Phocion’s Performance Audit Service is the most comprehensive performance review available in the industry today. It has been designed to provide firms and their clients the utmost confidence in managing and investing in a fund, whether it is a long-only, traditional strategy or a more complicated hedge strategy. The review focuses on every aspect of the performance management process to ensure that each and every step has been correctly and accurately executed. The steps comprise four phases:
- Data input
- Performance return
- Derived performance
Unlike standard industry practice of auditing sample accounts, Phocion’s review focuses on all levels of a firm, from the most granular (i.e. security level) to the total firm performance and allowing for a complete historic since-inception review. Furthermore, an evaluation is also done of all derived measures such as, multi-period returns, risk-adjusted performance and attribution to ensure they are accurately reflecting the impact of periodic returns over time, risk, and relative performance.