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Investment Performance

The SEC’s New Advertising Rule – Presenting Performance

Wondering how to present performance under the SEC's New Advertising Rule? Do you need to use composites? The answer is…
Investment Performance

When to Use Time-Weighted Return (TWR) vs. Money-Weighted Return (MWR)

When should you use a TWR and when is it appropriate to use a MWR (IRR)?
GIPS Compliance

GIPS Compliance FAQs

When do we need to distribute GIPS Reports? Do we have to market every composite? Can I present performance without a GIPS Report? FAQs about GIPS compliance answered…
Investment Performance

What is the Information Ratio?

The Information Ratio demonstrates a strategy's excess return, scaled by risk. Rather than using total risk or systematic risk, the Information Ratio uses…
GIPS Compliance

Key Takeaways from the 2020 GIPS® Standards Virtual Conference

Did you miss the GIPS Conference this year? Most of this year’s conference was focused on compliance with the 2020 GIPS standards, as well as important discussions around US-specific (SEC) regulatory compliance and ESG performance. Below are some key takeaways from this three-day event.
GIPS Compliance

How to Update Your GIPS Reports for the 2020 GIPS Standards

Investment firms and asset owners that comply with the GIPS standards are required to make some modifications to their GIPS Reports (formerly known as “GIPS compliant presentations”) to address changes made to the 2020 edition of the Standards. The extent of these updates depends on: Whether your organization plans to adopt any new optional policies […]
Investment Performance

What is the Sortino Ratio?

The Sortino Ratio is similar to the Sharpe Ratio as it is used to compare and rank managers with similar strategies. However, unlike Sharpe, the Sortino Ratio measures the incremental average strategy return over a minimum acceptable return per unit of downside risk rather than total risk. Because of this difference, the Sortino Ratio may […]
GIPS Compliance

How to Update your GIPS Policies & Procedures for GIPS 2020

If you are an investment firm or asset owner that complies with the GIPS standards you are required to make some modifications to your GIPS policies and procedures (“P&P”) to address changes made to the 2020 edition of the Standards. The extent of these updates depends on: whether your organization plans to adopt any new […]
GIPS Compliance

How to Comply with the 2020 GIPS Standards

A new decade is upon us and with the new decade comes a series of new requirements in terms of investment performance reporting for firms and asset owners that elect to claim compliance with the GIPS standards. Many organizations have elected to adopt the 2020 edition of the GIPS standards early and have already put […]