The main points covered in this article comprise:
- term “calculated value return” (or “CVR”) originally used
- virtually all investment performance MV-based
- pension trustees have very long timeframe
- alternative to using MV for assessment mentioned by others
- “broadly right” better than “precisely wrong”
- client fund example with comments
- relying on MV can give wrong long-term message
- several references (especially alternatives mentioned)
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