Q & A Database
The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.
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CurrentEffective: 1 March, 2021Categories: Lists of Composites and Pooled FundsSource: 2020 GIPS Standards
Provision 1.A.22 requires a firm to maintain a list of composite descriptions, a list of limited distribution pooled fund (LDPF) descriptions, and a list of broad distribution pooled funds (BDPFs). The discussion of this provision in the GIPS® Standards Handbook states that an option for a firm to meet this requirement is to prepare a list of all of the strategies that it offers and indicate, as part of the strategy description, the vehicles (segregated account, LDPF, or BDPF) in which the strategy is available—that is, a list of strategies with vehicle types.
If we would like to take advantage of this option and create a list of strategies with vehicle types, are explicit fund names required to be included in this list?
If the firm chooses to create a list of strategies with vehicle types, the firm is not required to explicitly list the fund names.
For example, assume Firm ABC manages a core equity strategy, and this is the only strategy managed by the firm. Firm ABC offers this strategy as a segregated account, a collective investment trust, a limited partnership that is available only to accredited investors, and a retail mutual fund. The following list would be acceptable:
Core Equity Strategy
The Core Equity strategy invests in equities [insert full strategy description]. This strategy is available in the following vehicles:
Collective investment trust