Consolidated View | Support multi-currency |Ignore tax residency

New feature ideas
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I added the same topic in February. I would appreciate a respons and possibly a timeline from the Sharesight organization. Or an answer that this is not going to be realized. I have a sub because it was suggested this was forthcoming. But so far, it isn’t.

I would like an overview to include my combined portfolios (#10 , expert plan), having multiple brokers, multiple currencies (including cash accounts in those currencies). Currently the most blocking issue seems to be the required uniformity in tax residency.

I want this because I want to track my overall performance in regions, types of shares and currencies including currency gains. Since Sharesight is a shadow portfolio, I want to reflect my broker accounts including various currencies (EUR - native being Dutch -, USD, AUD and CAD in my case). So my CAD-portfolio could have Uranium-miners, Nickel-miners, Gold-miners and have a CAD-account. I want to follow its individual performance. But likewise I would like to see performance in all uranium miners, so combined with my AUD portfolio. This would all be feasible as far as I can see, when the tax-residency requirement would be gone. (As a Dutch citizen I have no use for the tax residency functionality anyway, but of course other nationalities have a benefit with this feature.)

Right now I cannot actually use Sharesight for which I would think it is intended: removing my Excel files and still maintain insight in performance across stocks, exchanges, currencies, groups of stocks including cash accounts in various currencies. I could add ‘across brokers’, but I could work around that with the creation/combination of portfolios.

There is no work around apart from still requiring the use of Excel. Which would still mean double work and effectively mean NOT using sharesight even though it has superior reporting functionality and potential!

I would very much like to discuss this topic and help / beta test with implementing such a feature.

I have seen a couple of similar requests on the forum, but I did not see actual discussions or commitments with people from Sharesight. Are you willing and able to implement something like this? Do you feel this does not align with your intentions for development going forward? Is it not feasible technically, due to architectural choices and would it have too big an impact? I would very much like to have clarity here, even if the answer would be negative.

(I still have to put in a lot of effort to set up all my portfolios with all historical data and with this feature possibly coming in the near future, I would proceed. Otherwise it doesn’t really make sense.)

3 Likes
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I fully agree. I have the same issue with all Consolidated Views, etc being reported by default in the currency of my Tax Residency. This makes it very difficult to track the performance of the Portfolio in the actual transacted currency.

Having figures and reports using the Tax Residency Currency is useful to have but certainly not at the expense of being able to view the same under the Transacted Currency - which I would opine is the major requirement for most investors.

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Indeed! So how hard would it be for somebody from Sharesight to address this and provide an update as to WHEN this functionality will come. And if it will not come, that would be an answer as well. I am not using my account now and will cancel the subscription without this functionality (forthcoming). I still need Excel now. So unnecessary with all the good stuff Sharesight already has!

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An option to remove the consolidated view in the Tax Residency currency would be a big help. As discussed above, people want to track their investments and performance in the transacted currencies that they hold investments in.