It is a bit more maintenance than you are talking about but a lot less than maintaining a full portfolio.
I have investments in three master funds (the number is due to legal restrictions here) Each master fund is invested in a variety of wholesale funds 20+ in fact.
It is impratical to even to try to maintain the full data for all these investments - the data would have to be manually extracted from various reports and then entered into Moneydance, funds change, rebalancing is done, reinvestments etc.
So I do not and just maintain each master fund at a total level. But I have set it up in way that suits how Moneydance works.
My initial investment was at a price of $1 per share so the number of shares equals the total purchase price.
After doing this the only three events I have to account for are:
Placing more money into a master fund
Withdrawing money from a master fund
Changes in the value of the total value of the funds
Moving money round the wholesale funds is not relevant, neither is reinvestment etc.
I update things monthly.
If all that has happened is a change in value then the current value divided by my "number" of shares gives me a new value per share which I enter as a new price
If I add or withdraw money I get the value of the fund just before the event to update the price then a division of the amount of the investment added or withdrawn by this price gives me the number of shares I need to perform a buy or sell of the fund within Moneydance.
To make it easier I just created a spreadsheet with the logic embedded so I just have to enter some numbers into it and get the calculated data I need for Moneydance.
There are some rounding errors, but this is just an approximation and in any case many underlying fund prices could be for a previous day so it is close enough, I have seen some fund prices are even only weekly.
Both the methods that Stuart and I outlined will work for current value, which to use can come down to how you want to use the data, if it is always just at that point in time or if you want it over time.
I can only suggest you investigate the options and see which works best for you.
Thank you both for your ideas. I had thought of using an Asset decided at first that it was probably too inflexible. The second suggestion sounds like it might have more legs - i will give it a try in a test MD file. thanks again