waldziuchna

I don’t see the carve out aspect since all the portfolios have been managed including a cash balance since inception.. For me, the question actually boils down to what performance data one can include at the initiation of GIPS compliancy.
Is GIPS only possible going forward or also backward?
Many asset manager implicitly manage GIPS compliant portfolios (since the guidelines make a lot of sense). If such an AM decides to become GIPS compliant, he would need to establish composites with the portfolios under management to fully adhere to the standards. Can the AM restate the composites back in the past because the portfolios were actually live and the data is still available?
Unfortunately I didn’t find any recommendation on the topic.
Thanks.