by admin | Jan 27, 2010 | GIPS, Global Investment Performance Standards
The subject of net-of-fee returns, as they pertain to the Global Investment Performance Standards (GIPS(R)) came up twice this week already, so I’ll share with you the questions and my responses. First, I was asked about firms using “model fees” to derive their...
by admin | Jan 24, 2010 | Investment Performance Guy, News
With the recent, though delayed, publication of the Fall issue of The Journal of Performance Measurement(R) came the announcement that Damien Laker won the Dietz Award for 2009. As you may have heard, Damien passed away last year. While one might think that our board...
by admin | Jan 21, 2010 | Investment Performance Guy, News
Firms that claim compliance with the Global Investment Performance Standards (GIPS(R)) are required to have written policies and procedures. And one of these policies should address the timing on when an account is added to a composite. A few thoughts: We prefer that...
by admin | Jan 20, 2010 | GIPS, Global Investment Performance Standards
Firms that claim compliance with the Global Investment Performance Standards (GIPS(R))are now required to revalue their portfolios whenever large cash flows occur. A few points to make: What if you calculate composite returns and use the aggregate method (i.e., where...
by admin | Jan 18, 2010 | tracking error
As promised last month, I thought it would be helpful to review the various risk measures. And, I may as well discuss my favorite: Tracking Error. Tracking error is an ideal measure to assess the active risk the manager is taking. Many risk measures (e.g., standard...
