Sourcing Benchmark Return Numbers from the Bloomberg Terminal or from the Internet

Submitted by Addy Suhut on Sun, 08/30/2020 - 09:46

To accommodate the 2 types of performance reporting (on a total return basis and on income return basis), 2 types of benchmark return numbers have to be sourced, namely benchmark Total Return and benchmark Income Return.

Generally, both sets of returns are sourced as follows:

  Benchmark Return Type Most Convenient Data Source Alternative Data Source
1 Benchmark Total Return Bloomberg Terminal Index Provider's Website
2 Benchmark Income Return
(or Benchmark Yield)
- Bloomberg Terminal for Listed Equity, Private Equity, Real Estate, Private Infrastructure and selected Money Market benchmarks
- Index Provider's Website for other asset classes^
Index Provider's Website

^ For sukuk, index provider's website has to be used because Bloomberg Terminal does not provide data on Income Return i.e. Coupon Rates, given that the index provider does not provide this data to Bloomberg

The relevant benchmarks by asset classes are shown in the table below, and the checkmark symbols contain links to process guidelines on sourcing the Benchmark Income Return for the relevant asset classes from the Bloomberg Terminal or from the internet. The sourcing process guideline links are listed below by asset classes in rows and by Funds in columns:

  Asset Class & Sub-Asset Class Benchmark Fund I Fund W Fund P Fund T
i Growth Assets          
 a) Listed Equity Dow Jones Islamic Market Emerging Markets Index  −    −  −
    MSCI Emerging Markets Islamic Index    −  √  −
    MSCI World Islamic Index    −  √  √
 b) Private Equity MSCI World Islamic Index + 2.5%    −  −  −
    Absolute Return of 8.7%  −  −  √  −
 c) REITs S&P Global REIT Shariah Index  −    −  −
 d) Private Real Estate FTSE EPRA/NAREIT Global Real Estate Index    −  −  −
    Absolute Return of 5.4%  −  −  √  −
 e) Private Infrastructure S&P Global Infrastructure Index    −  −  −
    SG Private Equity Index (legacy; not in latest policy)  −      −
    Absolute Return of 7.3%  −  −  √  −
 f) Asset Leasing Absolute Return of 5.5%  −  −  √  −
ii Income Assets          
 a) Private Debt Dow Jones Sukuk Investment Grade Index + 2.5%    −  −  −
 b) Sukuk Dow Jones Sukuk Index (ex-Reinvestment)  −      
    Dow Jones Sukuk Investment Grade Index    −  −  −
 c) Money Market Barclays USD 3 Month LIBOR Cash Index  −    −  −
    Bank of America Merrill Lynch 3 Mth US T-Bill Index    −