I was having a look at 2007 exam, question 9: 1. In macro performance attribution, I understand we use no benchmark weights, as our underlyings are managers 2. In micro performance attributon NOT INTERNATIONAL, I understand we will use our portfolio weights Vs the benchmark weights (and returns, of course) 3. In micro perfromance attribution INTERNATIONAL, I understand we can: a. use our portfolio weights Vs the benchmark weights (and returns, of course) b. not use benchmark weights, and just use our weights and returns, currencies, etc 2007 exam, question 9 would fit into 3.b do you agree? thx
3b is a lot easier to calculate than 3a. and yes exam 2007 had a benchmark of 0.