ACA has served as a consultant in some of the largest investment manager mergers and acquisitions in the world. We have dealt with friendly departures, unfriendly departures, recordkeeping issues, gaps in track records between firms, composite survivor analysis, supplemental information options, and numerous other related issues.
In working with our verification clients, we are often asked our thoughts on best practices for conducting a review of the firm’s GIPS® compliance program. This is the perfect time of year for those who have oversight of the GIPS program to determine if there are any forward-looking changes to make.
The February 2017 edition of Performance Insight covers the similarities of complying with the
rules and requirements of both the SEC and GIPS standards, proposed revisions to the Guidance
Statement on the Use of Supplemental Information, as well many other industry hot topics.
The Global Investment Performance Standards (“GIPS®”) are a set of voluntary, ethical standards developed by CFA Institute in partnership with other organizations worldwide. The creation of the GIPS standards was spurred by a need for prospective investors to be able to make meaningful comparisons of investment performance across multiple managers, for any given strategy. As acceptance of the GIPS standards continues to spread globally, adoption remains especially strong in the United States. Managers that are registered with the U.S.
The greatest risk to GIPS-compliant firms is that performance is not created, reviewed, distributed, and disclosed in a way that fulfills the requirements of the GIPS standards. Having the proper policies and controls in place is crucial to achieving and maintaining GIPS compliance.
Highlights from the 20th Annual GIPS® Standards Conference
The October 2016 edition of Performance Insight covers the 20th Annual GIPS Standards Conference. The conference was held in Boston on September 22-23 with over 400 attendees from more than 25 countries. In this newsletter we include highlights from the following conference sessions:
On August 25th, the U.S. Securities and Exchange Commission (“SEC”) announced penalties against 13 firms for allegedly perpetuating the false performance claims of a third-party investment management firm.
Please join us for a unique and interactive forum in Boston on September 21st, the day prior to the GIPS Standards Annual Conference. This forum is designed to allow attendees the opportunity to network and share best practices with their peers related to their firm's claim of compliance with the GIPS standards. The panel discussion will provide insight and best practice commentary on hot topics in the GIPS industry.
A networking reception will follow.
K&L Gates will be tracking RSVPs for this complimentary event.
The most common question we receive from our GIPS verification clients is, “What do other firms do?” As a result of being asked this question many times, we gathered information about the firms we verify in order to provide answers to commonly asked questions that are based on real data versus anecdotal information.
The most common question we receive from our GIPS verification clients is, “What do other firms do?” As a result of being asked this question many times, we gathered information about the firms we verify in order to provide answers to commonly asked questions that are based on real data versus anecdotal information. We attempt to help firms answer the following questions and many more: