Information
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Audit Title
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Document No.
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Client / Site
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Conducted on
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Prepared by
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Location
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Personnel
Executive summary
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Description of market
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Stock observations
Description of the segment
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Summary of the specific characteristics of the segment
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Review of the segment style
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Review of the segment risk
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Current beta of the segment and explanation
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Beta
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Correlation of the segment with relevant index
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Correlation
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Domestic vs foreign ownership
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Regulatory or legal issues
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Key performance drivers of the market (link to studies and back tests)
Historical review
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Historical valuations (what has driven the valuation trend?)
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Historical PE
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Historical PB
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Historical Earnings - absolute
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Historical earnings growth
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Historical book value
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Historical book growth
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Historical absolute and relative performance
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Price performance of the segment
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Relative price performance of the segment
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Historical beta
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Identify and describe changes in the structure of the segment through time
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Historical style success
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Styles
Market outlook
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Top down drivers
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Outlook for earnings and multiple
Current portfolio
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How does it fit with the outlook and quant scoring?
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Recent performance
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Current weights
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Current Q scores
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Current Best styles scores
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Style improvement
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CTE analysis
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Recommendations
Ideas generation
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Aggregate pool for ideas
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Macroeconomic driven ideas (link to macro work)
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Thematic ideas (link to thematic work)
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Special sits identified
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Q scores
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Q scores
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RCM best styles
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RCM best styles
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In house vote
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In house vote
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Key ideas to pursue
