GIPS® Standards Provisions Specifically Tailored to Asset Owners Asset owners have always been able to claim compliance with the Global Investment Performance Standards (GIPS®) if they have discretion over their assets. Historically, however, the GIPS standards focused on firms that manage assets for clients and compete for business, making it challenging [...]
What is a GIPS® Standards Verification for an Asset Owner? Verification is a process by which an independent verifier conducts testing of an asset owner on an asset owner-wide basis in accordance with the required verification procedures of the Global Investment Performance Standards (GIPS®). A verification tests whether an asset owner’s [...]
What is a GIPS® Standards Verification for Firms? Verification is a process by which an independent verifier conducts testing of a firm on a firm-wide basis in accordance with the required verification procedures of the Global Investment Performance Standards (GIPS®). A verification tests whether a firm’s policies and procedures for [...]
SEC Proposes Changes to Advertising and Solicitation Rules WHAT HAPPENED? On Nov. 4, 2019, the Securities and Exchange Commission released proposed amendments intended to modernize the advertising and solicitation rules under the Investment Advisers Act. After several decades of unchanged rulemakings, the Commission is in the process of amending the outdated [...]
10 Steps You Can Take to Get Your Presentations Ready for the 2020 Edition of the Global Investment Performance Standards (GIPS®) Have you considered adopting the 2020 edition of the GIPS standards early? For some firms, it may not be as challenging as anticipated and might make sense to do this [...]
Enabling Firms to Present Pooled Fund Specific Performance With the 2020 edition of the Global Investment Performance Standards (GIPS®), firms are now able to present pooled fund specific performance. The changes pertaining to pooled funds were made to better accommodate the marketing of pooled funds. The hope is that more [...]
Ability to Once Again Allocate Cash to Carve-Outs The 2020 edition of the Global Investment Performance Standards (GIPS®) was released by CFA Institute on June 30, 2019, and it includes a significant change with respect to carve-outs. Prior to January 1, 2010, firms were allowed to include carve-outs with allocated [...]
2020 GIPS® Standards Expand Ability to Use Money-Weighted Returns The 2020 edition of the Global Investment Performance Standards (GIPS®) was released by CFA Institute on June 30, 2019. One of the key changes to the GIPS standards is the expanded ability to use money-weighted returns versus time-weighted returns. In the [...]
2020 GIPS® Standards: We Have You Covered WHAT HAPPENED? On June 30th, 2019, the 2020 edition of the Global Investment Performance Standards (GIPS®) will be released. Anticipated updates to the GIPS standards include: Expanded ability to use money weighted returns versus time weighted returns Enabling firms to present pooled fund [...]
Composite Minimums: Common Issues Firms have the option to specify a minimum size for composite inclusion. The purpose for establishing a composite minimum is to help define discretion, i.e., a firm feels it needs assets of a certain size to be able to fully implement the strategy. Since these composite [...]