GIPS -Please help

Need clarifications (1) Carve out portfolios: If it is carved out could it be still included in composite from which it was carved out? Can the same portfolio be included in 2 composites Ethics: Prop Trading: If the invst mgmt firms- proprietary division- is totally independent-does it have to for trades- be done for clients- before acting on any information. As per priority of transactions- client transactions-need to be done before that of firm & its employees.

Sorry for the typo . Regarding Prop Trading i meant that does the division have to execute trades only after it is executed for the company’s clients

  1. portfolio can be included in multiple composite. 2. I would think so

i thought portfolios can only be included in 1 composite.

nope, they can be included in more than one. pretty sure.

Can be more than 1. If I manage a LCV portfolio I can include it in my LCV Composite and my LC Composite.

“at least one” composite

krishna1 Wrote: ------------------------------------------------------- > 2. I would think so If that’s the case the proprietary trading unit will not be independent. I’d say NO — no need to wait til client trades are done. They should not be communicating afterall, right?