GIPS Compliance

Just When We Thought Carveouts Were Back


The treatment of carveouts within the GIPS standards (formerly, the AIMR Performance Standards) has been a long and winding road since the inception of the standards back in the early 1990s. Initially, the standards permitted the carving out of a portion of portfolio assets into individual segments for the…more

Error Correction and Materiality Under GIPS 2020

Overview of the Rules Under GIPS 2020

The error correction rules for firms are in provision 1.A.20 of GIPS 2020, which notes that firms must correct material errors in GIPS composite reports and must:

Provide the corrected GIPS composite report to the current verifier
Provide the corrected GIPS…more

GIPS 2020 Changes Carve-Out Standards

With the release of GIPS 2020 came another change to the standards on carve-outs, marking the second time in which the guidance has changed. So, we thought it might be worthwhile to revisit the history of carve-outs guidance within the GIPS Standards.

A Brief History

Initially, the GIPS…more

The Impact of GIPS 2020 on Pooled Fund Managers

The 2020 edition of the Global Investment Performance Standards (GIPS 2020) was released on June 30, 2019 and is effective beginning January 1, 2020. GIPS 2020 introduced a significant number of additions and changes, the most notable of which can be found in our “Top 5 Things You Need to…more