Still a work in progress ‘Work in progress’ is a common caveat across the buy side, and nowhere is it more pertinent than for fixed-income performance measurement and attribution. Issues of methodology and data management have hindered efforts by manager

The wait for fixed-income performance measurement and attribution tools on a par with those on the equities side has been a long one, and for good reason - challenges of pricing, market data, and methodologies have loomed much larger for fixed-income managers than for other, simpler asset types. That does not mean efforts have been bogged down since BST's predecessor Hedge Fund & Investment Technology last examined the issue in 2005, but the proverbial haul clearly remains long.

The difficulties