A comprehensive understanding of the key concepts of Performance Measurement within the framework of Client Reporting.

The course explores, through practical workshop sessions and pc based training:

• An introduction to Performance Measurement

• How does Performance work?

• Data issues and Performance

• Why are Client Reporting and Performance related?

• What does Client Reporting need to know?

• Performance presentation

• Attribution, Risk and GIPS

Course Format:

The course combines a balance between PowerPoint presentations and practical worked examples. The presentations introduce the concepts and themes for each session. The worked examples put the theory into practice and ensure full understanding as well as how they can be implemented in real life situations.

This is a very intensive and interactive course with a strong focus on operational practice. Attendees will be arranged at round tables, in groups of 6-8, so they can work as a team for the workshop exercises and exchange ideas throughout the day.

Why you need to attend:

Delegates and their employers will benefit in a number of ways, including:

• Gaining priceless experience of performance within a client reporting environment

• Interpreting a variety of performance techniques and methodologies

• Implementing the practical techniques mastered on return to the office

• Gaining valuable experience of using the spreadsheets and how they can be interpreted

• Improving productivity by overcoming the “cut and paste syndrome” by understanding the fundamental principles underlying performance

• Improving performance and attribution reporting by understanding the limitations and potential problem areas

Prior to the course, you will be given a pre-course questionnaire to enable us to ascertain the level of the group. On completion of the course, each delegate will receive a signed certificate of training.

Who should attend?

The course is designed for people within performance measurement teams, client reporting, trustees and administrators.

Cost:

£1,699 + VAT (The price includes refreshments, lunch and full course documentation)

Basic Performance: Calculating returns

• Returns

• Return Relative

• Cashflows

• Different methodologies

Worked PC Example 1 (Calculating Returns)

1. Calculate returns from Market value and Cashflows

2. Money-Weighted Returns

3. Time-Weighted Returns

Contribution to return

• Average weight calculation

• Asset class contribution

Worked PC example 2 (Contribution to return)

1. Calculate average values

2. Calculate contributions to asset class level

Benchmark calculation

• Fixed weighted

• Market cap

• Rebalancing

• Universes

Worked PC example 3 (Benchmarks)

1. Calculate fixed, market cap and floating benchmarks

Data problems and inaccuracies

• Pricing

• Corporate actions

• Accruals

• Transaction matching

• Valuing and pricing derivatives

Worked PC example 4 (Data problems)

1. Calculate returns with different data cashflows

2. Currencies and their impact

3. Income: accrual versus received

Attribution

• Single currency

• Multi currency

Worked PC example 5 (Attribution – single currency)

1. Calculate attribution effects

2. Questions to test understanding of how the effects work

Worked PC example 6

(Attribution – multi currency)

1. Calculate attribution effects

2. Understanding local to base returns

3. Questions to test understanding of how the effects work

Risk

• Ex Post

Worked PC Example 7 (Risk)

1. Calculate basic risk measures

2. Understanding risk

GIPS

• Overview

• Methodologies issues

• Presentations

• Reporting

• Disclosures