moving a portfolio from a composite - GIPS
“portfolios cannot be switched from one composite to another unless documented changes in client guidelines or the redefinition of the composite make it appropriate. The historical record of the portfolio must remain with the appropriate composite”
“..the Standards do not permit changes to composites to be applied retroactively. To repeat, if a portfolio is switched..the historical record of the portfolio must remain in the appropriate composite”
I have a feeling I am reading too much into this, but when you read appropriate in the two quotes above (p268 vol 6 CFAI text), do you interpret as the portfolio historical performance is in the ORIGINAL composite or the NEW composite? (i get thrown off by the work remain in the second quote)
My gut says that it should be ORIGINAL composite. |
发表于 2013-4-8 15:17
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