The GIPS provisions for private equity require the vintage year to be presented. Which of the following best describes the vintage year? The vintage year is the year in which: A)
| the first material investment was made. |
| B)
| capital is first drawn down from investors. |
| C)
| the composite was created. |
|
By definition, the vintage year is the year in which capital is first called from or drawn down from investors. |