Clean Share Class Synthetic History Extensions

What are Clean Share Class extensions?

At FE's discretion, the history of a Clean Share Class unit has been synthetically extended to use the history of the primary unit.

Example: The history of Invesco Perp - High Income (PE12) starts 08/02/1988, the history of which is used up until the history of Invesco Perp - High Income No Trail begins from 31/05/2007. This is represented in the chart below.

Why have FE synthetically extended the history?

Previously, the short history available for these units makes producing charts, tables or reports over longer performance periods seem rather empty, and considering the growing popularity of Clean Share Classes, this was not sustainable - longer histories were required.

How will I know if the history has been extended?

Throughout Analytics caveats have been included to inform our users where the history extensions have been applied. Notably, these are available through Performance Charts, Performance Tables and Custom Tables.

In addition, the Interactive Performance Chart provides information surrounding the synthetic history extension. To view this, click the Fund Events menu, then the Synthetic History checkbox.

How is ranking affected?

Due to the way in which our ranking is calculated, the ranking within Analytics can only be calculated for the history of the Clean Share Class unit, not the extended history. As such, users may encounter instances where ratio or performance data is available for long periods, but ranking data is only available for the Clean Share Class' history. (See below)

What if I do not want to see extended histories for Clean Share Class units?

If you do not wish to see the synthetic history extensions, they can be disabled upon request, please contact the support team.