What portfolios go into a composite? I’ve read things saying a GIPS composite includes"
-all portfolios current and past
-all fee-paying portfolios
-all fee-paying, discretionary portfolios
-all actual fee-paying, discretionary portfolios
-all discretionary and non-discretionary portfolios.
I’m pretty sure I’ve read text or practice problems that describe composites as each of the above at some point or another, or maybe my mind is paying tricks on me.
So which is it? What portfolios go into a composite?