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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Current

Effective: 1 January, 2020

Categories: Portability

Source: 2020 GIPS Standards

At Firm X, portfolio managers A, B, and C are part of a six-person investment management team responsible for managing Firm X’s Growth and Income Composite. Firm Y hires managers A, B, and C to start a growth and income strategy at Firm Y. Does Firm Y meet the portability test requiring substantially all of the investment decision makers to be employed by the new firm?

Firm Y must determine if portfolio managers A, B, and C constitute “substantially all of the investment decision-makers” for the Growth and Income Composite. Firm Y must also determine if all the other rules of portability are met. If the portability requirements specified in Provision 1.A.32 are met, Firm Y may link the prior performance from Firm X. If the portability requirements specified in Provision 1.A.32 are not met, the historical performance from Firm X must not be linked to the performance of Firm Y.

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