On November 4th, the U.S. Securities and Exchange Commission (SEC) announced proposed amendments intended to modernize the rules under the Investment Advisers Act related to investment adviser advertisements and payments to solicitors.
Continue Reading2020 GIPS® Standards – Use of Carve-Outs
Under the 2020 GIPS standards, firms are allowed to include carve-outs with allocated cash in composites. This is very positive news as firms often have a desire to demonstrate the performance of sub-strategies that are offered as standalone portfolios or components of multi-strategy portfolios. It is expected that a greater […]
Continue ReadingFirms Must Comply Before They Verify
Complying with the Global Investment Performance Standards (GIPS®) is not a one‐time project that, once completed, can be checked off a firm’s to‐do list and set aside. GIPS compliance is an ongoing process that requires continuous maintenance and updates. Even if a firm receives a third‐party GIPS compliance verification, ongoing […]
Continue ReadingTimeline Revisions for GIPS® 2020
On April 18, 2018, CFA Institute announced some significant developments related to the timeline for GIPS 2020, the next edition of the GIPS standards, as well as the status of several guidance statements that are currently pending adoption. First, it was announced that the development of GIPS 2020 is on […]
Continue ReadingCalPERS Adopts GIPS® standards
CalPERS Adopts the GIPS standards It was recently announced that the California Public Employees’ Retirement System (CalPERS) adopted the GIPS standards. Adhering to the GIPS standards is a voluntary commitment and considered industry best practice for investment performance calculation and presentation. As one of the largest pension plans in the […]
Continue ReadingHow many firms comply with GIPS standards?
More Than 1,650 Firms Now Claim GIPS Compliance Firms that comply with the GIPS standards are required to report to the CFA Institute annually, which allows CFA Institute the ability to track the number of firms that are currently claiming compliance. In an increase from last year, 1,653 firms now […]
Continue ReadingGIPS Pooled Fund Guidance Delayed
Effective Date Delayed for GS on Broadly Distributed Pooled Funds The GIPS Executive Committee has decided to delay the effective date of the Guidance Statement on Broadly Distributed Pooled Funds. The Guidance Statement was scheduled to become effective on January 1, 2018, but the effective date has now been pushed back to January […]
Continue ReadingGIPS 20/20 Update
The 21st Annual Global Investment Performance Standards (GIPS®) Conference was held in San Diego, California, on September 14-15, 2017. A significant focus at the conference was on GIPS 20/20, the next version of the GIPS standards that is currently in development. Two sessions were dedicated to the topic — one […]
Continue ReadingCompliance Framework for Advertising
The U.S. Securities and Exchange Commission (“SEC”) has not outlined many specific requirements related to how historical investment performance results should be calculated and presented in advertisements and other forms of marketing, but they do have several general expectations. Investment advisers registered with the SEC who advertise performance should establish […]
Continue ReadingGIPS EC Rings Nasdaq Closing Bell
In honor of the 30th anniversary of CFA Institute’s investment performance standards (GIPS® and their predecessor, AIMR-PPS®), CFA Institute staff and members of the GIPS Executive Committee (including one of Guardian’s principals, Arin Stancil, shown to the right of center, 2nd row, in the picture above) ring the Closing Bell at […]
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