Could you please clarify, if according to GIPS, IRR (internal rate of return) can be provided to investors on Fund management company level, but not on a Fund level.
Let’s say, Fund management company is the one who manages 10 funds. Therefore:
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Can it provide target return interval on a Fund management company level, for example 10-20% target return as information to investors (it means interval of all its funds under management)
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Or it can only provide target IRR on a fund level (not on Fund management company level who manages multiple funds)?