Performance Attribution and GIPS

answering, everyone, material, through, really

Thanks to everyone here for all your insightful posts. Reading through all of these have really helped to solidify my understanding of the material.

As a means of saying "thank you", I would like to offer to answer any questions that anyone has about performance attribution and/or GIPS, the two topics that I feel strongest on.

Please post your questions, if you have any, and I'll take a shot at answering them...

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NakedPuts00

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发表于 2011-7-11 19:23 | 只看该作者

1. No. The wrap fee sponsor would be the investment advisor, who would then hire a sub-advisor to manage the actual portfolio.

Client --> Investment Advisor (AKA sponsor) --> Sub-Advisor

2. The sponsor is the one that charges the wrap fee, which includes all services (investment management, trading, custody services, etc.). If there's a sub-advisor that's hired (or is trying to get hired) to manage part or all of the portfolio, they wouldn't know how much the sponsor/investment advisor charges for the wrap fee - they would only know what they charge the sponsor. Let's say a sponsor is looking for a new investment manager to manage SMAs. The IM would put together a GIPS-compliant presentation (from their perspective) to provide to the sponsor. However, this presentation shouldn't be passed along to the sponsor's client because it wouldn't be net of the ENTIRE wrap fee.

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Analti_Calte

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3^#

发表于 2011-7-11 19:23 | 只看该作者

Thank you so much, darkstar. Really help.

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