by admin | Sep 22, 2010 | GIPS, Global Investment Performance Standards, money-weighting, time-weighting
If you’re a frequent reader of my blog and/or our firm’s newsletter, you know of my passion for money-weighting, especially when it comes to subportfolio returns.I’m teaching classes this week for a client and when we discussed subportfolio returns...
by admin | Aug 31, 2010 | money-weighting, time-weighting
A brokerage client just mentioned that one of their reps wants money-weighted returns at the subportfolio level. And I was asked to contrast the advantages and disadvantages of time- versus money-weighting. Well, in one respect he came to the wrong guy, because there...
by admin | Jun 29, 2010 | money-weighting, time-weighting
A few days ago I announced the arrival of the June newsletter, and a couple attentive readers immediately made me aware of a typo. In the “logic” section on page 3 you’ll find “And the inverse holds: when the manager does control the cash...
by admin | May 17, 2010 | money-weighting, time-weighting
Occasionally we hear a call for “reporting standards.” Personally, this is far from the top of my priority or wish list. Guidance is often appreciated, but standards? No thank you! Okay, and so for a little guidance consider that reporting should very much...
by admin | Apr 21, 2010 | GIPS, Global Investment Performance Standards, money-weighting, time-weighting
We have a new client who wanted us to do a “non-GIPS(R) verification” of a composite. We do this type of work for clients who aren’t able (or choose not) to comply with the Global Investment Performance Standards. We typically begin by understanding...
by admin | Apr 15, 2010 | money-weighting, time-weighting
I’ve seen reports (for firm that have multiple managers) that show each manager’s time-weighted return, along with the fund’s overall time-weighted return. What is being conveyed by the comparison? And what does the overall return tell us? It would...
