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5 Cards in this Set
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GIPS
are? |
Global Investment Performance Standards:
*Voluntary standards - *recommended Industry standard |
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GIPS term
Composite |
Group of individual discretionary portfolios which represent similar investment strategy or objective
*show em all = bad and good* |
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GIPS term
Verification |
3rd party verification showing that:
1. adherence to GIPS 2. Proper procedures iaw GIPS guidelines |
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GIPS term
Objectives (4) (one for each letter) |
1. G = global acceptance of calculations and presentation standards (full disclosure
2. I = Investments reported accuretely 3. P = Promote fair competition among firms 4. S = Self-regulation (globally) |
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GIPS Characteristics
(in a nutshell) |
there are 11 things listed... ummm can boil it down to this:
1. you define your "firm" 2. provide full disclosure 3. include all fee paying (isn't this in the full disclosure) 5 yrs or from conception - add annual performance going forward for 10 yrs (I dun understand this one) 4. Standards of presentation 5. Not false (accurate #'s) 6. contains both required and recomended 7. Show it all (recommended) 8. No partial compliance 9. Local laws prevail - but disclose conflict 10. recommendation may become law 11. supplemental private equity and real estate = asset class |
so - full disclosure in all facets
* no lying or misrepresentation * some crazy 5 - 10 year thingy? *Local laws prevail *Either full adherence or you can't claim GIPS |
