GIPS: Carve-out

CFA Level III
#1

Can somebody please explain what the GIPS is a carve-out… in plain english? Thanks

#2

use search on AF Lvl III

#3

Dude the book explains it in plain english.

#4

I have a balanced portfolio, 60% equity, 35% fixed income, 5% cash. I want to include the equity portion in an equity composite. That’s a carve out. I’m carving out 60% of my portfolio to include in an equity composite.

#5

Thanks bpdulog. Was having similar confusion to CFASniper but you cleared it up.

#6

CFAphoenix Wrote: ------------------------------------------------------- > Thanks bpdulog. Was having similar confusion to > CFASniper but you cleared it up. BTW, I don’t know the details surrounding this, but the composite needs to have a separate cash account. Not sure if it’s an actual cash account or a carve out of the existing cash account.