Bespoke Attribution: Illustrating the Manager’s Process

$25.00

It is commonplace in discussions of performance attribution that the methodology should reflect the investment process it purports to measure.  Yet, in practice, we find managers have far more often implemented widely available “standard” methodologies than not.  The resultant attribution reveals a palpable and frustrating gap between the investment story that the manager is trying to tell and the measures being used to illustrate it.

Author: Mark R. David, CFA, Essex River Analytics

It is commonplace in discussions of performance attribution that the methodology should reflect the investment process it purports to measure.  Yet, in practice, we find managers have far more often implemented widely available "standard" methodologies than not.  The resultant attribution reveals a palpable and frustrating gap between the investment story that the manager is trying to tell and the measures being used to illustrate it.

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