Performance measurement and attribution are key tools in informing investment choices and strategies. Efficiency measurement is the quality control of the funding determination course of, enabling money managers to calculate return, perceive the conduct of a portfolio of property, communicate with purchasers and determine how performance will be improved.
Practical Portfolio Performance Measurement and Attribution 2nd Edition by Carl R. Bacon focuses on the practical use and calculation of efficiency returns rather than the tutorial background. This text provides clear information to the role and implications of those methods in at present’s monetary setting, enabling readers to apply their knowledge with quick effect.
The vocabulary and methodologies utilized by performance analysts worldwide are extraordinarily different and complex. Regardless of the development and global success of efficiency measurement standards there are considerable variations in terminology, methodology and attitude to efficiency measurement throughout the world.
Authors provide a reference of the out there methodologies and to hopefully present some consistency of their definition, promote the position of performance measurers and supply some insights into the tools accessible to efficiency measurement. This text covers key new developments corresponding to fastened income attribution, attribution of spinoff devices and different investment strategies, leverage and brief positions, risk-adjusted performance measures for hedge funds plus updates on presentation standards.
Complete with a CD containing labored examples for almost all of reveals, the book covers the mathematical elements of the topic in an accessible and practical approach, making this book an essential reference for anyone concerned in asset management. Attribution analysis is helpful for analyzing performance not just for the latest period but additionally for the longer-time period requiring the linking of multi-interval attribution results. The issues of multi-period attribution are mentioned in Chapter 8.
With practical examples this book should meet the wants of performance analysts, portfolio managers, senior management within asset management firms, custodians, verifiers and the ultimate clients. I’m particularly pleased that this second version features a CD together with many of the practical examples used throughout the book.
Practical Portfolio Performance Measurement and Attribution, with CD-ROM [Hardcover]
Carl R. Bacon
Wiley; 2 edition (June 24, 2008)
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