Gross or net???

A client recently suggested that whenever a firm shows money-weighted returns (with the possible exception of private equity and direct real estate) the returns should always be net-of-fee, since they’re representing how the client is doing. I think this makes...
Holiday Greetings

Holiday Greetings

Our office, like many, will be closing early today, and we won’t be open tomorrow. And so, I want to take this opportunity to express my wishes that you and your family have a Merry Christmas. Our country remains at war and we have many brave service members who...

Rethinking equality…

You may recall that the only major controversy regarding the AIMR Performance Presentation Standards (AIMR-PPS(R)) was the use of asset-weighted returns, rather than equal-weighted. Two groups in particular, the Investment Management Consultant’s Association...

Free Subscription!

The Journal of Performance Measurement

The Performance Measurement Resource.

Click to Subscribe