GIPS (On Page 182, Book 5 of Schweser) all, 2010, beginning, comment, periods

mp3bu

Hi, all!
about Calculation Methodology (Standard 2.A.2.);
Schweser says;
Standard 2.A.2.
For periods beginning Jan 1, 2010, firms must value portfolios on the date of all large external cash flows.
In calculating the performance of the portfolios within a composite, the GIPS require firms to use TWRR, computed using MINIMUM OF MONTHLY VALUATIONS and adjusting for cash flows.
this “using MINIMUM OF MONTHLY VALUATIONS” is right??
I can’t find such a comment in GIPS..
anyone can help me?

bkballa

At minimum, monthly valuations.