How to assess a pension fund’s performance

This is the time of year when many pension funds report their returns for the prior fiscal year. And often, the reported returns were calculated using a time-weighted method. But, is this appropriate? Or, perhaps, is more needed? In my way of thinking, pension funds,...

What question does the GIPS for Asset Owners composite return answer?

The revised GIPS for Asset Owners guidance statement┬áhasn’t yet been finalized, but we can pretty much expect that the time-weighted composite return requirement will remain. At a recent NYSSA (New York Society of Security Analysts) GIPS program,┬áthat I had the...

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