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Net-of-fee returns: what to do with the denominator

Net-of-fee returns: what to do with the denominator

by admin | May 9, 2012 | AIMR-PPS, GIPS, Global Investment Performance Standards, gross of fees, net of fees

A colleague recently brought to my attention wording that appears in the 1993 edition of the Performance Presentation Standards, published by AIMR (Association for Investment Management and Research; the former name of the CFA Institute). On page 25, under a section...
More on composite returns

More on composite returns

by admin | Sep 28, 2011 | AIMR-PPS, GIPS, Global Investment Performance Standards

Brian Chapman (of KPMG, London) reminded me that the AIMR-PPS(R)’s view of composite return is that it’s “a single value that reflects the overall performance (the ‘central tendency’) of the set. The objective in reporting the returns of...
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