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GIPS Compliance
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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GIPS Compliance
GIPS 20/20 Consultation Paper
The GIPS Executive Committee (“EC”) is preparing for a full re-write of the GIPS standards, which they are referring to as GIPS 20/20. It is referred to as GIPS 20/20 as it is a “vision” for the future of the standards and because it also is intended to be rolled out in the year 2020. […]
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