标题: moving a portfolio from a composite - GIPS [打印本页] 作者: dmrktrading 时间: 2013-4-8 15:17 标题: 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.作者: Houjichasan 时间: 2013-4-8 15:17
Hmmm…the way I understood it is the history has to remain in the original composite no matter what.
Now I will have to revisit this.作者: fishmarket 时间: 2013-4-8 15:18
If portfolio x gets switched from composite A to composite B, I take the “must remain” part to be composite A.作者: pogo 时间: 2013-4-8 15:18
ok. looks like there is some consensus that historical performance remains in Composite A and future portfolio will be reported in the new composite B.
