My son, Chris, and I had a preliminary meeting with someone who is looking to obtain compliance with the Global Investment Performance Standards (GIPS(R)). He left his prior firm and has recently created an account that is being managed in the same fashion as those he...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
Filling in the gaps of performance … or not!
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Blending MWRR & TWRR
The same question has come up twice in the past week, so I thought it worth posting.A manager manages several different accounts for the same client. Some returns are money-weighted (MWRR), some time (TWRR). The manager wishes to consolidate the accounts to present a...
At the risk of upsetting some GIPS folks, I offer the following thoughts …
I participated in the rewriting of the wrap fee (aka SMA (Separately Managed Account)) guidance, as a member of the then AIMR-PPS(R) Implementation Committee. This was the rewrite of the earlier rewrite, that was handled by a single (un-named) member of this...
Bottom up attribution
A colleague asked me for some details on bottom up attribution. I then asked for the context in which he was speaking, since knowing the context is important.If we're talking about a "bottom up" manager, who doesn't take allocation into consideration, one could argue...
A different kind of attribution
When I teach our Performance Fundamentals and Attribution classes, I often say how we frequently borrow concepts from other places: attribution is just one example. We didn't come up with the idea of attributing an event to a cause, or determining how various causes...
Happy Thanksgiving
From all of us at TSGA Very Happy Thanksgiving
Getting the words right
My wife and I recently came across this sign on the front door of a medical facility where we had an appointment. If we are obligated to follow these instructions, we must attempt some other means to gain access to the building. No doubt when the creator of the sign...
Alternative Investment Guidance Statement Explained
If your firm complies with the Global Investment Performance Standards (GIPS(R)), then you need to be familiar with the new guidance statement on alternative investments. TSG's Jed Schneider, CIPM, FRM will host a webinar tomorrow, Tuesday, November 20, to provide...
Taking a week off (well, except for today, which is only for explanatory purposes)
My wife and I are on vacation this week in beautiful Aruba, to celebrate our 40th wedding anniversary. And so, rather than detract attention to the woman I love (save for this single post, while she's showering), I won't post again until next week. Hope you...
Next week is Risk Week … still time to sign up!
TSG will hold its second annual webinar conference next week, and the subject is RISK! Each day there will be a different topic and speaker. Details can be found on our website. This conference format (one topic/speaker per day for five days) provides a cost effective...