by admin | Sep 24, 2009 | GIPS
During this week’s GIPS(R) conference we learned that the GIPS executive committee was wrestling with the term “verification,” which has been part of these standards since 1999 and part of the prior AIMR-PPS(R) since ’93. The problem is that...
by admin | Sep 23, 2009 | GIPS
The long anticipated announcement of the changes to the GIPS(R) standards is beginning to occur. At yesterday’s opening session of this year’s annual GIPS Conference, we learned of some of what is in store for us: these changes will occur in January 2011....
by admin | Sep 21, 2009 | GIPS
The GIPS Annual Conference is this week in Boston. Today, I’m teaching a class on the GIPS(r) standards for the CFA Institute, and then will attend a meeting of the USIPC, the group that represents the U.S. for GIPS. As for teaching these classes, I’ve...
by admin | Sep 17, 2009 | GIPS, time-weighting
Just got a question from a client that I think is worthy of posting. First, is “total return” the “industry standard.” Before answering this, what IS “total return?” Total return simply means that the return includes income. It used...
by admin | Sep 14, 2009 | cash flows, GIPS, time-weighting
I’m reviewing a client’s calculation process and learned that they previously employed a mid-day approach: note that they calculate returns daily but simply assumed that the flows occurred mid-day. I have never liked mid-day for cash flows. Why? As you may...
by admin | Sep 2, 2009 | compliance, GIPS
The comic Dilbert has recently had a few strips that very much relate to our industry: Yesterday’s, for example dealt with establishing industry standards off of Dilbert’s company’s specs (knowing how good his company is, we can only imagine what...
