< Please add the ones that are missing. > • Pre-2006 results can claim compliance with 1999 version of GIPS. • Effective date for revised standards is January 1, 2006. • No post Jan 1, 2000, non-compliant performance linked with compliant performance. • Can link pre-2000, but must explain how non-compliant. • Valuation frequency (at least): Prior to Jan 1, 2001 – Quarterly valuations Beginning Jan 1, 2010 – Monthly Beginning Jan 1, 2010 – Monthly and large cash flows • Beginning Jan 1, 2005, use trade date accounting • Beginning Jan 1 2006, all composites must have same beginning and ending annual dates. • Beginning Jan 2010, perform calendar or business month-end portfolio valuations. • Prior to 1/1/2010, disclose whether calendar or business month-end valuations are used. • For periods beginning 1 January 2005, firms must use approximated rates of return that adjust for daily-weighted external cash flows • For periods prior to 1 January 2005, cash flows can be assumed to occur at the midpoint of the measurement period. • Beginning Jan 1, 2006, composite returns must be calculated at least quarterly. • Beginning Jan 1, 2010, composite returns must be calculated at least monthly • Beginning 2006, report the proportion of a single asset class composite that is made up of carve-outs. • Prior to 1/1/2010, disclose how cash allocated to the carve-outs. • For periods beginning 1 January 2010, carve-out returns are not permitted to be included in single asset class composite returns unless the carve-outs are actually managed separately with their own cash balances. • Beginning 1 January 2006, firms must disclose the use of a subadvisor(s) and the periods a subadvisor(s) was used. • Prior to Jan 1, 2008: Real estate assets valued at market value at least every 12 months. • Beginning Jan 1, 2008: Real estate assets valued at market value quarterly. < Please add the ones that are missing. >
Correction: Change the sentence, "Beginning Jan 1, 2010 – Monthly " to “Beginning Jan 1, 2001 - Monthly”
remembering this list is problematic-did anyone come up with a good way to memorize those ?
I’m basically not going to bother - How much of the exam at the most would realistically be based on memorizing a date? I bet it’s less than 1% and how much time would it take you to nail every date mentioned down? Probably way more than it’s worth with the chance that your time spent memorizing is absolutely wasted. Just my view.
you guys are right… this list is not for memorization… In the GIPS material the dates are all over the place… I was not able to get a complete picture of when to do what… its good to have these dates in one place so that you confirm your understanding of the standards and move on… at least thats the way i am going to use this…
Create a timeline with the dates. I did and it helps to see the overall picture of what they are changing and, more importantly, why. You can then tie the “whys” back to the different types of performance measurements.
Seeing as how I don’t have all the time in the world, I’m not going to bother with the dates either…just try and remember what the rules are for the current time. I’m sorry but if CFAI tests us on dates, they have lost all credibility as test givers in my mind.
This is a great list Thanks.
Yeah, I’m not bothering with all the dates either… only the really important ones like: - No post Jan 1, 2000, non-compliant performance linked with compliant performance. as an example. Not enough points to be had in GIPS that this is worth my limited time and brain space.