The Global Investment Performance Standards (GIPS) have evolved out of the expressed needs of both institutional investors and the firms that service them. But, as you might expect, not everyone is convinced of their applicability in all areas of investment.  The author proposes some cases where GIPS may actually be redundant.

GIPS® and the U.K. Retail Investment Industry
Malcolm Kemp, Scudder Threadneedle Investments Ltd