I can’t take credit for this since someone anonymously contributed this in the Schweser online class… it’s supposed to be a way to help memorize the 26 required GIPS disclosures, so I thought I’d repost it here in case anyone finds it helpful! The 26 GIPS required disclosures: Some of these rhymes are a stretch, but here goes… A is for Apple, FIRM from the tree B is for Bundle and the types of fees C is for Composites, don’t hide the list D is for Dollar or currency expressed E for Expenses, traders’ fees are gross F is for Flowers bundled for the host G is for GIPS local laws can attack H is the Hand that withholds the tax I, redef-EYE-ning, disclose a firm date J is for jumping around with the rates K, calculation, composite, I’m stuck L is a lever, derivatives suck M is Millennium the compliance age N is for Name so disclose any change O is objectives, strategy, style & description P presentations and the fees that fit them Q is the request that you can make R retro-rocket no un-baking the cake S is for star, and did one resign? T is for turkey at the end of ’09 [carve-outs] U is for under or the sub-advisor V is for value on the last day or higher W is for water, minimum level yet? X is a pattern, two threads make a NET. Y is a funnel, how many bundles went in? Z is for zebra stripes like dispersion
haha. This is insane!
funny… might not help on June 5th, but it’s very creative.
creative! I may use this to recall some of the disclosures on the exam day.
someone should post this to L1 GIPS is on there too (L2 candi here)
Ok, so while the poem was nice, it was a little much. But I really liked the idea of using the alphabet to remember everything, so here’s my not nearly as creative (but probably more practical) version (Y and Z were dropped and a couple are stretching, but I’m open to suggestion!) Any change in name of composite? Bundled fees, what % of composite assets? Currency used to express performance Description and Date of composite Events that affected performance? Firm definition Gross of fees, show fees in addition to direct trading expenses How are derivatives and leverage used? Internal dispersion – what measure used? Just redefined firm or composite? Date and nature of change Konflicts of GIPS w/laws/regulations List of composites/descriptions upon request Minimum account size Net of fees, show fees in addition to management fees and direct trading O: cash allocated to carveOUTS? (2010) Presentation prior to 2000, why non-compliant? Q: Additional information on calculating/reporting returns upon reQUEST Returns – gross or net? Schedule of fees Types of fees bundled Use of subadvisor and periods (2006) Valuations business or calendar? (2010) Withholding tax treatment Xchange rates – any inconsistencies?
Aimee… makes much more sense to me. Does anyone understand R from the poem… Retro Robot no un-baking the cake?! Good for a laugh, but not all that useful from my standpoint!
CautiouslyOptimistic Wrote: ------------------------------------------------------- > Aimee… makes much more sense to me. > > Does anyone understand R from the poem… Retro > Robot no un-baking the cake?! > Good for a laugh, but not all that useful from my > standpoint! un-baking the cake presumably means no retrospective changes to the composites
Now we got 35 disclosures…26/35=74% is enough to pass.