by David Spaulding | Apr 12, 2017 | pooled funds, GIPS, Global Investment Performance Standards, Investment Performance Guy, mutual funds
In September 2013, those of us who attended the annual GIPS(R) conference were provided with some rather scary news: that managers with pooled funds (e.g., mutual funds) would be required to provide all prospective fund shareholders with the composite...
by David Spaulding | Mar 15, 2017 | GIPS, GIPS verification, Global Investment Performance Standards, Investment Performance Guy
Chances are that if you claim compliance with the Global Investment Performance Standards (GIPS(R), your GIPS presentations are running out of room. But many GIPS compliant firms like to limit their composite presentations to one or two pages. Over the years,...
by David Spaulding | Mar 8, 2017 | Global Investment Performance Standards, dispersion, GIPS, Investment Performance Guy, Standard Deviation
We just published our monthly newsletter (a few days late, but better-late-than-never, right?). And already we’ve gotten comments in on two things: #1 is our puzzle, but a close #2 is my commentary on annualized standard deviation. And, as I point out, the...
by David Spaulding | Feb 14, 2017 | dispersion, GIPS, Global Investment Performance Standards, Investment Performance Guy, Standard Deviation
The GIPS(R) standards require compliant firms to include a measure of dispersion for each year in which they have six or more accounts present for the full 12 months. But, which return should they use, gross-of-fee or net-of-fee? What about for the 36-month, ex...
by David Spaulding | Feb 9, 2017 | GIPS supplemental information, GIPS, Global Investment Performance Standards, guidance statement, Investment Performance Guy, performance measurement
I finally got around to writing up my comments to the draft guidance on supplemental information for GIPS(R) (Global Investment Performance Standards). Since the idea of supplemental information pertains to just about all firms that claim compliance with the...
by David Spaulding | Feb 1, 2017 | performance measurement, GIPS, Global Investment Performance Standards, Investment Performance Guy, performance attribution, rate of return, rates of return, Returns, risk, risk measurement
Hidden Figures: the movie My wife and I recently saw the movie “Hidden Figures,” which is about the contributions that three black women made to the U.S. space program, starting in the early 1960s. It takes place in Virginia, which at that time was...
