by admin | Oct 29, 2009 | GIPS
For the past year much of the focus regarding the GIPS(R) standards has been on “GIPS 2010,” the next edition of the Global Investment Performance Standards, to be published in early 2010 (thus the “2010” in the name) and to go into effect in...
by admin | Oct 28, 2009 | Investment Performance Guy, News
This won’t be the only time you’ll read about this, but it may be the first: TSG has entered its 20th year in business! Why 20 years should be any more special than 19 or 21 is obviously because society tends to associate extra attention to dates ending...
by admin | Oct 27, 2009 | IRR, money-weighting
I was asked this question yesterday and thought it worthy of comment. First, to clarify, “net” means after the fee is removed, while “gross” means before the fee is deducted. There are generally two reasons we show IRR. First, in cases where...
by admin | Oct 26, 2009 | GIPS, money-weighting, time-weighting
Several years ago I pleaded with the then, “powers that be,” to loosen the rules regarding the use of IRR for GIPS(R) compliant firms. At that time, the ONLY asset class for which the rules applied was private equity. The soon-to-be-published GIPS 2010...
by admin | Oct 23, 2009 | risk
One of our clients asked us to calculate a variety of risk statistics for them this week and in the course of the assignment we were asked some intriguing questions, a couple of which I’ll share with you today. Annualizing Beta: can we annualize beta? I...