Highlight

Welcome to our pilot project, "Monthly Updates"! Dive into the highlights of anticipated industry events, ask your questions, and uncover hidden gems worldwide with us each month. We hope you enjoy our content and eagerly welcome your feedback to keep the excitement alive.

Question of the month

Question: What are the GIPS requirements on disclosing a custom benchmark?

Answer: If a custom benchmark or combination of multiple benchmarks is used, the firm must:
a. Disclose the benchmark components, weights, and rebalancing process, if applicable.
b. Disclose the calculation methodology.
c. Clearly label the benchmark to indicate that it is a custom benchmark.

Example: “The benchmark is the public market equivalent (PME) of the ABC Mid-Cap Equity Index, which tracks the performance of US mid-cap companies. The PME is a method by which a public market index is used to create a since-inception money-weighted return that is comparable to a fund’s since-inception money-weighted return from a series of cash flows that are the same as those of the fund and uses a theoretical investment value. The theoretical investment value is derived by buying and selling the public market index using the dates and amounts of actual pooled fund cash flows.”

Word of the month

THE GIPS STANDARDS - standard for calculating and presenting investment performance around the world.
Compliance with the GIPS standards has become a firm’s “passport” to market investment management services globally.
Asset owners that comply demonstrate a commitment to adhering to global best practices.

The mission of the GIPS standards is to promote ethics and integrity and instill trust through the use of the GIPS standards by achieving universal demand for compliance by asset owners, adoption by asset managers, and support from regulators for the ultimate benefit of the global investment community.

Event of the month

Tuesday, November 14, 2023 - The National Conference is PMAC’s most highly anticipated event of the year. The agenda will includes an exceptional line-up of world-class thought leaders who will address key global issues and timely topics impacting professionals in the industry. EVIV Group is proud to be one of the Sponsors for this prestigious event. We hope that you will drop by and visit our booth in the lobby if you are attending the Conference or will be in the area. For more information about PMAC 2023 National Conference, please visit: https://pmac.org/2023-11-14-national-conference/

Picture of the month

Embark on a journey with us as we introduce you to the hidden gems that often go unnoticed.
The 112 m (367 ft) tall Shwedagon pagoda is the most sacred Buddhist pagoda in Yangon (Myanmar), as it is believed to contain relics of the four previous Buddhas of the present kalpa. And sitting at the very top of the umbrella is its largest and most precious gemstone, a 72-carat diamond. See it on Google maps