FAQ About Us
Q. what does Performa do?
Q. where is Performa based?
Q. how long have Performa been operating?
Q. who are Performa's clients?
Q. who works for Performa?
Q. in which countries do Performa operate?
Q. what is Performa doing next?
Q. what's involved in a Performa software implementation?
Q. how long does a system implementation take?
Q. how does Performa handle global software implementations?
Q. what is the cost of product ownership?
Q. are there any upgrade costs?
Q. do you have a user group?
Q. do you have any reference sites?
Q. how do you deal with system problems?
Q. can you supply verification services?
Q. how long does the GIPS verification process normally take?
Q. what is the difference between AIMR-PPS and GIPS?
Q. how does Performa guarantee that your systems keep up with GIPS guidelines?
what does Performa do?
Performa focus solely on providing an efficient and cost-effective solution to assist investment managers in achieving GIPS compliance. Using our extensive market experience, we have developed a comprehensive multi-platform business package, comprising software tools and professional consultancy, designed to ensure investment managers achieve and maintain compliance efficiently and successfully.
where is Performa based?
Performa is based in London, with offices in the City of London and in Central London.
how long have Performa been operating?
Performa was established in 1999 by a group of investment performance specialists.
who are Performa's clients?
Please refer to our client list
who works for Performa?
Performa benefits from a set of staff with strengths that support the five domains of strategy, technology, creative design, program management and operations and infrastructure support. Performa prides itself on the high quality of experienced individuals within the company.
in which countries do Performa operate?
Performa software has now been implemented in over 15 countries around the globe.
what is Performa doing next?
From a software perspective, we are continually enhancing and improving our product suite. The flexibility of product suite, however, provides the scope to move into other areas of Investment Management and we are always looking for ways in which business processes may be improved, or even revolutionised. From an operational perspective, the company has plans to expand its reach internationally through the opening of new regional offices around the globe.
what's involved in a Performa software implementation?
There are five key stages to be carried out to meet a full system implementation. These stages are:
1. Data Gathering
2. Software and Database Installation
3. Training
4. Data Load 5. Automation
how long does a system implementation take?
Due to the highly flexible nature of the system, a PerformaGlobal system implementation can be done within 1-2 days. From our experience, it is generally the internal data-gathering task, which consumes the bulk of the time at the early project stages.
how does Performa handle global software implementations?
Implementations cover a number of factors as outlined above. We recommend that clients use tools such as Citrix Metaframe or NetSupport so that the PerformaGlobal database can be located in one office, with all other global offices accessing the same database. This, however, is entirely dependent upon the definition of your firm. Clients that wish to define country specific firms can have a local copy of the system installed on-site. We have found global training is best handled by bringing together all users from around the globe to participate in a centralised training day. In this way, operational issues can be raised and addressed within a group environment and dealt with quickly and efficiently. Central policy is also more effectively disseminated via this method.
what is the cost of product ownership?
The PerformaGlobal software solution has a fixed annual license fee. The fee is based upon the number of funds managed and the number of client sites involved. We do not penalise our clients for the on-going necessity of providing additional user access, allowing you to freely make full use of the system throughout your organisation. All training, implementation, upgrade and installation costs are also included with the license fee.
are there any upgrade costs?
Upgrades across the whole product suite occur every six months. These upgrades are included with the annual license fee.
do you have a user group?
Yes. The Performa user group currently meets every 3 months. All clients are encouraged to regularly partake in what invariably proves to be an open, enabling and enlightening meeting.
do you have any reference sites?
Yes. Please contact us at solutions@performa.co.uk for more details.
how do you deal with system problems?
Every client is assigned a dedicated Performa Client Manager at the initiation of the client relationship. All problems - system or otherwise - are promptly managed via the Client Manager. It is his/her primary responsibility to ensure that a resolution is provided within a time frame appropriate to the severity of the issue.
how long does the GIPS verification process normally take?
Performa do not provide a verification service. However, in our experiences with clients, it will be completely dependent upon the size of your defined firm. A typical verification can take approximately 4-6 weeks from the first office visit by your verifier. Thereafter, on-going verifications are normally completed on an annual basis. Most of those will be completed within 2-3 weeks of producing fully supported composite data.
what was the difference between AIMR-PPS and GIPS?
In February 1999, AIMR (now the CFA Institute) issued GIPS to provide a basis for readily accepted and comparable presentations of investment performance without regard to geographic location. GIPS are fundamentally based on the well-established practice of the AIMR-PPS standards, which since May 2001 have been amended and restated as the "AIMR-PPS Standards, the U.S. and Canadian version of GIPS". The principal goal of AIMR was to have all countries adopt GIPS as the standard for investment firms seeking to present historical investment performance. As of April 2006, approximately 30 countries around the world have adopted or are in the process of adopting GIPS or of establishing a local investment performance standard. GIPS requires managers to include all actual fee-paying, discretionary portfolios in composites defined according to similar strategy and/or investment objective and requires firms to show GIPS-compliant history for a minimum of five years (or since inception of the firm or composite if in existence for less than five years). The AIMR-PPS standards, however, required that a firm report ten years of annual investment performance (or since firm inception if inception is less than ten years).
how does Performa guarantee that your systems keep up with GIPS guidelines?
Our seat on the UKIPC provides us with the opportunity not only to keep abreast of the standards, but also to influence their progression. We are also very active in monitoring the CFA Institute website and we are in constant discussion with industry groups as well as the consultant verifiers. We have a quarterly user group which meets to discuss such issues and are constantly striving to promote discussion amongst the peer group. We also have an internal working party that monitors and addresses any changes to the standards. Our client agreement includes a clause stating that we will support all changes to the regulations at no cost to the client. We have also started a Verifier Focus Group comprising all the key verification firms which further expands the knowledge base of the performa community.