Performance Calculation and Appraisal of Alternative Investments (2025 Level I CFA® Exam–Module 2)

Learn how to measure and interpret the performance of Alternative Investments for CFA Level I. We cover why appraisal is tricky for alts, and how to use key risk adjusted metrics and fee math correctly. What you will learn • Challenges in AI performance appraisal: illiquidity, transparency, non normal returns • Sharpe vs Sortino ratios • Calmar and MAR ratios, drawdowns • MOIC and holding period concepts • 2 and 20 fees, high water mark, before fee vs after fee returns Study with AnalystPrep: Level I: https://analystprep.com/shop/cfa-leve... Level II: https://analystprep.com/shop/learn-pr... Levels I, II & III (Lifetime access): https://analystprep.com/shop/cfa-unli... Prep Packages for the FRM® Program: FRM Part I & Part II (Lifetime access): https://analystprep.com/shop/unlimite... Topic 9 – Alternative Investments Module 2 – Performance Calculation and Appraisal of Alternative Investments LOS : Describe issues in performance appraisal of alternative investments. LOS : Calculate and interpret returns of alternative investments on both before-fee and after-fee bases. #CFA #CFAExam #CFALevel1 #AlternativeInvestments #SharpeRatio #SortinoRatio #CalmarRatio #Drawdown #MOIC #HedgeFunds #PrivateEquity #InvestmentPerformance #AnalystPrep