Russell/Mellon Caps has issued an enhanced version of its performance and attribution software, RPA....
Russell/Mellon Caps has issued an enhanced version of its performance and attribution software, RPA.
The latest version will enable pension fund managers to produce performance and attribution reports on a daily basis.
The service allows users to quantify the value added by their active management strategies over and above the benchmark index returns. The enhanced version of RPA, Russell/Mellon Performance Attribution, also has added functionality to help managers comply with global investment performance standard (GIPS) requirements.
RPA version 4.0 allows asset managers to load and calculate their portfolio data on a daily basis for true daily, time- weighted returns. In addition, index data can be loaded daily or managers can use daily, time-weighted returns with monthly index data for monthly attribution. This offers cost and time savings over daily index data. RPA 4.0 allows attribution analysis to be run over long periods, combining quarterly, monthly and daily data for the same portfolio Gips composite.
Mick Brant, Russell/Mellon Caps managing director, said: 'We've made these changes in response to client feedback and recent trends in the industry. The system is now much faster and more flexible.'
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