by admin | Jul 16, 2010 | GIPS, Global Investment Performance Standards
The Global Investment Performance Standards (GIPS(R)) now require compliant firms to revalue their portfolios for “large cash flows.” But what does “revalue” mean? Does “revalue” simply mean “reprice”? If it does, then...
by admin | Jul 15, 2010 | GIPS, Global Investment Performance Standards
How many performance standards can you think of? Well, we have (of course) GIPS(R) (Global Investment Performance Standards), the AIMR-PPS(R) (no longer valid), UKIPS (no longer valid), several other country standards (which are no longer valid), the BAI (Bank...
by admin | Jul 14, 2010 | GIPS, Global Investment Performance Standards
We are hearing from firms on a regular basis who want to become compliant with GIPS(R) (Global Investment Performance Standards). More and more hedge funds are showing interest, as well as long only managers and others. While we attribute part of this sudden interest...
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....
