"The new composite capabilities greatly extend the value of InvestEdge ASP's industry proven performance system by providing a management-level picture of portfolio performance, and equipping firms for effective performance marketing," says InvestEdge's CEO Bob Stewart. "Firms can easily track portfolio participation, create composites for any portfolio grouping, and compare them to relevant benchmarks."

Valid comparisons

The addition of a performance-composite engine gives InvestEdge ASP users the ability to track portfolio participation, calculate asset-weighted performance composites and compare them to relevant benchmarks.

This is meant to help investment managers make valid performance comparisons against all assets managed to the same style. Composite universes can include groups of accounts with similar objectives, portfolio characteristics, market value, or other customizable attributes.

InvestEdge uses GIPS-compliant calculation methodologies -- based on time-weighted rates of return, daily valuations, and trade data and accrual accounting -- to calculate composites. As a result, advisors can analyze and report on key composite metrics such as portfolios and assets within the composite and annual rates of return. Firms can also measure dispersion, including standard deviation of portfolio returns and cumulative returns for the composite and corresponding index for any given period.

Philadephia-based InvestEdge says its core application can be integrated with most back-office portfolio-accounting, trust-accounting, brokerage and trading systems. Its client roster includes Greycourt and Co., TD Banknorth, Glenmede Trust and Wilmington Trust. -FWR

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