GIPS - Those nagging questions!
(have searched thoroughly, if anyone can answer it would be much appreciated!)
1. Standard 5.A.3: Firms may link non-GIPS-compliant returns to their compliant history so long as the firms meet the disclosure requirements for noncompliant performance and only compliant returns are presented for periods after Jan 1/2000
Does this basically mean, for thestandard where you have to present the minimum of 5 years of returns or since inception, that you can use non-compliant returns if they are before 2000 to gain compliance (provided you do appropriate disclosures for non-compliant returns)?
2. The famous: must present five years or since inception of returns. After presenting at least 5 years of compliant history, must add annual performance each year going forward up to 10 years, at a minimum.
The way I read this, it means you CANNOT backfill with 5 years of GIPS compliant data. You can only present 5 years of past compliant (or non-compliant pre-2000 with disclosures) data and MUST fill in the remaining five years with “fresh” returns generated each year.
Can anyone give a solid confirmation on either of these? I think nailing these down for good would benefit everyone.
Thanks! |
发表于 2013-4-1 14:45
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