The following figure shows typical results that a Multi-Manager Contribution analysis using Multi-Manager Attribution analysis can produce. Notice that within the Plan, the results are grouped by asset class (Equity, Fixed Income), and then by Manager.
Multi-Manager Contribution Analysis Sample Report
A multi-manager attribution report has these characteristics:
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After the report that runs the attribution analysis engine constructs the portfolio and benchmark, it can calculate the contribution (and attribution effects, if desired) by passing these constructed entities to the Brinson-Fachler Global Attribution Group analysis. The weights used as input for the benchmark are the same as the portfolio weights. This causes an attribution to have zero Allocation and Interaction Effects. All of the active return is contained in the Selection Effect.
If Manager level entities join or leave the Plan during the individual periods (Day/Month) of the full multiple period analysis, the report includes those entities appropriately, using the standard ACOM or COMP inclusion and exclusion logic.
If the top level entity's Base Currency differs from the currency of the underlying Entities in the Entity Hierarchy, or from the associated benchmark's Base Currency, the report automatically performs FX conversion of the underlying entities to the top level entity's Base Currency.