Performance

What is a performance?

The performance of an investment vehicle expresses its percentage change over a given period.

Several types of performance can be distinguished:

Gross performance

For an investment fund, the gross performance is calculated before deducting management fees and any performance commissions.

Net performance

The net performance of an OPC is calculated after deducting all fees and commissions related to management. It is determined based on the net asset values of the OPC.

Performance base 100

Calculation technique used to compare the evolution of values over time. The principle is to set one or more values to 100 at a given date, usually the initial date of the studied period. For example, if the price of a stock was 40 euros in 2000 and 80 euros in 2010, presenting its price as an index "base 100 in 2000" would give an index of 100 in 2000 and an index of 200 in 2010. To compare the evolutions of different portfolios or a portfolio and an index, all can be converted to base 100 in the year 2000 and their changes calculated up to 2010.

Performance annualisée

An annualized performance is the conversion of the performance of an investment with a duration longer than one year into an annual basis. For example, when a mutual fund has had a performance of 120% over 5 years, the annualized performance of the fund is 17.08% (an investment at an actuarial rate of 17.08% per year yields 120% over 5 years).

Calendar performance

The calendar performance is calculated for each year from December 31 of the previous year to December 31 of the past year.

Rolling performance

The rolling performance is calculated from date to date over a specified period. For example, the 1-year rolling performance calculated on June 30 is the performance over the past year since June 30 of the previous year.