when speaking about macro attribution the term “return” metric and dollar metric/ value metric is often used.I dont really unterstand the difference? is value/ dollar metric more detailed? thank you.
What are people doing about macro attribution in general? It’s one of those annoying things I don’t want to spend too much time on and too scared to completely ignore
Its a fairly easy concept. Return you have the returns and must attribute them. Cash flow/Value you have the value of the account. + Cash Flows + RFR + Allocation + Benchmarks + Managers + Trading (fill in term) If you already have the returns you can start at allocation. If you have the account values and cash flows you have to start at point 1.
I just learned the steps and memorized the formulae. They’re pretty intuitive.
what page is this in the curriculum?
Return metric is used to show how the account would do without CF - Basically a TWR Value/ Metric incorporates CF's - this is an MWR Return metric shows the sponsor how well they chose the specific manager, while the value/ metric shows the impact of the sponsors policy allocation decision making.
CFASniper Wrote: ------------------------------------------------------- > What are people doing about macro attribution in > general? > > It’s one of those annoying things I don’t want to > spend too much time on and too scared to > completely ignore I’m in the same boat. With all the other items to learn/memorize, I’m probably going to punt this one (but like you said, I am scared to punt it).
i tried to do some problems and review this, but there arent any EOCs besides a compare and contrast macro to micro that address this. frustrating.