SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Calculate and analyse investment performance 
SAQA US ID UNIT STANDARD TITLE
117764  Calculate and analyse investment performance 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6  20 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for persons who conduct administrative functions in the middle and back office in an Asset Management environment.

A person credited with this Unit Standard will be able to:
  • Demonstrate an understanding of the various calculation methodologies in the markets.
  • Apply the relevant methodology to calculate investment performance at various levels for specified periods.
  • Demonstrate an understanding and apply attribution analysis. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Mathematical Literacy at NQF Level 4
  • Communication at NQF Level 4
  • Accountancy or Economics at NQF Level 5.
  • The Unit Standard entitled, "Apply accounting and valuation rules for investment instruments". 

  • UNIT STANDARD RANGE 
    The scope of the Unit Standard covers the following types of investment performances that are to be calculated within the agreed period:
    Types of investment performances calculated:
  • Asset Classes
  • Surveys
  • Attribution Analysis

    Investment performances calculated for the following periods.
  • Monthly
  • Weekly
  • Quarterly
  • Annually 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of the various calculation methodologies in the markets. 
    OUTCOME RANGE 
    Calculation Methodologies such as but not limited to
  • Deitz
  • Modified Deitz
  • Compound
  • Return on Investment
  • Money Weighted
  • Time Weighted 

  • ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Performance measurement is defined as per company defined accepted practices and industry standard. 

    ASSESSMENT CRITERION 2 
    The importance of performance measurement is explained as per defined practice. 

    ASSESSMENT CRITERION 3 
    Different characteristics of performance methodologies are defined as per accepted practice. 

    SPECIFIC OUTCOME 2 
    Apply the relevant methodology to calculate investment performance at various levels for specified periods. 
    OUTCOME RANGE 
    Levels at which investment performance is calculated:
  • Asset
  • Sector
  • Class
  • Portfolio
  • Group
  • Unit
  • Fund 

  • ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Simple rate of return calculation is performed as per the defined formula. 

    ASSESSMENT CRITERION 2 
    Cash flow impacts on returns are applied as per defined formula. 

    ASSESSMENT CRITERION 3 
    Internal rate of return calculation is performed as per defined formula. 

    ASSESSMENT CRITERION 4 
    Money and time weighted return calculations are performed as per market formula. 

    ASSESSMENT CRITERION 5 
    Compounding and annualising calculations are performed as per market formula. 

    ASSESSMENT CRITERION 6 
    Gross and net returns are defined and calculated as per market formula. 

    SPECIFIC OUTCOME 3 
    Demonstrate, understand and apply attribution analysis. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Attribution analysis is defined as per general accepted market practice. 

    ASSESSMENT CRITERION 2 
    The impact of the allocation, selection and currency effect is explained with regard to attribution analysis. 

    ASSESSMENT CRITERION 3 
    Attribution analysis calculations are performed as per accepted industry practice. 

    ASSESSMENT CRITERION 4 
    Calculations are verified for any discrepancies to ensure accuracy. 

    ASSESSMENT CRITERION 5 
    Performance deviations are explained against the set benchmark. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Various methodologies relating performance calculations
  • Selection, application and interpretation of results 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems by identifying the relevant methodology to use when calculating investment performances 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively in order to determine the information required when calculating investment performances and attribution analysis. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information required when calculating investment performances, and attribution analysis. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using mathematical skills when calculating investment performances, and attribution analysis. 

    UNIT STANDARD CCFO SCIENCE 
    Use technology effectively to calculate investment performances, and attribution analysis. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognizing that problem-solving contexts do not exist in isolation to verify calculations for any discrepancies with other people. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Supplementary information:

    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms". ISBN 1-919850-04-X 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  50481   National Certificate: Financial Markets and Instruments  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Azania Currency and Equity Markets 
    2. Chartall Business College 
    3. DC Dali Debt Counsellors 
    4. Duke 
    5. Felix Risk Training Consultants 
    6. Full Value Financial Services (Pty) Ltd 
    7. Injabulo Home Grown Learning and Development Solutions 
    8. Lotus Academy Pty Ltd 
    9. Maharishi Invincibility Institute NPC 
    10. Octopus Training Solutions 
    11. The Academy of Financial Markets 
    12. The Facilitation Workshop 
    13. The Institute of Literacy Advancement 
    14. UCS Education and Training Services (Pty) Ltd 
    15. Welltec Academy (Pty) LTD 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.