH holding (whew!), is there a way to export the report that's within the Quicken window under 'Investing' / 'Portfolio'. This has the drop down fields of 'Show, Group by', 'As of'. There is not this exact report via the top menu 'Reports/Investing/Investment Asset Allocation' - - it has very few columns available and not providing all I need. There is much massaging going on here to get data but at minimum, need to be able to export to Excel when finally do get a report that's workable. Thanks to advise. Hopefully you come back with how to edit 'Industry' - would be the most direct resolution... ah! but still need to export! Thanks!

Jim_Harman

You can print or export a Portfolio view by setting up the view as you want it then going to File > Print or hitting Ctrl-P.

To export, select the Export option and choose the Lotus 123 PRN format. Despite its antique name, this produces a CSV file. Give the file a CSV extension and you should be able to open it directly in Excel.

q_lurker

I would recommend against trying to use Asset Class as a substitute for industry.  There is still a relatively limited number of Asset Classes available compared to the breadth of industries you might want to identify (for a well diversified portfolio). 

There is no way to alter the industries that are assigned to each security by Quicken.  That information reportedly comes from Morningstar through Quicken's data provider.  That data (industry) is quite fallible (may be dated, inaccurate, or different than your other sources).

If you want your own industry assignments, I would suggest using Excel (or similar), creating a table of Quicken security names (or tickers) and the associated industry you want.  I would then copy an applicable report (portfolio value?) from Quicken to Excel and use the table as a lookup source to then correlate security and value with industry.   

YingDave

At least you have an option to edit Asset class as I am using the Canadian version which by the look of it does not have this Customise button, or Custom1, 2 etc classes. 

pacQuick

Thank you Jim_Harman & q_lurker! You've given me hope. I'm working on your suggestions now.
It'd be great if Quicken, in future update, would include the flexibility with Asset Class and Industry. Until then, your contribution to the Community for providing ideas for a work-around is greatly appreciated.

Jim_Harman

A further note on asset classes:

The Asset Class column in the Portfolio views only allows one asset class per security. Any securities like a total stock market fund or a target retirement fund that holds multiple asset classes are lumped together as "Asset mixture".

The Asset Allocation report  and the Portfolio X-Ray break out multiple classes per security.

pacQuick

Hi Jim . . I think I'm missing how to manipulate the Asset Allocation report (from top bar menu, Reports/Investing/Investment Asset Allocation) and the Portfolio X-Ray report (from Investing/Portfolio X-Ray). [The Investing/Allocations report I find frustrating as the graphs are too top level and drilling down in them with addt'l pop windows does not provide what i need, if not confusing]

The former shows me all my holdings but only in 1 asset class. Asset Classes are Large Cap/Small Cap/Int'l Stocks/Domestic Bonds/Unclassified/Cash/Other/No Asset Class ( btw, under Cash, I don't know why some funds are there as they are not just Cash - shouldn't be like that). I have securities that target more than one, as you mentioned, but only see them listed under 1 Asset Class or even dumped into 'No Asset Class'. They should be under multiple, and honestly, to be effective, should tell me what % of the holding is part of that Asset Class (ie: maybe one asset within it is so small a % I don't care but, flip side, it could have a large % of 1 asset class, more than I realized, and find it's tips the balance scale!).

For the latter report (X-Ray), I do not see the individual holdings. The only listing of holdings is at bottom of report that gives 'Top 10 Underlying Holdings'. In Stock Sectors section, I see Sectors (Sensitive / Defensive / Cyclical) with categories under each (ie: Sensitive/Energy or Defensive/Utilities, etc) but have no listing of my holdings that make up the % noted. Nice stats . . but with not knowing specific holdings allocated to them, its not possible to utilize for re-balancing as I don't know what holdings to address!

A bit frustrating. It's like I can glean some information from these reports but unable to make solid decisions from them. Thanks for any guidance here!

Jim_Harman

You are correct that the X-Ray provides an overview but does not help much for rebalancing.

The Asset Allocation report uses the allocations that are defined on the Security Detail page for each security. You can either use the classes that Quicken downloads with the quote data or define them yourself by clicking Edit Details. If you make your own allocations, be sure to un-check the "Download asset class information" box.  

If a security has multiple asset classes, it will appear more then once in the report, with the shares allocated according to the percentage of each class.

Actively managed mutual funds will generally hold some cash, often 10% or so, and that may account for the cash allocations you are seeing.

The best graphical view of your allocations IMO is on the Investing > Portfolio > Allocations page. You can click on the sectors in the pie chart to see what is contributing to each sector.