by admin | Jul 14, 2010 | GIPS, Global Investment Performance Standards
I’m conducting a review of a service provider’s performance measurement system. The issue of as-of adjustments came up and they explained that their clients prefer not to see their returns revised because they’d then have to explain why they’re...
by admin | Jul 12, 2010 | GIPS, Global Investment Performance Standards
What is a “balanced manager”? Arguably, they’re a manager who (a) claims some expertise in managing two or more asset classes (e.g., stocks and bonds) and (b) has an ability to adjust allocations across these asset classes. Well, what if the manager...
by admin | Jul 8, 2010 | GIPS, Global Investment Performance Standards
A colleague, when seeing my commentary on the GIPS(R) (Global Investment Performance Standards) use of the aggregate method to derive composite returns, stated “I don’t think this is an issue we should worry about .” Suffice it to say, I disagree....
by admin | Jul 7, 2010 | GIPS, Global Investment Performance Standards
When I posted yesterday’s blog entry, I was only fixated on a simple issue: revaluing a composite for large cash flows from new accounts when using the aggregate method. The GIPS(R) (Global Investment Performance Standards) permit the use of the aggregate...
by admin | Jul 6, 2010 | GIPS, Global Investment Performance Standards
Effective 1 January 2010, GIPS(R) (Global Investment Performance Standards) compliant firms are obligated to revalue their portfolios for large cash flows. A Q&A made it clear that this applies to firms that use the “aggregate method” to derive their...
by admin | Jul 1, 2010 | GIPS, Global Investment Performance Standards
I just got a question from a client. They often bundle accounts into a “household” for reporting purposes. And, it’s the household which actually reflects their strategy; that is, the individual accounts may have pieces of the strategy, but the...