by David Spaulding | Mar 17, 2020 | time-weighting, Investment Performance Guy, IRR, rates of return
My colleague, Jennifer Barnette, CIPM, suggested that this blog post from many years ago be published again. I was flattered that she felt it was worthy of reappearing. She was also kind enough to do some edits. It has been quite some time since I’ve done a blog...
by David Spaulding | Oct 1, 2019 | Modified Dietz, #GIPS2020, 2020 GIPS Standards, geometric linking, GIPS 20/20, GIPS 2020, Global Investment Performance Standards, internal rate of return, Investment Performance Guy, IRR
One of those confusing things in the world of performance measurement: Modified Dietz Modified Dietz is one of the most commonly used return measures. Granted, Peter Dietz probably never referred to it as “Modified” (he called it...
by David Spaulding | Mar 3, 2018 | performance measurement, CIPM, Investment Performance Guy, IRR, PMAR
In this weekend’s WSJ there’s an article on companies that are encouraging their employees to get tattoos: Nice Tattoo! I Didn’t Know You Worked at Walmart. I would love to see Patrick, Chris, and Douglas, or John, Ashley and Linda adorn their bodies with...
by David Spaulding | Jul 31, 2017 | pension funds, asset owners, GIPS, Global Investment Performance Standards, Investment Performance Guy, IRR, money-weighted return, performance measurement, time-weighted return, time-weighting
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,...
by David Spaulding | Jun 16, 2017 | time-weighting, geometric linking, internal rate of return, Investment Performance Guy, IRR, money-weighted return, money-weighting, time-weighted, time-weighted return
Sometimes, the labels don’t matter We just finished our European conference PMAR, an event that we felt was a huge success. And, as I often do, I made an attempt to interject a bit of humor. A favorite label of mine to pick on is “regular coffee,” as...
by David Spaulding | May 25, 2017 | asset owners, GIPS, Global Investment Performance Standards, internal rate of return, Investment Performance Guy, IRR, performance measurement, time-weighted return, time-weighting, TWR
The revised GIPS for Asset Owners guidance statement hasn’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, that I had the...
