SYLVAN REPLACEMENT

REPORT
Investment Operations Summer 2019

Fink, Jackson
[email protected]
Lange, Brock
[email protected]
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Table of Contents
1. Introduction
1.1. Overview of Sylvan
1.2. Problem Statement
1.3. Project Objectives

2. Current State
2.1. Overview
2.2. List of Inputs/Outputs
2.3. Sylvan Interface

3. Business Impact Analysis

3.1. Scope
3.2. Impact Analysis

4. Inputs
4.1. SNIP
4.2. Index Load
4.3. External Source Returns
4.4. PAM/Enterprise
4.5. Fee Tool

5. Outputs
5.1. Cube
5.2. Performance Recon
5.3. FactSet
5.4. Sylvan Utilities
5.5. Sylvan AdHoc Tool
5.6. Aladdin
5.7. ROR Aggregator
5.8. PMW Equities
5.9. Finance Fee Management
5.10. DWH
5.11. PM Commentary

6. Types of Reports

7. Stakeholders

8. Open Items (Gabbi)

Addendum
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1. Introduction
Principal Global Investors (PGI) is the investment management division of the broader
Principal Financial Group. PGI offers a multi-boutique strategy that allows the firm to offer
an array of different investment capabilities across Equity, Fixed Income, Real Estate, and
Asset Allocation to name a few. Within PGI there are also shared service teams such as
marketing, compliance and investment operations that support the front office in a variety
of ways. From an investment operations perspective, one of the tools used to support
calculating and disseminating investment performance is SS&C’s Sylvan investment
performance system. The organization has used this tool since the early 2000’s and was
updated in 2009.

The purpose of this report is to document the following:

• Create a detailed workflow for the current Sylvan investment performance system
that includes systems that input data and consume data as it relates to Sylvan.
• Identify and document key stakeholder’s needs that could be impacted as a result
of replacing the investment performance system.
• Recommend future changes and possible improvements relative to the existing
investment performance workflow.

1.1 Overview of Sylvan

SS&C’s Sylvan is the third-party vendor investment performance system that the
investment performance teams (GIPS, Equity, and Fixed Income) within Operations use
for maintaining and calculating portfolio, index, and composite level investment
performance and aum. Daily portfolio returns are calculated based on underlying
holdings and transactions sourced from our Eagle Accounting System and feed into
Sylvan through the Sylvan Nightly Import Process (SNIP). Daily and monthly index
returns are loaded based on a variety of index sources into Sylvan by the Equity, Fixed
Income, and GIPS team which are used for benchmark comparison purposes. Monthly
composite performance is then aggregated based on underlying portfolio performance
which is then used in a variety of marketing materials such as RFPs, databases, and pitch
books.

1.2 Problem Statement

Principal Global Investors needs to replace their Sylvan Investment system with a newer,
more practical system as the existing system is slow and inefficient. In addition, the
system needs to be updated and more user-friendly. Finally, a new system may offer
more technological advances that could create scale as it relates to IT workflow and
infrastructure. To do so, PGI must fully understand all the different inputs/outputs of
Sylvan as well as key stakeholder’s needs that could be impacted because of replacing
the investment performance system of making changes to the current investment
performance workflow. This will require a deep dive into each input and output that
relates to Sylvan as well as documenting the respected processes. We need to evaluate
the risks associated with replacing Sylvan and take the necessary precautions to have a
plan in place to mitigate these risks.
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1.3. Project Objectives

1.3.1 Discovering and understanding all the inputs and outputs of Sylvan

Our first step for the project is to have thorough interviews/meetings with all the
users/consumers of any input or output of Sylvan. That includes:

• Sylvan Nightly Import Process-IT (Tonya Bowman)

• ROR Aggregator-IT (Tonya Bowman) and Fixed Income Performance
• Index Load-GIPS (Eric Wittrock), Equity Performance (Zach Scharff, Jacob
Stumberg), and Fixed Income Performance (Zach Rouw)
• External Source Returns-Dublin Funds (Ian Sara), Composites (Eric Wittrock), and
Aussie Funds (Ty Miller)
• Fee Tool-IT (Tonya Bowman) and GIPS (Therese Johnson, Eric Wittrock, Jonathan
Gesink)
• DWH-IT (Jennifer Imig, Bruce Hansen)
• FactSet-Equity Performance (Phil Krause)
• PMW Equities-IT (Tonya Bowman)
• Aladdin-Fixed Income Performance (Brett Bloemendaal)
• Cube-GIPS (Therese Johnson, Eric Wittrock) and IT (Kim Dorenkamp)
• Sylvan Utilities-IT (Tonya Bowman) and GIPS (Therese Johnson and Eric Wittrock)
• Sylvan Ad Hoc Tool-Equity Performance (Ian Sara) and IT (Tonya Bowman)
• Daily Performance Checks-IT (Tonya Bowman) and Equity Performance (Zach
Scharff, Jacob Stumberg)
• PM Commentary-IT (Lora Legg)
• Performance Recon-IT (Tonya Bowman) and Equity Performance (Phil Krause)
• Unknown IT connections-IT (Gabbi Steffensmeier)

This round of meetings will:

• Provide a deeper understanding of the current processes in place and how each
team uses or relies on Sylvan
• Help illustrate some potentially problematic areas that will require more in-depth
research
• Initiate the first step in the documentation process that will allow the replacement
of Sylvan in the future
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2. Current State
2.1 Overview:
• Sylvan is dated and needs to be replaced
• Many timely and unnecessary processes are currently in place that could be
automated
2.2 List of Inputs/Outputs:

2.3 Sylvan Interface:

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3. Business Impact Analysis

3.1 Scope
• The scope for Sylvan impact includes the following business units and systems:
o Processes/Systems:
o SNIP
o ROR Aggregator
o Index Load
o External Source Returns
o Fee Tool
o DWH Reporting
o FactSet
o PMW Equities
o Aladdin
o Cube
o Sylvan Utilities
o Sylvan AdHoc tool
o Daily Performance Checks
o PM Commentary
o Perf Recon
3.2 Impact Analysis
• Below is the list of teams using the business units and systems
o Investment Operation’s Performance Teams
o Equities
o Fixed Income
o GIPS
o IT
o Front Office
Business Units and Systems Teams
SNIP IT
ROR Aggregator IT & Fixed Income
Index Load Fixed Income, Equity & GIPS
External Source Returns Fixed Income, Equity & GIPS
Fee Tool Fixed Income, Equity, GIPS & IT
DWH Reporting Fixed Income, Equity & IT
FactSet Equity
PMW Equities Equities & IT
Aladdin Fixed Income
Cube GIPS & IT
Sylvan Utilities Fixed Income, Equity, GIPS & IT
Sylvan AdHoc Tool Equity & IT
Daily Performance Checks Fixed Income, Equity & IT
PM Commentary Front Office & IT
Performance Recon Fixed Income, Equity & IT
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4. Inputs
4.1 SNIP (Sylvan Nightly Import Process)
• Purpose: SNIP is both a database and a process. SNIP grabs daily IBOR1 data along
with monthly returns from PAM2 and Enterprise3 and then uploads this data into
Sylvan Oper4 by creating CSV files. The process is in place to automate the upload
process and store daily returns.
• Business Requirements: Need all IBOR data formatted correctly to be processed
nightly, 7-days a week. SNIP needs to pull PAM and Enterprise holdings and
transactions from Total Company to put into a Sylvan-compatible file.
• Work Flow:

• Frequency: Nightly upload process

• Consumer: After the Sylvan Nightly Import Process is completed and calculations
are done in Sylvan, all the data feeding into SNIP is now accessible via Sylvan Oper.
The data now in Sylvan Oper is used for benchmark comparisons, calculating fee
rates, evaluating performance, along with downstream consumers using the data
for marketing purposes and client reporting.
• Questions/Recommendations:
o What is the new SNIP?
o How will Eagle want to take the data and what process will create that format?
4.2 Index Load
• Purpose: Need index data in Sylvan Oper so portfolios and composites can be
compared to an appropriate benchmark for investment performance comparison
purposes.

1
IBOR- consists of the transaction ESDL, holdings ESDL, Fx Rates, and SMF
2
PAM- accounting system for money that backs insurance liability (everything but mortgages)
3
Enterprise- commercial mortgage accounting system
4
Sylvan Oper- Holds all calculated performance data, risk stats, along with holding internally-made tables
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• Business Requirements: Need all the required indices for Fixed Income, Equity, and
GIPS to be loaded into Sylvan Oper. Currently, the Equity Performance team has two
processes in place that allows them to import their required indices into Sylvan
Oper in two import files (Figure 2 & Figure 1). The Fixed Income Performance team
has three import files that are loaded into Sylvan Oper (Figure 3).
• Work Flow:

Equity Process (1/2)

Figure 1

Equity Process (2/2)

Figure 2
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Fixed Income Processes

Figure 3

• Frequency: Equity loads around 329 indices (daily), Fixed Income loads around 160
indices (daily), and GIPs loads around 12 indices (monthly)
• Consumer: Index data is used in daily and monthly performance reports, in-house
evaluations, along with downstream marketing materials such as factsheets and
presentations.
• Questions/Recommendations:
o Why 2 separate processes for Equity and FI?
o Can Eagle automate the daily index load if it is consistent day-to-day?
o Have either FI or Equity upload the few monthly indices that GIPS needs for
composite performance.

4.3 External Source Returns and AUM

• Purpose: Performance team member manually loads monthly returns and aum from
external parties as needed. Covers anything not coming from SNIP. Must be
converted from foreign currency to USD before Sylvan upload.
• Business Requirements: Need portfolio and/or composite level returns and aum
that are calculated by external parties to be loaded into Sylvan Oper to further
disseminate across the PGI organization for marketing purposes.
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• Work Flow:

• Frequency: Monthly
• Consumer: PGI uses external sources for marketing purposes along with doing
internal calculations needed by the external funds and boutiques
• Questions/Recommendations:
o Is this information still needed by consumers?
o Do we need to separate tasks/funds to spread work-flow?
o Is there potential to automate the process?
o Having data loads directly through ESDLs into Sylvan could potentially be a way
to streamline this process.
o Use the SNIP process (or something similar) to load the returns so there is
just one upload process for all returns/What is the reasoning for not using
the same process for external vs. internal returns?

4.4 PAM/ Enterprise

• Purpose: PAM and Enterprise are the two accounting systems that load monthly
holdings and transactions into Sylvan Oper. Enterprise is the accounting system
used for commercial mortgage accounts and PAM is the accounting system used for
the general accounts (everything except commercial mortgage). These accounting
systems hold the main insurance-backed assets for Principal.
• Business Requirements: Need PAM and Enterprise’s holdings and transactions to be
loaded into Sylvan Oper for performance calculation that will be used in ROR
Aggregator5 for internal use.
• Work Flow:

5
ROR Aggregator- Rate of Return; breaks down portfolios to asset class to show returns
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• Frequency:
o PAM- Monthly
o Enterprise: Daily (bond/mortgages) and monthly (commercial mortgage)
• Consumer: Regarding PAM and Enterprise’s relationship with Sylvan Oper, the only
system pulling these returns out of Sylvan Oper is the ROR Aggregator. The ROR
Aggregator breaks down these returns to a security level. This data is used almost
exclusively for internal purposes. Marketing might use PAM and Enterprise data in
ROR infrequently if a potential client requests returns on a specific security that is
not in Eagle.
• Questions/Recommendations:
o What is Eagle Performance capable of providing? Maybe this process can be
condensed to loading holdings and transactions into Eagle Performance.
o How can we automate this? Can/should this be a daily job?
o Can PAM/Enterprise be separated from the SNIP process and fed directly into
the new system? /Why do they have to run through two databases (TXP and
SNIP)?

4.5 Fee Tool

• Purpose: The Fee Tool sets up the composite and portfolio fee schedules.
• Business Requirement: Need Eagle to calculate composite returns with specific
carve-outs or sleeves with the appropriate fee schedule.
• Work Flow: How is SNIP involved? -Sent Tonya follow-up email, will update
accordingly.
• Frequency: Daily for portfolios, monthly for composites
• Consumer: Used for client reporting
• Questions/Recommendations:
o Is the Fee Tool just setting up the calculation-connections for Sylvan calculation
or does it actually calculate the fees?
o Documentation for future consideration:
o \\pgidsmsharecl1.principalusa.corp.principal.com\share\Alldepts\PROJECTS
\~FixedIncome\CompositeNet Returns
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5. Outputs

5.1 Cube
• Purpose: The Performance Cube (which is a fancy excel picot table) is sourcing
composite related portfolio and index data from Sylvan through Clnt_Hub which
allows marketing and other Performance Cube users to self-service the composite
related data by using the Excel pivot tables for marketing purposes. The cube allows
users to organize data and adjust time-periods, risk stats, and benchmark
comparison based on marketing needs.
• Business Requirements: The Performance Cube has over 600 nested time periods
and risk stat calculations embedded in a separate table behind the scenes. See
Addendum 1 for further details.
• Work Flow:

• Frequency: The whole process happens every night.

• Consumer: The Performance Cube is supported by the GIPS team from a business
perspective and mainly used by the GAM IAS Cube Users mail ID which includes
folks across the various boutiques, marketing, RFP and database teams to pull
composite performance to include in various marketing materials.
• Questions/Recommendations:
o Will the Performance cube still be needed after Sylvan is replaced with Eagle?
o Can the 600+ calculations done in the Performance Cube Table be done in
Eagle?
o Things we need to test when replacing Sylvan with Eagle: Factsheets, Composite
Reports, Performance Cub, John Walker, Tagetik (fees), and PM Commentary
relationship.
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5.2 Performance Recon

• Purpose: This daily recon process checks for cash breaks. For example, since
corporate actions don’t have a cash value to them, this recon will catch this, and
further action will take place once the breaks are found (a.k.a. cashless
transactions).
• Business Requirements: Need a process that can help identify breaks in cashless
transactions.
• Work Flow: All data that flows through performance recon comes from Sylvan Oper.
• Frequency: Daily checks
• Consumer: Internal check
• Questions/Recommendations:
o How will eagle performance behave and will it be able to automate this job for
us?
o What is the full list of any cash breaks that would show up in the recon?

5.3 FactSet
• Purpose: Used for monthly Sylvan → FactSet and Sylvan →OMS
o Loads daily Sylvan returns into FactSet (automated process)
• Business Requirement: Need data from Sylvan Oper to be loaded into FactSet every
day for equity performance analysis.
• Work Flow: Sylvan Oper to FactSet
• Frequency: Pulls returns daily
• Consumer: In-house/reporting tool
• Questions/Recommendations:
o How to get daily returns from new source to FactSet?
o Is there a way to get returns without having to go through another DB?

5.4 Sylvan Utilities

• Purpose: The purpose of Sylvan Utilities is to link specific indices/benchmarks to
specific portfolios to set up comparative performance calculations
• Business Requirements: Need a way to set up a link between a benchmark/index to
a portfolio/composite
• Work Flow:
• Frequency: Used as needed. If a client or PM needs to update or change a portfolio
compared benchmark(s), the linkage must be done in Sylvan Utilities.
• Consumer: Mainly used for marketing purposes and AdHoc requests
• Questions/Recommendations:
o Can Eagle set up the linkage between a portfolio and benchmark internally?
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o For consistent daily performance reports, could these connections be set up

before returns are even in Sylvan as to automate the process for some of the
consistent connections?

Set up index-composite/portfolio
link

5.5 Sylvan Ad Hoc Tool

• Purpose: 12 macros used to initiate various daily functions
o Perf Analysis: Data is pulled from sylvan into daily performance checks. This is
the final step in the performance check process.
o Daily Equity: Sends daily performance returns to PGI
o Save Performance Analysis Data: Saves performance analysis data
o Save & Mail Daily Equity Reports: Saves and Mails Daily Equity Reports
o Edge Reports: Sends daily performance reports to PGI (Edge portfolio specific)
o Currency Ports Daily Holdings & Transactions:
o Format FTSE File: Anything in Bloomberg they use converts to dollars. Pulls FX
rates from Sylvan.
o Sylvan Performance:
o Benchmark Currency:
o Update Equity Contributor File: uploads information from sylvan and creates a
new file
o Create New Reporting Group: creates a report that has custom portfolios and
benchmarks - after button is hit, the rest is done in sylvan utilities
o Load File:
• Business Requirements: Need a system connected to Sylvan Oper that can create
daily reports, automate the daily report emails, along with setting up performance
checks.
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• Work Flow: Data is pulled from Sylvan Oper and then used for sending daily
performance information
• Frequency: AdHoc tool used daily.
• Consumer: Internal daily performance returns along with the external sources
whom Principal sends returns.
• Questions/Recommendations:
o Go through each button, do we need this button still?
o Set up a system that is connected to an existing database that stores daily
returns and automate some, if not all, of the daily AdHoc buttons.

5.6 Aladdin
• Purpose: Aladdin is the Fixed Income analytic tool that is used for performance
attribution analysis. The data used in Aladdin comes from the Eagle accounting
system.
• Business Requirements: Need Fixed Income holdings loaded into Aladdin (Sylvan
Oper not part of this initial loading process). Currently, Aladdin pulls the required
data from Eagle ESDL’s nightly (automated), which. Sylvan Oper plays only a small
direct role with Aladdin which is Aladdin pulling monthly data from Sylvan Oper.
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• Work Flow:

• Frequency: ESDLs feed Aladdin daily, Sylvan Oper feeds Aladdin monthly.
• Consumer: The data analysis that is done in Aladdin is used for client reporting,
factsheets, RFPs, and internal evaluations.
• Questions/Recommendations:
o Currently, Fixed Income sends requested data that has been calculated in
Aladdin to downstream consumers such as marketing teams or PMs.
o Problem: Data in Aladdin must go through a complicated database transfer
process for more downstream usage.
o Consideration: Make a connection between the attributions and
calculations done in Aladdin flow directly to a database that can be more
widely accessed by the various teams who rely on this data.

5.7 ROR Aggregator

• Purpose: ROR (Rate of Return) Aggregator breaks down portfolios to the asset class
to show returns. The data that is ROR comes from Sylvan Oper; however, it only
uses data from PAM and Enterprise. ROR is used mainly for internal use for looking
at security level returns.
• Business Requirements: Need a system that pulls holdings and transactions from
PAM and Enterprise to be broken down to asset class and calculate security-level
returns (currently done in Sylvan Oper) for ROR consumption.
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• Work Flow:

• Frequency: Sylvan Oper feeds the ROR Aggregator monthly.

• Consumer: This data is used almost exclusively for internal purposes. Marketing
might use PAM and Enterprise data in ROR infrequently if a potential client requests
returns on a specific security that is not in Eagle.
• Questions/Recommendations:
o What is the point of PAM/Enterprise returns being in TXP?
o What data-modification, if any, is done in SNIP?

5.8 PMW Equities

• Purpose: PMW, or Portfolio Manager Workbench, is a useful tool for PMs and
PMAs.
• Business Requirements: As far as what is required to do in Eagle, there is nothing
necessary needed. Since this tool is designed for front office to see daily
performance for themselves, this tool could be implemented later on in the process.
• Work Flow: PMW currently pulls holdings and transactions from Sylvan Oper
• Frequency: Daily
• Consumer: Front office PMs
• Questions/Recommendations:
o How will PMW pull data from eagle performance?
o Is there a need for this tool in the future?
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Non-Performance Outputs6:
5.9 Finance Fee Management
• Purpose: The finance team uses Sylvan Oper data to calculate and determine
appropriate fees.
• Business Requirements: Need the finance team to access Sylvan Oper data for
client billing purposes.
• Work Flow: Finance teams grab necessary returns from Sylvan Oper and uses this
information to manage and asses client fees.
• Frequency: Monthly
• Consumer: Finance teams for client reporting
• Questions/Recommendations:

5.10 DWH
• Purpose: Stores necessary data for performance, risk stats, and portfolio list
concept. Since the conversion from Portia to Eagle, DWH has been relocated to
TCXP (Total Company).
• Business Requirements: Need Sylvan Oper data to be stored in independent
databases. Currently, Sylvan Oper is responsible for the Portfolio List Manager7. This
is going to be very important to consider future replacement decision. The Portfolio
List Manager ties each account to its respected portfolio.
• Work Flow:

• Frequency: Data flows from Sylvan Oper daily and used as-needed in Vermillion for
reporting purposes.

6
The outputs that rely on relationships (i.e. portfolio-benchmark and/or nested sleeves of portfolios in
composites) that are stored in Sylvan Oper
7
List Concept- Sylvan tells what accounts make up a portfolio
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• Consumer: People in many different departments rely on these databases to pull

information. GIPS needs the data in Clnt_Hub for Performance Cube consumption
and further calculation. Marketing teams pull data from both Clnt_Hub and TXP for
factsheets/reporting.
• Questions/Recommendations:

5.11 PM Commentary
• Purpose: Pulls data from Clnt_Hub and imported indices to look at
portfolio/benchmark relationship.
• Business Requirements: Need PMs to have access to their client’s portfolio
information as well as up-to-date index data in order to provide feedback and
evaluate performance.
• Work Flow:

• Frequency: Commentary is only needed monthly; however, the Client Hub database
is fed from Sylvan Oper daily due to other processes (non-PM Commentary) relying
on Client Hub for data.
• Consumer: Marketing uses for reports/factsheets
• Questions/Recommendations:
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6. Types of Reports

Report Data Unique Time Periods

Equity Gross-Daily Performance Portfolio vs. Benchmark MTD, QTD, 4 Year
Report relationship
Gross Period Returns-Portfolio Portfolio vs. Index relationship 1 3 6 Month, current qtr
W/ Index
DWH Portfolio Risk Stat Report Excess returns, tracking error, 1 3 6 Month, 4 Year
info ratio, Sharpe ratio, std dev,
Jensen’s alpha, beta, r-squared
Net returns only Net returns 1 3 6 Month, current qtr
Gross returns only Gross returns 1 3 6 Month, current qtr
Benchmark period returns Benchmark returns 3 6 Month, 15 Year, current qtr

All-Encompassing Time Periods

YTD, 12 month, 2 3 5 7 10 year, since inception

• Explanation:
o These six reports are only a fraction of the reports Principal sends out daily; however,
the data points and time periods illustrated above remain consistent with most of the
additional daily reports Principal uses.
• Future Consideration:
o It will be important to take inventory of the data points represented in all current
reports and rationalize each report/data points’ functionality and purpose.
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7. Stakeholders

*Big Processes Impacted*

Process Owners (Business/IT) Stakeholders (Teams/People)
SNIP Business Process Owner: Performance • Same as Owners
Teams
IT: Tonya Bowman
Index Loads Business Process Owner: Performance • Client Reporting
Teams • Marketing (presentation, RFP,
IT: Tonya Bowman database)
External Source Returns Business Process Owner: Performance • Same as Owners and
Teams • External Boutiques (Ex. Spectrum,
IT: Tonya Bowman Dublin)
Fee Tool Business Process Owner: Performance • Same as Owners
Team (GIPS-Therese Johnson) • Marketing (presentation, RFP,
IT: Tonya Bowman database)
Cube* Business Process Owner: Performance • Same as Owners
Team (GIPS-Therese Johnson) • Marketing (presentation, RFP,
IT: Kim Dorenkamp database)
FactSet Business Process Owner: Performance • Same as Owners
Team (EQ-Phil Krause) • Marketing (presentation, RFP,
IT: Tonya Bowman database)
• Reporting
Sylvan Utilities Business Process Owner: Performance • Same as Owners
Teams
IT: Tonya Bowman
Sylvan Ad Hoc Tool Business Process Owner: Performance • Same as Owners
Teams
IT: Tonya Bowman
Finance Fee Business Process Owner: Finance Teams • Same as Owners
Management IT: Tonya Bowman • Reporting?
DWH* Business Process Owner: N/A • Same as Owners
IT: Bruce Hansen • Marketing (presentation, RFP,
database)
• Reporting
PMW Equities Business Process Owner: Performance • Same as Owners
Team (EQ-Phil Krause) • Portfolio Managers
IT: Tonya Bowman • Reporting
Aladdin Business Process Owner: Performance • Same as Owners
Team (FI-Mike Polich) • Marketing (presentation, RFP,
IT: Tonya Bowman database)
• Reporting
ROR Aggregator Business Process Owner: Performance • Same as Owners
Team (FI-Mike Polich) • Marketing (presentation, RFP,
IT: Tonya Bowman database)
• Reporting
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8. Open Items
8.1 IT Flow Accuracy Checks (Tonya):
• SNIP
o Fee Tool-specific questions: Is it worth verifying the Fee Tool’s connection with
SNIP?
• ROR Aggregator
• DWH (Bruce Hansen)
• PMW
• Sylvan Utilities
• Sylvan AdHoc Tool
• PM Commentary
• Performance Recon

8.2 Missing AdHoc buttons’ function:

• Sylvan Performance
• Benchmark Currency
• Load File
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Addendum 1

Performance Cube-Data
Composites Time Periods
1-Month Gross and Net Return
1-Quarter Gross and Net Return to Inception
AUM
1YR, 2YR, 3YR, 4YR, 5YR, 7YR, 10YR, SINCE
INCEPTION or SINCE RESTATED INCEPTION,
to Inception
QTD, YTD, CUMULATIVE RETURN, MANAGER
All Other Required Performance Returns TENURE (Performance Returns only)
Risk Statistics to Inception EVERYTHING ELSE

Benchmarks
1-Month Gross and Net Return
to Inception
1-Quarter Gross and Net Return
1YR, 2YR, 3YR, 4YR, 5YR, 7YR, 10YR, SINCE
INCEPTION OR SINCE RESTATED INCEPTION,
to Inception
QTD, YTD, CUMULATIVE RETURN, MANAGER
All Other Required Performance Returns TENURE (Performance Returns only)
Risk Statistics to Inception EVERYTHING ELSE

Underlying Portfolio Data

1-Month Gross and Net Return
1-Quarter Gross and Net Return
from 1/1/2004 Forward
1 year and YTD
AUM
1YR, 2YR, 3YR, 4YR, 5YR, 7YR, 10YR, SINCE
INCEPTION OR SINCE RESTATED INCEPTION,
From 1/1/2004
QTD, YTD, CUMULATIVE RETURN, MANAGER
All Other Required Performance Returns TENURE (Performance Returns only)
Risk Statistics From 7/1/2008 Request from Portfolio teams

Risk Stats available in the cube:

1. Composite and Benchmark (both monthly and quarterly)
• Excess Return
• Composite and Index Standard Deviation
• Information Ratio
• Tracking Error
• Sharpe Ratio (composite only)
• Dispersion (Asset and Equal Weighted)
• Correlation (monthly only)
• Cumulative Ratio
• Up/Down Cumulative Ratios
• Growth of $1 Million (monthly only)
2. Composite Portfolios
• Maximum Return
• Median Return
• Minimum Return
• Return Spread (High to Low)
Risk Stats Not available in the cube:
3. Composite and Benchmark
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• Alpha, Beta, R2, Treynor

• Portfolio Net Returns
• Portfolio Net Returns in Foreign Currency