Performance attribution derives the currency and cross product returns from the base and local data inputs. A description of each intermediate return calculation follows.
Return | Formula | Description |
Fund Currency Return | ((1+ Base Fund Return) / (1 + Local Fund Return)) − 1 | The geometric difference between the Fund base return and the Fund local return. |
Fund Cross Product Return | Local Fund Return * Fund Currency Return | Results from the combined effect of the currency and local investment. |
Index Currency Return | ((1+ Base Index Return) / (1 + Local Index Return)) − 1 | The geometric difference between the Index base return and the Index local return. |
Index Cross Product Return | Local Index Return * Index Currency Return | Results from the combined effect of the currency and local investment. |