Thanks for your help in advance
It says that GIPS must be applied on a firm wide basis (¿meaning that it includes the total assets of the firm, that is the total market value of discretionary and non-discretionary assets, including fee payinf and non-fee paying, RIGHT?) BUT it is well known that the characteristic of GIPS is that includes ONLY all actual fee-paying, discretionary portfolios in composites… please help, what do they mean for a firm-wide basis (I think it is not just a few composites, but all, but those composites are all actual fee-paying, discretionary portfolios)