There are 8 items required for GIPS presentation: 1) Annual Returns 2) Total Return (%) 3) Benchmark return (%) 4) Measure of internal dispersion if > 5 portfolios 5) Number of portfolios if > 5 6) Total Composite Assets at EOP 7) % of Firm Assets 8) Total Firm Assets Questions: a) If you provide 6 & 8, then 7 is readily calc’able. So, if 7 is excluded, is that a violation? 2) If you provide 6 & 7, then 8 is readily calc’able. No 8=violation? PS: Thanks to the CFA Inst for turning this into a ‘how will they try to trick us on the GIPS’ session.
> Questions: > a) If you provide 6 & 8, then 7 is readily > calc’able. So, if 7 is excluded, is that a > violation? > 2) If you provide 6 & 7, then 8 is readily > calc’able. No 8=violation? It’s my understanding that you must present it all – the client shouldn’t have to do the calculations.
Nah I think you’re incorrect there. Pretty sure it’s Total firm assets and % of firm or total firm assets and assets per composite (at period end)
I agree with APP
It’s either the percentage of the firm’s total assets in the composite or the amount of total firm assets. Check CFA Vol. 6 p. 308
Final words by Mchigi - client can do % calculation for themselves.