Ethics - GIPS (Negative Disclosure?)

Hi all,

I came across a question relating to a investment portfolio and how it does not use leverage. Under GIPS you do not need to make negative disclosures (i.e. This portfolio is not leveraged). Given that, I assume you must positively stat factors that do apply for portfolios? i.e. Leverage, Products, Markets?

Or have I read too much into this?