by admin | Feb 26, 2010 | GIPS, Global Investment Performance Standards, IRR
In my response to the Global Investment Performance Standards (GIPS(R)) 2010 edition disclosure draft, I suggested that guidance be provided for fund-of-fund (FOF) managers. The standards clearly apply to such managers, but there weren’t any details offered. The...
by admin | Feb 23, 2010 | GIPS, Global Investment Performance Standards, value at risk
We had to reschedule yesterday’s webinar on VaR (Value at Risk): the new date is Wednesday, March 10, at 11:00 EST. We will hold a second webinar in March to discuss the planned changes to the Global Investment Performance Standards (GIPS(R)) (GIPS 2010). It...
by admin | Feb 18, 2010 | GIPS, Global Investment Performance Standards, Standard Deviation
Let’s address the subject of standard deviation, but not from a risk perspective, but rather as a dispersion measure. Way back in 1997, when the AIMR Performance Presentation Standards (AIMR-PPS(R)) introduced the requirement for firms to disclose a measure of...
by admin | Feb 17, 2010 | GIPS, Global Investment Performance Standards
The CFA Institute announced the release of the newest version of the Global Investment Performance Standards: GIPS 2010. We recommend you get a copy of the new GIPS(R) standards and begin to familiarize yourself with it, as there are loads of changes you’ll need...
by admin | Feb 17, 2010 | GIPS, Global Investment Performance Standards, Madoff
The Global Investment Performance Standards’ (GIPS(R)) latest edition, GIPS 2010, mandates that firms have a written policy to ensure the existence and ownership of client assets (see paragraph 0.A.5). I suggested a few days ago that this was most likely in...
by admin | Feb 12, 2010 | GIPS, Global Investment Performance Standards
If you’re not old enough to remember what undercoating is, I’ll provide a brief explanation. Invariably, if you were going to buy a car 15 years or so ago, the salesman would try to talk you into adding “undercoating.” What was undercoating? It...
