Services
Outsourced performance, attribution, and risk reporting.
Headwall works as an extension of your investment or operations team. You provide holdings, transactions, and benchmark data; we return a finished, reconciled reporting package on your calendar, with every calculation documented.
Recurring performance & attribution reporting
Investment managers · RIAs · Multi-strategy teams
Institutional-quality reporting without building an in-house performance function. Each period we calculate, reconcile, and review your results, then deliver a reporting package ready for investment committees, clients, and consultants.
Returns & benchmark
- Time-weighted, money-weighted / IRR, and Modified Dietz returns
- Gross and net of fees, with fee treatment stated
- Active return, alpha, and cumulative excess return
- Up and down capture versus benchmark
Risk & appraisal
- Volatility, tracking error, and beta
- Maximum drawdown and downside deviation
- Sharpe, Sortino, Calmar, Treynor, and M²
- Information ratio, appraisal ratio, Jensen's alpha
Attribution
- Brinson-Fachler allocation, selection, interaction
- Cariño-linked multi-period effects with residual disclosed
- Category, sector, or individual-holding depth
- Segment-level contribution to total and active risk
Delivery
- Daily, monthly, or quarterly periods
- Delivered on your reporting calendar
- Validation appendix with every package
Manager and portfolio reviews
Family offices · Wealth platforms · Individual investors
An independent view of how a portfolio or external manager has actually performed. We separate skill from market exposure and test whether value was added against an appropriate benchmark, so your next conversation with a manager starts from evidence.
What we assess
- Returns on a consistent, comparable basis
- Value added versus a suitable benchmark
- Sources of excess return by segment
- Risk taken to achieve the result
What you receive
- Written findings with supporting exhibits
- Questions to raise with the manager
- Disclosed assumptions and data limitations
- Optional review call to walk through results
Benchmark & methodology consulting
Managers · Consultants · Operations teams
Targeted work on the foundations of performance reporting: choosing the right benchmark, designing an attribution framework, or independently checking existing calculations before they reach clients or consultants.
Benchmark selection
- Suitability review against mandate and holdings
- Custom and blended benchmark construction
- Assessment of benchmark-relative risk
Methodology review
- Independent recalculation of reported returns
- Attribution framework design and documentation
- Review of cash-flow and fee treatment
Working together
What we need, and what you get back.
You provide
- HoldingsPeriod-end positions with market values, by account or segment
- Transactions and cash flowsContributions, withdrawals, and trades with dates
- FeesManagement and performance fee schedule or actuals
- BenchmarkIndex or blended benchmark, with segment weights where available
You receive
- Reporting packageDelivered as PDF
- Validation appendixLineage, reconciliation, and formula traces for every figure
- Exception notesData issues and assumptions flagged before release
- ReviewDirect access to the principal who prepared the numbers
Next step
See a sample reporting package.
We will share a full sample built on illustrative data and discuss how it would map to your strategy.