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What's different about alternative investments when it comes to performance measurement and attribution? In some respects, very little; in others, a whole lot.
This session will cover some of the major aspects of measuring performance and attribution for alternative investment products, which include hedge funds, private equities, and real estate. This high-level presentation will also address issues relating to risk measurement, benchmarking, and Global Investment Performance Standards (GIPS®).
Biography
David Spaulding, CIPM, is president and founder of The Spaulding Group, Inc., publisher of the Journal of Performance Measurement, and author of Measuring Investment Performance, Investment Performance Attribution, and Handbook of Investment Performance. He is also contributing author to Performance Measurement in Finance and co-editor and contributing author of Readings in Fixed Income Attribution. Spaulding is a former member of the AIMR-PPS Implementation Committee, Investment Performance Council (IPC), and the IPC Interpretations Subcommittee. He currently serves on the US Investment Performance Committee (USIPC; formerly the NAIPC), the Forum’s Hedge Fund Working Group, and the Forum’s IRR Standards Working Group. As a member of the AIMR-PPS Implementation Committee, Spaulding participated in the development of the 2001 version of the AIMR-PPS standards. As a member of the Investment Performance Council (IPC), he worked on the development of the 2006 version of GIPS. He has over 30 years of experience in management and technology, including over 25 years in the financial sector. He has almost 25 years of consulting experience and in 1994 was elected a Certified Management Consultant by the Institute of Management Consultants. He holds a BA in mathematics from Temple University, an MS in systems management from the University of Southern California, and an MBA in finance from the University of Baltimore. Spaulding is currently pursuing his doctorate in finance at Pace University.
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