Combined denominators for related portfolios

Accounts are often governed separately, and some carry no limit at all, such as a founder's personal holding. Only a combined measure shows the family's total exposure to one company.

A clause such as across all family entities, no more than 10% in one company needs a combined measure.

The related-portfolio template measures the largest instrument, issuer group or counterparty group across every portfolio in scope. The denominator is the combined value of the set.

In the registry's worked cases, an issuer at 200 in a 500 account and 100 in another 500 account reads 30% of 1,000. That breaches a 25% cap; at 100 in each, it reads 20% and passes.

One unvalued holding in any member makes the whole set unmeasurable. A group limit read off part of the set is not a compliance statement.

Equally, a member without an accepted snapshot blocks the set-level number (AGGREGATE_MEMBER_NOT_ACCEPTED). Accept every member's data before relying on the combined figure.

Membership is a policy decision. Decide whether trusts with independent trustees, or a family foundation, belong in the set, and record why.

A set whose criteria match no portfolio measures nothing and reads not applicable (EMPTY_PORTFOLIO_SET). Acclimetry's Analysis view also rolls exposure up by entity or household, which helps check the set before the rule runs.