This service calculates a PWER score by applying Cumulative Sum (CUSUM), a standard statistical procedure to detect whether the quality of a process is normal, improving or deteriorating.  PWER is the annual return magnitude that a fund management’s process is expected to outperform peer group funds.  This value is based on the extent to which the most relevant period of past performance appears to have arisen from a combination of skill and luck.  Click Manager Insights button on right to view top decile funds and managers for over 160 different peer groups.