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THE SPAULDING GROUP HOSTS SECOND PERFORMANCE MEASUREMENT FORUM

Next Meeting Planned for San Francisco

Somerset, NJ - May 12, 1999 - The Spaulding Group, Inc. (TSG) held the second meeting of its newly formed Performance Measurement Forum last Thursday, May 6, at Boston's Long Wharf Marriott Hotel.

Jon Stokes, of the Association for Investment Management and Research (AIMR), led off the day with an update on AIMR's Performance Presentation Standards (AIMR-PPS™) and the Global Investment Performance Standards (GIPS™). There were a variety of questions presented by forum members, many of whom made it clear that they want to see more, not less, interpretation from the organization, including "preferred" procedures for industry practitioners.

TSG's president David Spaulding facilitated a discussion on after-tax performance, one of the hottest issues in performance measurement today. The forum plans to create a focus group to explore this topic further, possibly resulting in recommendations to AIMR for inclusion in the AIMR-PPS and/or GIPS.

The event's keynote speaker was James Hollis, a partner with Boston's Standish, Ayer & Wood, who presented a lively picture essay describing the events that sparked the fire, which evolved into the AIMR-PPS.

Kevin Tan, a risk management specialist with Chicago's Northern Trust Company, led a discussion on risk measurement and its distinction from performance measurement.

The afternoon's open discussion session revealed an interest among forum members to gather and share practical information about performance measurement technology, in-house solutions, and available vendors.

Courtesy of Dave Stone, of First Rate Investment Systems President, several forum members visited Boston's Fenway Park the night before the meeting, to watch the Texas Rangers defeat Boston's Red Sox.

The Forum's Fall/ Winter meeting is planned for mid-November in San Francisco. A European chapter is planned, with its first meeting targeted for the fall in Madrid, Spain. More information to follow.

The Performance Measurement Forum is a members-only, highly interactive group that meets semi-annually to address performance measurement-related topics of interest to its members, with the goal of providing new ideas and insights. The forum plans to communicate ideas and recommendations to other industry groups, such as AIMR, to improve standards and practices throughout the industry.

Members include representatives from: Banc One Investment Advisors Corporation; Bankers Trust/ WM Company; Brinson Partners; CAPS, Ltd.; Clay Finley; Credit Suisse Asset Management; DPG mbH; Dresdner RCM Global Investors; First Rate Investment Systems; INVESCO; J & W Seligman; Norwich Union Investment Management; Prudential; STW Fixed Income Management; Templeton Global Investors; The Guardian; Thomson Investment Software; and US Trust Company.

TSG is a management consulting, research, publishing and training firm that serves the money management industry in the areas of computer technology, operations, marketing, performance measurement and reporting. TSG also publishes The Journal of Performance Measurement, a quarterly publication it launched in 1996.

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