Why does the asset class of my investments keep changing to Asset Mixture?

csbrown99
csbrown99 Member ✭✭
edited January 13 in Investing (Mac)
The asset class of some of my mutual fund investments changes from the correct class to "Asset Mixture" every time I open Quicken. This happens despite my correcting the Asset Class information manually.
- It happens across several accounts
- The problem is replicable
- I believe this only started happening with the latest update. I'm running Version 6.3.1 (Build 603.40939.100) on macOS 11.5.2

I've seen on the Quicken Support forums that the Windows version of Quicken has an option to turn off automatic downloading of Asset Class but the Mac version doesn't seem to have this option.

This issue is important to me since I export this data to a spreadsheet that allows me to monitor and manage my investment targets across my various accounts. Having to manually set Asset Class every time I need to do this is a real PIA.

Best Answer

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited August 2021 Answer ✓
    Yes, there was a change made in version 6.3. It's a good change which will be helpful -- but they left it partly implemented in this version, which is causing some confusion and pain.

    Quicken's third-party quote provider reports the opponent makeup of every security. So if you hold share of the Vanguard Balanced Index Fund, for instance, clicking on Security Overview shows you a page which indicates the fund consists of 62% stocks, 35% domestic bonds, 3% international bonds. In version 6.3, for the introduction of the Asset Allocation on the Dashboard screen, Quicken began using this data to calculate an accurate picture of your asset allocation. 

    But in versions 6.3, they didn't are the comparable change to the Portfolio screen. So if you look at Asset Allocation on the Portfolio screen, this fund shows up as simply "Asset Mixture" instead of 62% stocks, 35% domestic bonds, and 3% international bonds.

    Going forward, the Quicken Mac product manager has stated they need to finish implementation of this functionality. They need to (a) add a screen so users can see how Quicken is breaking down the asset classes of each security, (b) make these mixed-asset class security user-editable, because some users have securities which are not publicly traded for which Quicken can't download the breakdown of assets, and (c) switch the Portfolio screen's asset allocation to use the same calculation methodology as the Dashboard.

    Once they do that, you probably won't need your separate spreadsheet to monitor your asset allocations across your accounts, because you're be able to see it within Quicken. But right now, we're in an awkward in-between place. Hopefully they'll fix this in the 6.4 release.
    Quicken Mac Subscription • Quicken user since 1993

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited August 2021 Answer ✓
    Yes, there was a change made in version 6.3. It's a good change which will be helpful -- but they left it partly implemented in this version, which is causing some confusion and pain.

    Quicken's third-party quote provider reports the opponent makeup of every security. So if you hold share of the Vanguard Balanced Index Fund, for instance, clicking on Security Overview shows you a page which indicates the fund consists of 62% stocks, 35% domestic bonds, 3% international bonds. In version 6.3, for the introduction of the Asset Allocation on the Dashboard screen, Quicken began using this data to calculate an accurate picture of your asset allocation. 

    But in versions 6.3, they didn't are the comparable change to the Portfolio screen. So if you look at Asset Allocation on the Portfolio screen, this fund shows up as simply "Asset Mixture" instead of 62% stocks, 35% domestic bonds, and 3% international bonds.

    Going forward, the Quicken Mac product manager has stated they need to finish implementation of this functionality. They need to (a) add a screen so users can see how Quicken is breaking down the asset classes of each security, (b) make these mixed-asset class security user-editable, because some users have securities which are not publicly traded for which Quicken can't download the breakdown of assets, and (c) switch the Portfolio screen's asset allocation to use the same calculation methodology as the Dashboard.

    Once they do that, you probably won't need your separate spreadsheet to monitor your asset allocations across your accounts, because you're be able to see it within Quicken. But right now, we're in an awkward in-between place. Hopefully they'll fix this in the 6.4 release.
    Quicken Mac Subscription • Quicken user since 1993
  • csbrown99
    csbrown99 Member ✭✭
    Thanks jacobs,

    I suspected it was something like that.

    I hope Quicken doesn't get too clever with this. For instance many money market funds invest in very short duration bonds that are effectively cash instruments and I wouldn't want the program to decide that such a fund is an Asset Mixture fund when it is really just a money market fund. Right now my money market fund is being shown as an Asset Mixture fund. A user over-ride would be useful, perhaps.

    Also my external spreadsheet does more than just report my asset allocation and I doubt Quicken will accommodate my specific needs but it does sound like a nice feature.

    Anyway, thanks for the information. Much appreciated.
  • wbeekman
    wbeekman Member
    Following -- This is a real problem to understand asset allocation, hope it is resolved quickly WITH the ability to define custom asset classes.
  • K.
    K. Member ✭✭
    Jacobs' post is not what I'm seeing. I'm seeing nearly every mutual fund thrown into "asset mixture" from where I'd previously set it. I can find no display that shows me what that mixture is. Quicken for Windows used to have an option whether you wanted to define your own asset classes (including mixtures) and, at the same time, prevent downloading of asset classes when the prices updated. I can find no such setting in Mac
  • K.
    K. Member ✭✭
    To clarify: there is no display within Quicken to show me the asset class breakdown. Clicking on overview sends me to the Morningstar website, one of many that gives me this info. But it isn't useful if I cannot get that info into Quicken to see my own asset allocation
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Yes, we are describing the same thing. Quicken is overriding the asset class entered by users when it has information about the security from Quicken's quote provider. Anything that isn't 100% one asset class is changed to asset type=Asset Mixture. In the Dashboard view, Quicken is using the underlying makeup of each security to give a precise asset allocation. In the Portfolio view, you see all such securities as "Asset Mixture" -- which is problematic at this time, and awaiting a fix in a future release.

    And yes, Quicken Mac is also currently lacking any user interface to see, let alone edit, the breakdown of asset classes for a security. The data is there, and is used in the Dashboard calculation, but we can't see it, as one can in Quicken Windows. The product manager has said this will also be addressed in a future release.
    Quicken Mac Subscription • Quicken user since 1993
  • Mikey2021
    Mikey2021 Member ✭✭
    Please, please, please Quicken go back to allowing user-customizable asset classes. My primary use of Quicken is to analyze asset allocation across multiple investment accounts, and right now that is impossible because a large portion of my securities show as "Asset Mixture". I appreciate the progress toward ultimately being able to drill down into asset allocation for a given security, but there must always be a user override so we can see the data how we want to see it. Thanks!
  • K.
    K. Member ✭✭
    Yes, this business of changing the asset classes every time the program updates is ridiculous, especially to "mixture" without making it clear what the mixture is. Q for Windows has had this right for many years - it should not be that difficult to fix
  • This is a disaster. Please go back to allowing user-customizable asset classes! I don't mind automatic assignment, as long as I can override it my way. Most of my securities are now assigned to "Asset Mixture," making the allocation percentages useless. Like others here, I also use Quicken primarily to analyze asset allocation across multiple investment accounts. Help!
  • +1 on the need for a user override feature.
  • I have the same problem and it makes it very difficult to effectively use Quicken for Mac. I hope this gets rectified soon.
  • ttravaille
    ttravaille Member ✭✭
    +1 on the need for user override. It used to work. Has cost many of us much time to figure out it's broken and develop a workaround outside Q.
  • ricky35
    ricky35 Member
    The current situation with Quicken overriding user-assigned asset classes is a major, major problem that effectively eliminates important functionality. I echo other's comments - Quicken needs to: 1) stop overriding user-assigned asset classes and 2) allow users to create and utilize custom asset classes. The existing menu is sorely lacking.
  • 20202
    20202 Member ✭✭
    After overriding the Quicken "Asset Mixture" selection twice now, I started looking to see if this was a bug. Despite the rationalization stated here, this is a bug and it should be fixed . . . Please!
  • psmiraglia
    psmiraglia Member ✭✭
    1) stop overriding user-assigned asset classes and 2) allow users to create and utilize custom asset classes. The existing menu is sorely lacking.

    please fix this ! prioritize what you break before bringing new functionality...
  • ttravaille
    ttravaille Member ✭✭
    Now have Version 6.4.2 and this bug still exists. Please fix this ! Fix what you break before adding new features. Also - +1 and allowing for custom asset class. Silly we all have to download from Quicken to excel and correct everytime we want something so basic.
  • Mikey2021
    Mikey2021 Member ✭✭
    Totally agree with the negative feedback above. Quicken has ruined the ability to view asset allocation in any kind of consistent or rational way. Needs to be fixed ASAP!!!
  • 20202
    20202 Member ✭✭
    If anyone is awake at Quicken: If you can't fix this bug, at least add a preference that will allow us to shut off updating of Asset Class and allow us to enter this variable without you overriding it at the next price check. You can update the prices without updating the asset class every time, can't you?
  • Totally agree. Need to stop overriding user set asset classes and have the ability to create our own asset classes.
  • mwangkc
    mwangkc Member
    edited November 2021
    This:
    1) stop overriding user-assigned asset classes and 2) allow users to create and utilize custom asset classes. The existing menu is sorely lacking.

    please fix this ! prioritize what you break before bringing new functionality...
  • K.
    K. Member ✭✭
    Not only has it not been fixed, it's getting worse. Just this week, several international stock holdings were reclassified as asset mixture. Pretty soon, 100% of what I hold will be in the asset mixture category and the function will be completely worthless
  • garyrp
    garyrp Member
    Quicken wrecked the asset class functionality. I also don't understand why we are limited in the number of asset classes. We should bve able to add custom asset classes.
  • 20202
    20202 Member ✭✭
    Well it seems to be fixed and improved in the December release.
  • 20202
    20202 Member ✭✭
    Let me correct my "Well it seems to be fixed" comment above.

    The December update (6.5) adds the feature to download and keep the asset classes, or override with your own asset mix, which works in the new Dashboard fine. BUT if you look at your Total Portfolio List, the next tab over, and have the column "Asset Class" showing, it's still not working correctly. If you look at your Security List almost everything is "Asset Mixture" apparently because it seems that if your 100% Bond fund has 0.1% in cash, an 99% in Bonds, its an asset mixture.

    If you want to sort your Mutual Fund Portfolio by Asset Class, you can't because everything is "Asset Mixture."

    Unless I'm missing something . . .
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @20202 It's fixed in the Dashboard; it remains broken in the Portfolio view. Portfolio view is only using the name of each security's asset class; the code hasn't been update to do like the Dashboard and look at the "x-ray" makeup of each asset. They needed to make the security asset mix values visible and editable, so they did that in the 6.5 release; hopefully the 6.6 release will fix the Portfolio to use the same calculations as the Dashboard.

    As for custom asset classes, it's a bit of a double-edged sword. Quicken is using 7 basic classes used by their data provider (Morningstar?), but clearly different companies use different definitions of basic asset classes. Why no ability to separate mid-cap stocks from large- and small-cap? Value stocks from growth stocks. Short term bonds from long-term bonds? Or to add classes such as real estate, commodities, cryptocurrencies and more? the problem is that custom classes would break Quicken's use of data from their third-party provider. The solution is probably to allow custom classes, but also provide a clear warning that use of custom classes for a security disables downloads of asset class breakdowns which tend to change over time.

    I'd actually like to see them add a separate, second dimension of asset breakdown by sector (communications, energy, financial services, healthcare, industrials, real estate, technology, utilities, etc.), which is useful for investors trying to keep their investments diversified and not overweighted in one sector, such as technology stocks. But I don't think it's likely we'll get that, especially if Quicken Windows doesn't already include it.
    Quicken Mac Subscription • Quicken user since 1993
  • 20202
    20202 Member ✭✭
    In the old days, Quicken for Mac would allow you to assign a "goal" to each security. That's how I got around the lack of asset mixture granularity. I could assign International, Mid, Large Caps, Value or Large Cap Blends to the funds or stocks. Then you could sort and maybe even graph by whatever class you assigned the security. But that went away long ago. I could never figure out why they kept dumbing down the program . . .
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @20202 I think what they are working towards now will be better, although I suppose it depends on your investments. I have a large percentage of my retirement and non-retirement assets in mutual funds, so the new granularity will be helpful for those of us invested in funds which aren't nearly 100% in one asset class. 

    I never knew how to make effective use of the Types in Quicken 2007. For instance, if you assigned Value, Growth, or Blend to a security, then you couldn't track by Large, Medium or Small cap. What investors generally need are two or three different dimensions for looking at their investments.
    Quicken Mac Subscription • Quicken user since 1993
  • garysmith87
    garysmith87 Member ✭✭✭✭
    Can I interject something that may be just slightly off topic but may be useful?

    I'm not sure that Quicken Mac users realize that when they click on the individual name of a security in any of the Portfolio views ... whether the Investing heading, the groups or the account subgroups ... and select "Security Overview", you get the Fund Fact Sheet, which lists probably everything you need to know about the security or mutual fund.

    This info comes from investing.quicken.com and is the same info available from Quicken Windows for securities.  

    I find this info invaluable as to all the metrics that's been discussed here...asset allocation, sector allocation, the "nine box" Morningstar Summary info, top ten holdings for mutual funds, etc.  

    I'm not sure that most Quicken Mac users even know that this information is available to them from within Quicken.  


  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I agree that fact sheet about each security is indeed helpful; it just doesn’t offer any way to aggregate information for multiple securities let alone apply it proportionally to the securities one holds.
    Quicken Mac Subscription • Quicken user since 1993
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