Panoramix Enhances Composite Performance Engine to Include Daily Calculations for Time-Weighted Returns

Panoramix Enhances Composite Performance Engine to Include Daily Calculations for Time-Weighted Returns

New GIPS compliance requirement for daily calculations now integrated into Panoramix’s performance reporting technologies, replacing no-longer compliant ‘Modified Dietz’ approach

Panoramix, an advisor technology platform, has announced the availability of a new, critical GIPS compliance requirement to calculate time-weighted returns on a daily basis vs. the previous Modified Dietz monthly approach.

For many RIA firms, GIPS compliance is key to both their value proposition and for working with various organizations who maintain strict requirements for their investment management firms. Recently, GIPS changed their certification. GIPS now recommends investment managers determine time-weighted returns using daily calculations as the most meticulous method. While GIPS accepts other variable-interval methods based on “significant cash flows,” Panoramix implemented the most precise method available, ensuring acceptability by third-party reviewers and certification specialists.

“GIPS compliance requirements are constantly evolving and we are continually investing in our platform to stay compliant for our RIA clients,” said Chris Hasting, co-founder of Panoramix. “The Modified Dietz monthly method of computing a time weighted rate of return has been the standard for years, however, a more accurate way to determine a time weighted return is to calculate it using daily returns, which requires substantial engineering and software development enhancements.”

Providing daily calculations to stay compliant with GIPS places additional demands on performance reporting systems. Notably, systems need to store significantly more data, and that data lake requires enhanced computer processing capabilities to handle it, to name but two. All this is now available in Panoramix Pro.

Panoramix Pro is a recently enhanced hybrid solution that provides added functionality for advisors looking for basic financial planning, trading, and better GIPS compliance components included with their core reporting and billing technology. By bringing together all these components into one unified system, advisors gain powerful efficiencies by using a streamlined technology solution.

“Combined with our consistently ranking #1 for customer service in the annual T3 Advisor Technology Survey, our new features in Panoramix Pro, and our competitive price points; we are definitely the best value in the industry,” said Hastings. “We look forward to continuing to invest in the platform to make it even more valuable and useful to advisors and their clients.”

To learn more about how Panoramix integrates the latest methods for determining portfolio performance, download our latest white paper.

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