The Financial crisis has focused investment firms more than ever on the need to better monitor and manage risk. The conveyor-belt of ever more complex investment products has slowed and firms face inc

“Computer says no!” is how I felt when told of the decision of Institutional Shareholder Services (ISS), a subsidiary of Riskmetrics, to declare that all our Non-Executive Directors (NED) were not “in

Any discussion on risk-adjusted performance measures must start with the grandfather of all risk measures the Sharpe Ratio or Reward to Variability which divides the excess return of a portfolio in ex

Software costs money. This cost is pretty visible, you get an invoice from your software vendor depending on the model; one off license costs, annual support agreements, annual subscriptions, upgrades

People form habits and after a while they tend to lose focus on why they do things. They do them because they do them. Asset managers do performance measurement so they buy performance measurement. Th

In one sense there ought not to be too much discussion about the relative merits of money-weighted or time-weighted attribution, the attribution methodology must be consistent with the methodology use