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Why is the performance of my model portfolio lower in the Uscan transactional report than in the Uscan portfolio report?

The model portfolio performance in the new Uscan transactional report, which is fully integrated with your clients account, includes adviser and product fees and charges when calculating performance, which is not the case in the Uscan portfolio report. Therefore the same model portfolio could appear to have different performance if viewed in a transactional report and in a portfolio report.