Just finished. Only a few main points sticked. So many points to remember in disclosures & reporting. Is the goal just remember enough so you hope you don’t get slammed with something you don’t remember on the exam?
schweser - I havent done yet but will do mid may along with ethics.
Good luck bro
I am trying to structure things in a different way, started out with “Return” and “Disclosure” and listed everything that is important for these. This is my summary, feel free to contribute: http://www.analystwiki.com/wiki/index.php/GIPS_-_Global_Investment_Performance_Standards Hopefully I’ll have time to make a timeline with important dates, too.
> Hopefully I’ll have time to make a timeline with > important dates, too. Beginning of 2000: Prior non-compliant period must be explained 2001: start monthly valuation (instead of quarterly) 2005: start trade date Acctg. Return adjusted for daily weighted external cash flows 2006: Start consistent beginning and end annual valuation date (calanedar year end or last business day of year). Start asset weighted composite (of indiv portfolio) each quarter. CVG compliant reciprocity no longer granted for performance after this date. % of composite = carve out disclosed. 2008: Start Real estate Investmnt valued quarterly, not annually. 2010: Carve out not allowed in single asset composites unless managed separately with own cash balance. Valuation on portfolio on date of all large external cash flows as well as of the calendar month-end or the last business day of the month Start asset weighted composite (of indiv portfolio) at least monthly, not quartely.
all sorts of calculations in that chapter - pay attention - classic CFA style: dangle the left out there (all the qualitative standards) and then knock you out with right (real estate return calc)
Unfortunately, you need to know these very well. You will see in the practice tests & past exams that they like to give a sample portfolio performance summary and then ask for the 10 reasons why it’s not GIPS compliant. For these type of questions, the calculations aren’t emphasized as much (from what I remember from last year).
elcfa Wrote: ------------------------------------------------------- > > Hopefully I’ll have time to make a timeline > with > > important dates, too. > > Beginning of > 2000: Prior non-compliant period must be > explained > 2001: start monthly valuation (instead of > quarterly) > 2005: start trade date Acctg. Return adjusted for > daily weighted external cash flows > 2006: Start consistent beginning and end annual > valuation date (calanedar year end or last > business day of year). Start asset weighted > composite (of indiv portfolio) each quarter. CVG > compliant reciprocity no longer granted for > performance after this date. % of composite = > carve out disclosed. > 2008: Start Real estate Investmnt valued > quarterly, not annually. > 2010: Carve out not allowed in single asset > composites unless managed separately with own cash > balance. > Valuation on portfolio on date of all large > external cash flows as well as of the calendar > month-end or the last business day of the month > Start asset weighted composite (of indiv > portfolio) at least monthly, not quartely. Thanks, I’ll be sure to include all that. I’ll try to get around to do that tonight.
BTW, if anybody wants to contribute here: http://www.analystwiki.com/wiki/index.php/Level_III_Portal you’re most welcome…
elcfa Wrote: ------------------------------------------------------- > > Hopefully I’ll have time to make a timeline > with > > important dates, too. > > Beginning of > 2000: Prior non-compliant period must be > explained > 2001: start monthly valuation (instead of > quarterly) > 2005: start trade date Acctg. Return adjusted for > daily weighted external cash flows > 2006: Start consistent beginning and end annual > valuation date (calanedar year end or last > business day of year). Start asset weighted > composite (of indiv portfolio) each quarter. CVG > compliant reciprocity no longer granted for > performance after this date. % of composite = > carve out disclosed. > 2008: Start Real estate Investmnt valued > quarterly, not annually. > 2010: Carve out not allowed in single asset > composites unless managed separately with own cash > balance. > Valuation on portfolio on date of all large > external cash flows as well as of the calendar > month-end or the last business day of the month > Start asset weighted composite (of indiv > portfolio) at least monthly, not quartely. I thought 2006 standards required quarterly and only 2010 required monthly?
BiPolarBoyBoston Wrote: > I thought 2006 standards required quarterly and > only 2010 required monthly? wasn’t it what I wrote?
elcfa Wrote: ------------------------------------------------------- > > Hopefully I’ll have time to make a timeline > with > > important dates, too. > Done. Let me know if you have any suggestions - or add them directly in the discussion of that page: http://www.analystwiki.com/wiki/index.php/GIPS_-_Global_Investment_Performance_Standards