suyer

Q10: It means the portfolio performance before excluded from composite should be kept in the composite calculation
Eg.  If the portfolio ABC entered into composite on 1/1/2009 but excluded from composite on 7/1/09 due to its status changing. The composite performance for the period 1/1/09-7/1/09 should still be included this portfolio performance.  If you calculating the composite performance for the period 1/1/09-7/1/09 without portfolio ABC, it's a retroactively  method and violation of GIPS.