5 or 6

CFA Level III
#1

Just want to confirm, if composite has less than 5 portfolios, then no internal dispersion on individual portfolio or the number of portfolios in composite disclosure required… Schweser book 1 pg.166 say 6 portfolios… Thanks,

#2

must show dispersion if > 5 accounts (std II.5.A.1) so if 5 or less - don’t need to show (from my notes)

#3

I will try to find it in the text. My notes show less than six on p. 166 for schweser, but the outline at the back of the same book says less than 5.

#4

I got it. CFAI p. 276 Have to include for 6 or more. Therefore can exclude for 5 or less. It appears that the end of book outline (p.241) is wrong.

#5

>=6

#6

I’m going to crush GIPS.

#7

Thanks. I didn’t have the CFAI text with me. Schweser says GIPS will make up at least 5% of the test. With Ethics at 10%, at least we should try to nail the 15%…

#8

FYI, Just checked schweser errata for the page 241 thing. Errata: Page: 241 - Correction Near the top of the page under Presentation and Reporting regarding internal dispersion it should say not required if <6 portfolios. ( Posted: 2009-04-22)