GIPS

Question 1

Why were the GIPS standards crated?

Answer 1

Promote ethics and integrity and instil trust

Question 2

Who can claim GIPS compliance?

Answer 2

Any firm that manages actual assets

Question 3

What are the two options regarding GIPS compliance

Answer 3

Fully comply or not comply

Question 4

What are key concepts of the GIPS

Answer 4

-they are ethical standards
-it takes more than just the bare minimum to meet the fair representation objectives
-firms should comply with all applicable requirements
-they do not address every aspect of performance measurement
-it requires firms to create and maintain composites for all strategies for which the firms manages segregated accounts
-Certain methodologies are required to comply with GIPS