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.

Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.

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Archived

Effective: 18 April, 2018 - 31 December, 2019

Categories: Pooled Funds

Source: GIPS Executive Committee

We manage pooled funds that are broadly distributed. We typically have no contact with prospective investors in these pooled funds. Are we required to provide a GIPS compliant presentation, which is for a composite, to these pooled fund prospective investors?

No. Firms are required to make every reasonable effort to provide a compliant presentation to all prospective clients. A prospective client is defined as any person or entity that has expressed interest in one of the firm’s composite strategies and qualifies to invest in the composite. A broad distribution pooled fund prospective investor is someone who is interested in a broad distribution pooled fund. Therefore, a prospective investor in such a fund is not required to receive a compliant presentation, which contains information appropriate for a composite strategy and not for a specific fund.