This is the time of year when many pension funds report their returns for the prior fiscal year. And often, the reported returns were calculated using a time-weighted method. But, is this appropriate? Or, perhaps, is more needed? In my way of thinking, pension...
Performance Perspectives Blog
Thoughts on performance measurement from David Spaulding and other members of our team.
How to assess a pension fund’s performance
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Announcing TSG’s Sixth Performance Measurement Technology Survey
TSG, in association with Confluence Technologies, Ortec Finance, Robust Technologies, and Statpro, is conducting a performance measurement technology survey. This is the sixth time TSG has conducted a survey on performance measurement technology. The survey...
But it seemed like such a good idea at the time …
I have frequently encountered things that have been implemented, that just seemed like SUCH good ideas at one time. However, often we later discover that what may have, indeed, seemed like a good idea isn't, in reality. This post will focus on a few of cases...
In performance reporting, how much precision do we need?
How much precision do we need? I'm a rounder: I confess. I'm fine rounding numbers. When I was mayor of the Township of North Brunswick (NJ) (2000-2003), our finance officer would deliver reports to me with precision to the penny; I told him just to round, to...
When the labels don’t matter; e.g., time-weighting
Sometimes, the labels don't matter We just finished our European conference PMAR, an event that we felt was a huge success. And, as I often do, I made an attempt to interject a bit of humor. A favorite label of mine to pick on is "regular coffee," as the opposite...
What do bond rating agencies and mutual fund peer group providers have in common?
When I learned of the recent Barron's article touting the success of an Eaton Vance municipal bond fund, based on the ratings given by two mutual fund peer group providers, a thought immediately occurred to me: it sounded exactly like the problem that resulted...
Promoting Strong Women
This is QUITE a different post for me, but after some recent reflection, decided it was appropriate. The idea of "promoting strong women" isn't new for me. I've been doing this for quite some time. When I was mayor of North Brunswick, NJ (2000-2003), I made...
Something smells, and it isn’t sweet perfume: questionable past performance
First, in the spirit of full disclosure ... The source for this post is one of our GIPS verification clients. They reached out today, alerting me of what they believed was misleading information as reported by Barron's. After some discussion and a bit of review, I...
Charles Schwab Performance Charts: what’s good/what’s bad?
This post is about performance charts; it just so happens that I'm using one that just appeared on Twitter by Charles Schwab. As the saying goes, "credit where credit is due," so I'm obligated to acknowledge my source. But, I'm not really wanting to critique Charles...
Announcing a GIPS 20/20 Consultation Paper Consultation Webinar
In case you haven't heard, the Global Investment Performance Standards (GIPS®) are going to have a rather major "make over." It's planned for 2020, and so to take advantage of the uniqueness of this particular year, it's being referred to as "GIPS 20/20." Get it? You...