GIPS SMA问题 purpose, present, intended, business, includes

Makavelim3

条款中有这么一条说明
  
When firm present composite performance that includes only that sponsor’s wrap fee/SMA portfolios
a.   Name of the wrap fee/SMA sponsor
b.   If the sponsor-specific composite complaint presentation is intended for the purpose of generating wrap fee/SMA business and does not include performance net of the entire wrap fee, the compliant presentation must disclose that the named sponsor-specific compliant presentation is only for the use of the named wrap fee/SMA sponsor

不是很理解，望老师能解释一下这条指得是哪类场景，在什么情况下无需披露performance，辛苦～

apf薛老师

意思是如果公司的一个composite是只是包含了一个特定sponsor的账户的业绩的话，而且这个composite是用来向sponsor争取业务的（已经是客户了，再争取新业务）并且不是报告扣除了wrap fee后的业绩的话，那么这样的composite在使用的时候要特别标明（强调作用）是用来特别向该指定客户展示用的。