Two Bivio Reports show strikingly different average annual
returns for our club. I don't understand why they are so
different. On the bottom of the Member Performance Report,
it shows an Average Annual Return for all Members that is 6%
lower than the Average Annual Return for all Investments
that shows up on the bottom of the Investment Performance
Report. I note also that the Performance Benchmark Report
uses the lower number to compare to an index (and by that
measure, we have really failed!)

Why is this? Which is a more accurate way of measuring the
club's performance?

Kathryn Berger writes:
> Two Bivio Reports show strikingly different average annual
> returns for our club. I don't understand why they are so
> different. On the bottom of the Member Performance Report,
> it shows an Average Annual Return for all Members that is 6%
> lower than the Average Annual Return for all Investments
> that shows up on the bottom of the Investment Performance
> Report. I note also that the Performance Benchmark Report
> uses the lower number to compare to an index (and by that
> measure, we have really failed!)
>
> Why is this? Which is a more accurate way of measuring the
> club's performance?

The two numbers are different, because they measure different returns.
The Investment Performance Report just measures the annualized return
of you your current investments, not your club as a whole. The Member
Performance is the return of you club as a whole.

It's very good that your current investments are better than your past
ones. It means your Member Performance is going up. Congratulations!

Rob

> I note also that the Performance Benchmark
> Report uses the lower number to compare to
> an index (and by that measure, we have
> really failed!)

The Performance Benchmark Report, by default, shows
performance over the entire lifetime of your club. You can
change the starting date of that report to see if your
club's performance has improved more recently.

-Jim Thomas