The Global Investment Performance Standards will no doubt have a major impact on the way money managers throughout the world present their performance results to prospective clients. Consequently, The Journal intends to keep readers abreast of relevant events. David Spaulding's article marks the second in this series dealing with global investment standards; the first, and interview with Dugald Eadie of EFFAS and a member of the GIPS committee ran last Summer (Vol. 1, No. 4). We expect to have much more to report in the coming months.