More GIPS - presentation recommendation different, presented, reading, monthly, returns

burning0spear

May be it is late, but reading this stuff, someone tell me how the recommendation 5.B.4 and 5.B.5 are different. All I can see is that one states using monthly returns, but how else would you annualize it? using daily returns, hello~.
5.B.4 For each period for which an annualized EX-POST STANDARD DEVIATION of the COMPOSITE and the BENCHMARK are presented, the corresponding annualized return of the COMPOSITE and the BENCHMARK SHOULD also be presented.
5.B.5 For each period for which an annualized return of the COMPOSITE and the BENCHMARK are presented, the corresponding annualized EX-POST STANDARD DEVIATION (using monthly returns) of the COMPOSITE and the BENCHMARK SHOULD also be presented.

eoin

Perhaps this is the language of “Standards”.
1) The two are only recommendations;
2) No specific date like 1/1/2011;
3) Ex-post SD and the corresponding annualized return always go together.
Correct me if I’m wrong.