"The Loop" 3Q16

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UPCOMING EVENTS

Lunch N' Learn: Latest Trends with Cyber Security
Please join Ashland Partners for a complimentary networking luncheon as we discuss the latest trends with cyber security.  If you are interested in attending an upcoming luncheon, please contact Brigitte Nickel to reserve your seat.

Philadelphia | August 18
Denver | September 22
Seattle | October 13
Dallas | November 17

Lunch N' Learn: GIPS® Compliance: Creating a Framework for Your Firm
Please join Ashland Partners for a complimentary networking luncheon as we discuss the hurdles that firms must tackle as they navigate the path to becoming GIPS compliant and verified. If you are interested in attending an upcoming luncheon, please contact Brigitte Nickel to reserve your seat.

Sydney | August 10
Boston |October 19

Ashland Partners' Educational Conference 
This practical 2-day course is designed to give a thorough understanding of the fundamentals of performance measurement, ranging from basic return calculation, benchmarks, risk-adjusted performance measurement, and attribution techniques to the Global Investment Performance Standards.

Washington | Sept. 12-13
Chicago | Nov. 15-17

ANNOUNCEMENTS

New Ashland Partners' Website 
Ashland Partners recently launched a new website. The new site will serve as a platform for information and resources created to address the due diligence needs of the financial services industry. Read More >>

2016 Ashland Partners Software Directory
Ashland Partners publishes a Performance Measurement Software Directory on an annual basis. This directory is shared at conferences, Ashland Partners' events, and with every future Ashland Partners' client and prospect.

WHAT YOU'VE MISSED

Guidance to Effective Investment Reporting
The Guidance to Effective Investment Reporting (“EIR”) was published as an extension to the Principles that presents these recommendations. The EIR presents each of the five Principles along with a series of recommendations that advise a preparer to take some type of action. Below are some examples of the recommendations associated with each Principle. Read More >>

The Rise of Hypothetical Back-Tested Performance
Just within the past few years the use of back-tested performance has seen a spike in usage. We have begun to see more and more firms rely on this method to create historical track records for marketing purposes. There are a lot of investment managers out there that rely on quantitative analysis for their stock selection and argue that the historical back-tested track record does materially reflect what their ongoing process would entail. Read More >>

Qualified Professional Asset Managers and the QPAM Exemption
The Employee Retirement Income Security Act of 1994 (ERISA) is a federal law meant to protect retirement assets by establishing minimum standards for pension plans in private industry. The purpose of the rules are to ensure that plan fiduciaries do not misuse plan assets. As a result, ERISA generally prohibits the fiduciaries of qualified plans from executing various transactions. Read More >>

Finding Outliers
Trying to identify portfolios that do not belong in a composite can be a difficult and time consuming chore. However, identifying these portfolios before performance is published or initial data is sent to Ashland Partners, can reduce the number of errors and improve the efficiency of the verification or examination. What follows are some simple mathematical tests that can be performed to help identify outliers and thus potential errors. Read More >>

UPCOMING WEBINARS

Invitations to register will be sent 2 weeks prior to the webinar. If you are not on our mailing list, please contact our Client Relations Group for more information.

Performance Presentation Standards: Foundation for Investor Trust 
Presented by Richard Kemmling, CPA, CIPM, CGMA
Recorded Webinar
Please join Ashland Partners as we explain why presentation standards are needed in today's environment. This webinar will provide a brief overview of the GIPS Standards, as well as discuss the advantages and limitations of verification. 

GIPS Marketing Requirements
Presented by Julia Reyes, CIPM
August 23 | 2pm-3pm ET 
Please join Ashland Partners as we cover GIPS marketing requirements and sound practices that can be implemented to ensure compliance.
 
GIPS Conference Overview
Presented by Ashland Partners 
October 4 | 2pm-3pm ET 
Please join Ashland Partners as we discuss the key take-aways from this year's CFA Institutue's GIPS Conference.

ASHLAND PARTNERS' CYBER SECURITY

I Know What I Should Do! 
My two children occasionally fight with each other. I was reminded of this fact recently when my son antagonized my daughter so much, that she kicked him in the shin. I broke up the ensuing fight, sat my kids down, and talked to them. I began by asking my daughter, “Do we resort to violence in our family… even when provoked?” My daughter knew the proper response and said, “No dad.” I then turned to my son and asked him, “Do we intentionally bother others?” He also knew the right answer and said, “No dad.” Both of my children knew that they had done wrong and received gentle correction for their infraction. That incident got me thinking.  Would I have been able to hold them accountable if they didn’t understand acceptable behavior? Probably not. That is why policies and procedures are so important for a firm. Read More >>
 
Mimosas with Breakfast 
Whenever I think about policies and procedures, I am struck by the number of unwritten polices we use in everyday life. For example, I have an 8 year old son and a 10 year old daughter. Every Sunday through Friday I get up and make my kids breakfast before school. On special occasions, I make my wife breakfast and give her a mimosa.  When Saturday rolls around, I get to sleep in. On those days, my children feed themselves. I sleep soundly knowing that my daughter will not make herself a mimosa with her breakfast. I know this because she hates the taste of them, and the champagne is stored in a location that she cannot access. We have an unwritten access control policy in our household. We have defined champagne as an adult beverage, and we keep our champagne in a location that our children can’t access. Read More >>