Steadyhand Investment Funds

Steadyhand is a Canadian investment management firm that offers a family of five low-fee funds with an investment philosophy of concentrated portfolios. From a performance calculation perspective, our clients only hold our funds, and we do not handle client cash in their accounts. Account performance is reported to clients over periods of 3 months, 1 year, 2 years, etc., up to "since inception": We calculate and store the RoR for each account on a monthly basis; however, we don't store the RoR directly. Instead we use an approach based on cumulative unit values ("CUV"), sometimes also referred to as an 'index of performance'. As the name implies, the CUV is a cumulative number reflecting the performance of the account since inception. On the date of the first trade in the account, we set the CUV=100. For each subsequent month, the CUVend = CUVbeginning * RoRmonth. Since the CUV is cumulative over a range of time, the total return over any time period can be determined by the formula: RoRperiod = (CUVend/CUVbeginning) - 1. As the name implies, the CUV is a cumulative number reflecting the performance of the account since inception. On the date of the first trade in the account, we set the CUV=100. For each subsequent month, the CUVend = CUVbeginning * RoRmonth. Since the CUV is cumulative over a range of time, the total return over any time period can be determined by the formula: RoRperiod = (CUVend/CUVbeginning) - 1. Our system is going to calculate the RoR for each month and then use that to calculate the CUVend for each month, and store the results in the database, looking something like this: ACCOUNT DATE CUV