by David Spaulding | Oct 13, 2023 | Investment Performance Guy, performance measurement
There was a time when we saw new GIPS® guidance statements introduced on a pretty frequent basis; so much so, many of us were overwhelmed by them.Well, a new one was just introduced that addresses Outsourced Chief Investment Officers, or OCIOs. If your firm or...
by David Spaulding | Oct 10, 2023 | Investment Performance Guy, performance measurement
Thirty-Plus years ago, when the Association for Investment Management & Research (AIMR) launched its Performance Presentation Standards (AIMR-PPS®), the United States Securities & Exchange Commission (SEC) showed support, but never formally endorsed it. Now...
by David Spaulding | Apr 29, 2022 | performance measurement
One of the challenges with market indices is they do not include transaction costs; and this has always been seen as a disadvantage for portfolio managers, whose trades typically come with such costs. And despite the fact that these charges have reduced significantly...
by David Spaulding | Mar 13, 2022 | performance measurement
I love the internal rate of return … Okay, that’s not a surprise, right? You probably knew that, if you’ve been a reader of or listener to my materials over the years. In my view, it should be the dominant way to present performance. Yes,...
by David Spaulding | Apr 9, 2020 | Compounding, excess returns, geometric linking, Investment Performance Guy, rate of return calculations, rates of return
Odd returns are surfacing, and the coronavirus is the culprit I’ll confess to a bit of hyperbole or misdirected blame here. We can’t really credit the coronavirus, but the markets have been extremely volatile, and whenever that happens, we are bound to see...
