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. |
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