The Dates in GIPS are probably more important than we thought...GIPS is an "actively managed" standards...Let's start.
2011/1/1: (fair value and standard deviation)
- The effective date for the 2010 edition of the GIPS standards
- Total firm assets must be aggregate FAIR VALUE of all assets under management.
- All portfolios must be valued in FAIR VALUE and the GIPS Valuation Principles.
- Disclose if the composite's VALUATION HIERARCHY materially diff from recommendation.
- Disclose and describe any known material diff in EXCHANGE RATES or valuation sources
- Disclose the use of Subjective Unobservable Inputs
- Disclose 3-year annualized STANDARD DEVIATION (monthly) of composite/benchmark;
- Or, an appropriate 3-year risk measure for composite/benchmark. Same periodicity.
- RE: Separate income returns and capital returns (geometrically linked).
- RE: Disclose material diff between external valuation and valuation in reporting.
- RE(closed-end funds): when initial period < 1-year, present the non-annualized NET-OF-FEES SI-IRR through the initial annual period end.
- PE: Calculate SI-IRR by using daily cash flows.
- PE: when the initial period < 1-year, present the non-annualized NET-OF-FEES and
GROSS-OF-FEES SI-IRR through the initial annual period end.
- PE: For FUND OF FUNDS: % in DIRECT INVESTMENTS(NOT in fund investment vehicles).
Please add more.
Edited 1 time(s). Last edit at Thursday, April 28, 2011 at 10:08AM by deriv108. |
发表于 2011-7-11 19:09
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