How every number is measured
The conventions behind every performance figure on this site and in AlphaBlock materials. Where a figure departs from these conventions, it says so where it appears.
Live, historical and modelled
Live figures come from portfolios run under licence by a regulated manager, with capital at risk, measured from the first rebalance date. Historical figures come from implementations that ran live and have since closed; they are shown for their actual period only. Modelled figures are hypothetical back-tests, before costs, and are labelled as such wherever they appear. The three are never combined into one figure without saying so.
Gross and net
Figures are stated gross of management and performance fees unless marked net. India PMS figures are gross of fees and are additionally published net by the manager; net returns to an investor are lower. Nasdaq index values are price or total return as stated by Nasdaq and carry no fees. Modelled figures are before transaction costs.
Currency
Each strategy is measured in the currency of its benchmark: USD for US and global strategies, INR for India, RON for Romania, CAD for Canada. No currency conversion is applied to a strategy figure. Where strategies in different currencies are aggregated, the aggregate is of local-currency excess returns, not of converted absolute returns.
Benchmark and excess return
Each strategy’s benchmark is the index it was built from, as named in its specification. Excess return (alpha) is the strategy’s annualised return minus the benchmark’s annualised return over the same dates, stated in percentage points per year and written as a percentage (for example “+7.42% excess return”). Tracking error is the annualised standard deviation of the difference in periodic returns.
Calculation agent
Nasdaq calculated and published the RMIVG 20 (2014–2021). Live mandate returns are calculated and published by the regulated manager; India PMS figures are independently tracked by PMS Bazaar. The Morningstar category ranking cited for the Toronto mandate was calculated by Morningstar. AlphaBlock calculates the aggregates (the +6.78% weighted alpha, the +4.59% simple average, the 10-of-13 count) from those underlying records and states this where they appear.
Aggregates
The headline weighted alpha weights each mandate’s annualised excess return by its years of record. The simple average weights each mandate equally. Both cover the 13 E&R mandates in the record (2 SEBI PMS, 8 licensee, 3 historical), 2004 to October 2026. Mandates that have closed are included for their actual period; none are excluded for performance.
Dates and updating
Every figure carries an as-at date. Live figures are updated quarterly after the manager publishes. The record cut-off for the current site is October 2026 (the Nasdaq and BT Energy records are closed and do not update). Figures are not restated; if an error is corrected, the correction is dated in the change log.
What is not shown
AlphaBlock manages no fund, so no AlphaBlock fund return exists. Figures for strategies that have not run live are modelled and are shown only on pages that say so. No figure is shown for a period shorter than twelve months except the illustrative pay-for-alpha example, which is marked illustrative.