In This Edition:

- A brief history of performance ratios
By Simon Taylor, Consulting Editor

- Greek alphabet soup and risk-adjusted performance
By Arun Muralidhar, Chairman, Mcube Investment Technologies, LLC and Managing Director, FX Concepts, Inc.

- 'Sharper' Risk Adjusted Performance Measures (RAPMs): from Omega to AIRAP
By Milind Sharma, Director and Senior Proprietary Trader, Deutsche Bank.

-The case for the Omega function
By Con Keating, Financial Analyst, Finance Development Centre.

- Maximum drawdown of active currency indices
By Emmanuel Acar & Amy Middleton, Bank of America

- Funds of funds are still providing alpha
By Jean-François Bacmann & Pierre Jeanneret, Quantitative Analysis Group, RMF Investment Management,

- HFR fund of funds performance analysis

- References and further reading