ACA Spotlight Blog

ACA Spotlight Blog

Risk and compliance alerts, insights, and resources for financial services firms
 

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Performance

 

GIPS Compliance & Verification
March 1, 2018
The decision to pursue GIPS compliance and verification is not always a simple choice. There are many moving parts within a firm’s compliance framework, and thus there are a number of important considerations that must be made before a firm can attain compliance with the GIPS standards.
asset managers
February 5, 2018
Last month I had the opportunity to moderate a panel at the PEI CFOs & COOs Forum in New York on “Performance Calculations: Does the PE Industry Need More Standardization?” The panelists were seasoned CFOs from respected private equity fund managers and exchanged engaging dialogue with over 100 attendees in the breakout discussion.
TWR vs. IRR
January 31, 2018
Investors and portfolio managers alike grapple with the best calculation methodology to use in performance measurement. We've created a fact sheet to help you distinguish the two primary measures: the time-weighted rate of return (“TWR”) and the internal rate of return (“IRR”).
GIPS
December 14, 2017
The Guidance Statement on Broadly Distributed Pooled Funds was approved on 13 March 2017.
GIPS Standards Guidance Statement on Overlay Strategies
December 7, 2017
Last summer, CFA Institute released the Exposure Draft of the GIPS Standards Guidance Statement on Overlay Strategies. Historically, this segment of the investment industry has not received much in the form of ethical best practices in calculating and presenting performance, and this release was the first attempt by CFA Institute to issue official guidance for overlay managers.
Performance Update
November 16, 2017
For roughly 25 years, institutional investors have increasingly required asset managers with whom they invest to claim compliance with the GIPS standards. This requirement is largely required of traditional fixed income and equity strategies and applied to asset managers that work predominantly with institutional investors. Early on, most private wealth managers were exempt from the requirement, and thus their rates of compliance paled in comparison to those of traditional institutional managers.
Annual GIPS Standards Conference
October 9, 2017
The 21st Annual GIPS Standards Conference was held in San Diego on September 14-15 with over 300 attendees. A number of topics were covered, including important aspects of the proposed 2020 GIPS Standards updates. 
ACA and Ashland
May 26, 2017
Earlier this month, ACA announced that it is set to acquire Ashland Partners & Company, LLP's GIPS compliance verification and performance practice. When this transaction closes in June, ACA Performance Services will offer the most experienced team of GIPS compliance verifiers in the world, servicing over 1,000 clients annually, including 49% of the top 100 managers of institutional assets worldwide (as determined by Pensions & Investments magazine).