GIPS - Less Than Yr Return

CFA Level III
#1

if it is sept 30th 2010 and I am presenting returns…i know I can’t annualize the 2010 return…however can I show YTD sept 30th 2010 results or not? Are you required to show interim results? any help is appreciated.

#2

They can only present annual returns. See LOS 48(l), reporting standards: must show - composite annual returns, - number of portfolios (if 6 or more), - amount of assets in composite, either the % of firm’s total assets represented by composite or amount of total firm assets at period’s end, measure of dispersion of indiv. portfolio returns (if composite has 6 or more)

#3

If you don’t have a complete period, kill it.

#4

Not sure… You have to report the annual performance of your composites, but you CAN still present the quarterly performance of your composite it’s the year has not ended yet. But you are not allowed to annualize it… Check last question on 2010 CFAI Mock…

#5

You can indeed show YTD returns, just don’t annualize it. Example: http://inviewim.com/emails/pdf/InView%20Small%20Value%20Annual%20Performance%20Disclosure%202010.pdf

#6

Will do.On q7 of it now…

#7

You’re absolutely right, it’s an optional component. Apologies, I should have been more careful as composite reporting is one of the GIPS lists I haven’t memorised yet.

#8

thanks all… YTD results it is.