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GIPS Compliance

GIPS Compliance

How to Update your GIPS Policies & Procedures for GIPS 2020

If you are an investment firm or asset owner that complies with the GIPS standards you are required to make some modifications to your GIPS policies and procedures (“P&P”) to address changes made to the 2020 edition of the Standards. The extent of these updates depends on: whether your organization plans to adopt any new […]
GIPS Compliance

How to Comply with the 2020 GIPS Standards

A new decade is upon us and with the new decade comes a series of new requirements in terms of investment performance reporting for firms and asset owners that elect to claim compliance with the GIPS standards. Many organizations have elected to adopt the 2020 edition of the GIPS standards early and have already put […]
GIPS Compliance Investment Performance

Investment Performance Outlier Testing

For any firm that aggregates portfolios of the same strategy into a composite, or otherwise groups portfolios by mandate, how do you know that each portfolio truly follows that strategy? The answer is outlier testing. Why Utilize Composites? The GIPS standards require firms managing separate accounts to construct composites, which aggregate all discretionary portfolios of […]
GIPS Compliance

GIPS Compliance Actions for the New Year 2020

Your firm works hard to comply with the Global Investment Performance Standards (GIPS®) and likely expects the benefits of GIPS to far outweigh any burden associated with maintaining compliance. Most of the policies and procedures your firm set when first becoming compliant will never need to change; however, as both the standards and your firm […]
GIPS Compliance

2020 GIPS Standards: Prepare for the Changes

The 2020 edition of the Global Investment Performance Standards (“GIPS®”) was released to the public at the end of June 2019 and with it comes a number of changes that firms will need to address. To maintain compliance with the GIPS standards, firms must make the required changes necessary to follow all requirements of the 2020 […]
GIPS Compliance

GIPS 2020: What’s Changing and What You Should Do (Updated July 2019)

It has been a busy couple of weeks for GIPS! On August 31st, the Exposure Draft of the 2020 Global Investment Performance Standards (GIPS®) was released for public comment and last week (September 14th and 15th) was the GIPS conference. With this exposure draft being released only two weeks before the conference, the forthcoming changes to […]
GIPS Compliance

How to Advertise as a GIPS Compliant Firm

Most GIPS compliant firms are aware of the requirement to provide their compliant presentations to prospective clients, but it can be a little confusing how to reference GIPS in other materials. It is important to remember that you should never just casually reference your firm’s GIPS compliance without considering what disclosures are required to accompany […]
GIPS Compliance

Creating GIPS Compliant Presentations

Firms that are GIPS compliant are required to provide all prospective clients with a GIPS compliant presentation. Typically, each composite has its own separate one-page sheet that includes all the statistics and disclosures required for that composite. This one-page sheet can be attached as an appendix to your firm’s pitchbooks and other marketing materials to […]
GIPS Compliance Investment Performance

How to Construct Composites

GIPS compliant firms are required to calculate and present composite performance, rather than presenting the performance of a model or single representative account. The purpose of this is to ensure investment managers are presenting an accurate representation of their ability to implement a strategy, rather than “cherry-picking” their best performing portfolio. As discussed in our […]