Benchmarks Presenter Todd Brunskill March 29, 2011
Benchmarks <ul><li>Judge Smails : Ty, what did you shoot today?  Ty Webb : Oh, Judge, I don't keep score.  Judge Smails : ...
Benchmarks <ul><li>What are benchmarks </li></ul><ul><li>Why use a benchmark </li></ul><ul><li>Benchmark solutions at Firs...
What are benchmarks? <ul><li>What is a  Benchmark ? A standard against which the performance of a security, portfolio or i...
What are the types of benchmarks? <ul><li>Indexes </li></ul><ul><ul><li>Daily </li></ul></ul><ul><ul><li>Monthly </li></ul...
Why use a benchmark? <ul><li>Portfolio success tracking </li></ul><ul><li>Portfolio Attribution </li></ul><ul><li>Relative...
Benchmark Solutions at First Rate <ul><li>Monthly and Daily Benchmark services </li></ul><ul><li>S&P, Morningstar, Barclay...
What is should be considered? <ul><li>Appropriateness  </li></ul><ul><li>Consistent </li></ul><ul><li>Measureable </li></u...
What is should be considered? <ul><li>Goals based versus index only,  </li></ul><ul><li>Is an index only solution sufficie...
What is should be considered?
Open discussion <ul><li>Asset weighted versus Policy benchmarks, which is more appropriate? </li></ul><ul><li>What is the ...
Win something <ul><li>How many indexes does First Rate offer? </li></ul><ul><li>Are Morningstar indexes available through ...
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Portfolio Valuation of Relative to Benchmarks

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Portfolio Valuation of Relative to Benchmarks

  1. 1. Benchmarks Presenter Todd Brunskill March 29, 2011
  2. 2. Benchmarks <ul><li>Judge Smails : Ty, what did you shoot today? Ty Webb : Oh, Judge, I don't keep score. Judge Smails : Then how do you measure yourself with other golfers? Ty Webb : By height. </li></ul><ul><li>From the movie Caddyshack. </li></ul>
  3. 3. Benchmarks <ul><li>What are benchmarks </li></ul><ul><li>Why use a benchmark </li></ul><ul><li>Benchmark solutions at First Rate </li></ul><ul><li>What is should I consider </li></ul><ul><li>Open discussion </li></ul><ul><li>Win something </li></ul>
  4. 4. What are benchmarks? <ul><li>What is a Benchmark ? A standard against which the performance of a security, portfolio or investment manager can be measured. Generally, broad market and market-segment stock and bond indexes are used for this purpose. </li></ul>
  5. 5. What are the types of benchmarks? <ul><li>Indexes </li></ul><ul><ul><li>Daily </li></ul></ul><ul><ul><li>Monthly </li></ul></ul><ul><li>Peer groups </li></ul><ul><li>Policy </li></ul><ul><li>Blended </li></ul><ul><li>Models </li></ul><ul><li>Goals based </li></ul>
  6. 6. Why use a benchmark? <ul><li>Portfolio success tracking </li></ul><ul><li>Portfolio Attribution </li></ul><ul><li>Relative success of manager performance </li></ul><ul><li>Risk management and comparison </li></ul>
  7. 7. Benchmark Solutions at First Rate <ul><li>Monthly and Daily Benchmark services </li></ul><ul><li>S&P, Morningstar, Barclays, Russell, MSCI Barra; over 1,000 benchmarks available </li></ul><ul><li>Domestic and Global benchmarks offered </li></ul><ul><li>Asset weighted and Policy benchmarks (Blended benchmarks) </li></ul><ul><li>Historical blending of changes in benchmarks </li></ul><ul><li>Benchmark assignment to sectors with sorting </li></ul>
  8. 8. What is should be considered? <ul><li>Appropriateness </li></ul><ul><li>Consistent </li></ul><ul><li>Measureable </li></ul><ul><li>Total portfolio evaluation </li></ul><ul><li>Asset Class </li></ul><ul><li>Sector </li></ul><ul><li>Security (mutual fund, alternative asset) </li></ul><ul><li>Risk measures along with performance </li></ul>
  9. 9. What is should be considered? <ul><li>Goals based versus index only, </li></ul><ul><li>Is an index only solution sufficient for the client or internal evaluation </li></ul>
  10. 10. What is should be considered?
  11. 11. Open discussion <ul><li>Asset weighted versus Policy benchmarks, which is more appropriate? </li></ul><ul><li>What is the future of benchmarks in performance reporting? </li></ul><ul><li>Should benchmarks change over time? </li></ul>
  12. 12. Win something <ul><li>How many indexes does First Rate offer? </li></ul><ul><li>Are Morningstar indexes available through First Rate? </li></ul><ul><li>Can First Rate support historical index linking? </li></ul><ul><li>Are there different kinds of blended benchmarks? </li></ul><ul><li>If so, what are the different kinds? </li></ul>
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