Answer to Q 21 in CFA Vol 6 says “GIPS standards do not prohibit a firm from making the change of benchmark retroactive but…” I thought it is a standard and not a recommendation to not change the benchmark retroactively.
Answer to Q 21 in CFA Vol 6 says “GIPS standards do not prohibit a firm from making the change of benchmark retroactive but…” I thought it is a standard and not a recommendation to not change the benchmark retroactively.