Disclosure

Performance Disclosures

These disclosures accompany every FIBCOS performance publication and apply to every performance statement on this website.

Performance MethodologyRead
Benchmark MethodologyRead
Risk MetricsRead
Research DisclaimerRead

Current status

No FIBCOS Alpha Portfolio has reached live inception. No FIBCOS performance record exists, and nothing on this website should be read as a statement of past FIBCOS performance.

Model size

Every FIBCOS Alpha Portfolio is modelled at a fixed notional base of US$1,000,000. The base is a sizing convention, not a capital commitment: it is identical in every market, so a position weight, a contribution and a portfolio change mean the same thing in Pakistan as they do in Japan, and the 45 portfolios are directly comparable to one another. The base is fixed and illustrative. It does not grow or shrink with performance, it is never restated after the fact, and it is not assets under management — FIBCOS does not manage third-party capital. Returns are reported as percentages measured against a benchmark adopted before inception; the notional base exists so that those percentages have a stated, constant denominator. Where a position value appears in currency anywhere on this website, it is the notional base multiplied by the published weight and carries no more meaning than the weight itself.

Measurement basis

When performance is published, FIBCOS will state, for every reported period: the measurement period, the reporting currency, whether returns are gross or net of stated costs, the benchmark in force, and the portfolio’s position count and concentration at period end.

Costs

Where net returns are reported, the costs deducted will be itemised. Where gross returns are reported, they will be labelled as such alongside the net figure.

Currency

Portfolio and benchmark returns are reported on the same currency basis. Where currency treatment differs from the underlying market, the difference is stated.

Closed positions

Positions exited during a period remain in the record for that period and in the annual review. FIBCOS does not remove closed or unsuccessful positions from historical reporting.

No simulated performance

FIBCOS does not publish back-tested, modelled, simulated or hypothetical performance as a track record. Where interface elements require example values, they are labelled explicitly and never presented in a form that could be mistaken for a FIBCOS result.

Demonstration content

Records marked DEMO on this website exist to demonstrate the interface. They are not FIBCOS research, not FIBCOS Alpha decisions and not FIBCOS performance.

Not investment advice

Past performance, once it exists, will not be a reliable indicator of future results. Nothing on this website is personal investment advice, an offer, or a solicitation to buy or sell any security. FIBCOS does not currently provide investment-management services.