Fund Data Converter
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OFRE000405 – Weighted Average Life
WAL (Weighted Average Life) is the weighted average of the remaining life (maturity) of each security held in a fund, meaning the time until the principal is repaid in full (disregarding interest and not discounting). Contrary to what is done in the calculation of the WAM, the calculation of the WAL for floating rate securities and structured financial instruments does not permit the use of interest rate reset dates and instead only uses a security’s stated final maturity. WAL is used to measure the credit risk, as the longer the reimbursement of principal is postponed, the higher is the credit risk. WAL is also used to limit the liquidity risk. Definitions are available from both CESR’s Guidelines on a common definition of European money market funds and the EU regulation 2017/1131.
| Property | Value |
|---|---|
| OF-ID | OFRE000405 |
| Name | Weighted Average Life |
| Area | Fund ratios and exposures |
| Level | Fund |
| Format | Decimal number |
| Tags | Ratios and Exposures |
| Introduced in | openfunds 1.26 |
Values
Decimal figure, rounded to maximal 7 digits after the decimal point.
Example
70.6
FundsXML 4 mapping
FundsXML 4.2.11 has no element for this field. The converter keeps the value as CustomAttributes/Attribute named OF_OFRE000405 on the share class (or position), so FundsXML → openfunds restores it unchanged.
The field mapping table lists every field; openfunds to FundsXML explains the rules behind it.
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