Performance Perspectives Blog

Thoughts on performance measurement from David Spaulding and other members of our team.

A multi-currency return puzzle for you to solve (part 2)

A multi-currency return puzzle for you to solve (part 2)

Yesterday, I introduced a case of going from a USD to a GBP return (via an FX rate conversion), then taking the underlying USD assets and converting them to GBP, deriving the return that way, and converting (via the FX converter) to USD [quite a mouthful]. Recall...

read more
A multi-currency return puzzle for you to solve (part 1)

A multi-currency return puzzle for you to solve (part 1)

A TSG client posed the following situation to me, which I hope you find of interest:They calculated the return on a portfolio in US Dollars (USD). They next converted the return to Pound Sterling (GBP). Everything worked correctly; i.e., the returns make sense and are...

read more
Should you have a “performance bible”?

Should you have a “performance bible”?

Yesterday's WSJ had an article by Brian Costa titled "The Rookie and His Pitching Bible," about "the [New York] Met's most promising rookie," Matt Harvey, who relies on a "pitching bible" he created and maintains with much care and attention. "[Harvey] records every...

read more
How best to handle orphan income

How best to handle orphan income

A common challenge with asset managers is how to deal with what might be termed "orphan income": income that arrives after the asset that produced it has departed the portfolio. This often happens when we sell a stock position after it has gone ex (i.e., any...

read more
Why it is good to look at outliers

Why it is good to look at outliers

In the past two weeks I've conducted two software certifications for TSG clients, and in both cases they had controls to test portfolio returns against specified benchmark tolerances. And, as you might expect, the fact that a portfolio blows past a...

read more
TSG to host Risk Week: an online conference event

TSG to host Risk Week: an online conference event

TSG will host Risk Week this coming fall. It will be a week of daily webinars, covering a variety of risk topics.Risk measurement's importance to the investment industry has never been greater; thus our belief that a week of daily sessions, conducted by leading...

read more
More on representative accounts and GIPS compliance

More on representative accounts and GIPS compliance

A TSG verification client recently sent me the following note:Hi Dave, I’m hoping you can answer a questions for us very quickly.  Our CCO and I are having a disagreement over whether representative account performance from a composite can be shown alongside the...

read more

Free Subscription!

The Journal of Performance Measurement

The Performance Measurement Resource.

Click to Subscribe