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PPCA is an investment consulting
firm specializing in innovative analytical tools for
the discriminating investor. PPCA is the developer of
StokTrib, attribution software that tracks style allocations
and the effects of style, using portfolio holdings.
This point-in-time, style based attribution analysis
applies to both U.S. and non-U.S portfolios. |
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A point-in-time style-specific investment performance
attribution. Go here and you can read about why this
is the best way to understand your portfolio's investment
style, and to see how value has been added by sector
allocation and stock selection within that style.
And
there's FREE SOFTWARE to download.
Don't confuse StokTrib with returns-based approaches.
We use your portfolio holdings to provide holdings-based
investment style analysis so you can see what your
portfolio looks like NOW. |
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Portfolio Opportunity Distributions, the best backdrop
for evaluating performance anywhere in the World.
PODs tell you if your performance is good or bad,
and StokTrib tells you why. PODs create cyberclone
peer groups that conform to your portfolio's style
mandate, so all of the portfolios that could have
been formed within the mandate become the scientific
backdrop for evaluating success or failure.
This approach
eliminates the myriad biases that come with traditional
peer groups, and they're fast and easy to understand.
No need to wonder who's in the universe because it's
every portfolio that possibly could be. Investment
performance evaluation has never been more accurate.
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| Policy |
This is your most important investment
decision. It establishes your risk tolerance and asset
allocation guidelines. Go to this tab and you'll find
some articles we've written to help you make and monitor
this key decision. Investment policy explains 100% of
investment performance, more than the 93% presented
in Brinson, Beebower, Hood. |
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| Benchmarks |
Style and Sector investment performance benchmarks
are maintained for 22 regions
of the World, including the United States. This tab
discusses recent performance and gives you the ability
to download some of the indexes. Some researchers
have found these style indexes to be superior for
the purpose of conducting returns-based style analysis.
We think they're also good measures of market performance.
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| Publications |
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Alternative investment strategies-hedge funds in particular-have
experienced a significant resurgence recently, largely
in response to the dramatic downturn of the global
equity markets. In response to this explosion in popularity,
this book focuses on many of the best moneymaking
strategies related to these alternative investment
vehicles.
IMCA (The Investment Management Consultants Association)
is a professional association established in 1985,
representing the investment consulting profession
in the U.S. and Canada. Kenneth S. Phillips is a member
of the IMCA Advisory Council and Managing Principal
of Capital Partners, LLC. Ron Surz, CIMA, is a member
of the IMCA Board of Directors and the President of
PPCA Inc.
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Review
"This book
couldn't be more timely! With continued turmoil in
the world economy and a prolonged equity bear market,
investors want to understand the role hedge funds
should play in their investment strategy. Hedge Funds
helps demystify many of the 'secrets' of hedge funds
and gives investment consultants and investors alike
valuable perspective on how hedge funds work, how
they are regulated, their risk/return profiles, and
the role they should play in an investment portfolio."
— J. Richard Joyner
Partner, Ernst & Young LLP
"An excellent
resource for the advisor who is interested in hedge
funds for his/her clients."
— Phillip N. Maisano
Chairman and CEO, Evaluation Associates
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Article
Contributions
Apodictic
Evaluation of Hedge Fund Performance: A Necessary
Truth
Evaluate
Skill not Style
Handling
Hedge Funds
Implementation
Risk: An Important Piece of the Hedge Fund Risk Puzzle
Monte
Carlo Simulations for Evaluating Hedge Funds
Responses
to the Preferences for Hazardous Peer Groups
Testing
the Hypothesis “Hedge Fund Performance Is Good”
Warning!
: Peer Groups Are Hazardous to Our Wealth
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