Core cadence
Quarterly Performance
Each quarter compounded from its calendar months, so a quarter can never disagree with the months it summarises.
No reporting periods
Derived, never entered
No quarterly figure is typed into the FIBCOS data layer. Every one is compounded from the monthly record at build time, which is what makes a contradiction between the two structurally impossible rather than merely unlikely.
Report structure
What a quarter states
| Field | Definition | Latest |
|---|---|---|
| Quarter | The reporting period covered. | — |
| Quarter Return | The quarter's calendar months, compounded | — |
| Benchmark Return | Reported as a percentage on a stated currency basis. | — |
| Relative Alpha | Portfolio Return − Benchmark Return, for the quarter | — |
| Since Inception | Reported as a percentage on a stated currency basis. | — |
| Cumulative Alpha | Reported as a percentage on a stated currency basis. | — |
| Maximum Drawdown | Deepest peak-to-trough fall within the quarter | — |
| Months Reported | Fewer than three marks an incomplete quarter, which is stated rather than annualised | — |
Quarterly discipline
01Compounded from the calendar months, never entered separately
02A quarter with fewer than three months is marked incomplete
03An incomplete quarter is never annualised into a full-quarter rate
04Benchmark compounded over the identical months
05Drawdown measured within the quarter, from the monthly series
Archive
Quarters reported
No Reporting Periods
Quarters are published here as soon as a FIBCOS Alpha Portfolio has reported its first calendar month. A quarter with fewer than three months is shown as incomplete.