Overview > Index Performance
ERNST AND YOUNG NEW ZEALAND ABSOLUTE RETURN INDEX
BACKGROUND:
The Ernst & Young New Zealand Absolute Return Index has been launched by the New Zealand Absolute Return Association to:
- Raise awareness of the New Zealand absolute return industry, both offshore and domestically.
- Demonstrate the competence of New Zealand absolute return managers.
- Provide a potential vehicle for emerging New Zealand managers to get new funds under management through a fund structure.
Ernst & Young compiles the index but takes no responsibility for the performance of the index, nor the veracity of the performance information contributed by the constituent managers.
Minter Ellison Rudd Watts compiled the documentation for the index.
CURRENT PERFORMANCE:
May 2010
Month on Month: -2.720%
Year to Date: -2.719%
Annualizing at: +15.250%
Since inception: +49.35%
2007 YTD: +8.397%
2008 YTD: +20.402%
2009 YTD: +17.484%
2010 YTD: -2.719%
INDEX CONSTRUCTION:
Each of the constituent managers provides a monthly "NZARA Average" - which is the average performance of all of those funds or managed account programs that have an existing track record and are available for new money.
The index is then compiled as a simple average of the NZARA Averages.
There are currently eight managers in the index representing a cross section of strategies - including global equities, commodities, trend-following and long volatility/tail risk strategies. At January 31, 2010 there were a total of 22 different funds or managed account programs coming into the index from the eight constituent managers combined.
New investment managers are welcome subject to vetting by NZARA.
Please note: An investment manager must be a Corporate Member of NZARA to have performance information included in the index.
A new investment managers' performance is added into the index from the initial date of contribution. The index dataset is not back-filled with the new managers' performance data.
The index continues to retain a component manager's historical performance information if that investment manager leaves the index.
The index has no specific currency denomination, the effect of this being that the index is an average of monthly returns in a range of currencies.
The index is subject to survivorship bias and all other bias' common to indices.
BACKGROUND:
The Ernst & Young New Zealand Absolute Return Index has been launched by the New Zealand Absolute Return Association to:
- Raise awareness of the New Zealand absolute return industry, both offshore and domestically.
- Demonstrate the competence of New Zealand absolute return managers.
- Provide a potential vehicle for emerging New Zealand managers to get new funds under management through a fund structure.
Ernst & Young compiles the index but takes no responsibility for the performance of the index, nor the veracity of the performance information contributed by the constituent managers.
Minter Ellison Rudd Watts compiled the documentation for the index.
CURRENT PERFORMANCE:
May 2010
Month on Month: -2.720%
Year to Date: -2.719%
Annualizing at: +15.250%
Since inception: +49.35%
2007 YTD: +8.397%
2008 YTD: +20.402%
2009 YTD: +17.484%
2010 YTD: -2.719%
INDEX CONSTRUCTION:
Each of the constituent managers provides a monthly "NZARA Average" - which is the average performance of all of those funds or managed account programs that have an existing track record and are available for new money.
The index is then compiled as a simple average of the NZARA Averages.
There are currently eight managers in the index representing a cross section of strategies - including global equities, commodities, trend-following and long volatility/tail risk strategies. At January 31, 2010 there were a total of 22 different funds or managed account programs coming into the index from the eight constituent managers combined.
New investment managers are welcome subject to vetting by NZARA.
Please note: An investment manager must be a Corporate Member of NZARA to have performance information included in the index.
A new investment managers' performance is added into the index from the initial date of contribution. The index dataset is not back-filled with the new managers' performance data.
The index continues to retain a component manager's historical performance information if that investment manager leaves the index.
The index has no specific currency denomination, the effect of this being that the index is an average of monthly returns in a range of currencies.
The index is subject to survivorship bias and all other bias' common to indices.