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The incremental return contribution of the investment managers (formula)

April 28, 2018

Rim = ∑∑ wi * wij * (rAij – rBij)

rAij = the return of the jth manager’s portfolio within asset category i

rBij = the return of the jth manager’s benchmark in asset category i

wi = policy weight assigned to the ith category

wij = policy weight assigned to the jth manager in asset category i

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