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: 1 December, 2013 - 31 December, 2019

Categories: Changes to the Standards: 2006 GIPS, List of Composite Descriptions

Source: GIPS Executive Committee

We have five terminated composites on our list of composite descriptions. The GIPS standards state that firms must provide a compliant presentation for any composite on the list of composite descriptions to any prospective client who makes such a request. Does that include terminated composites?

Yes. Firms must include terminated composites on the list of composite descriptions for at least five years after the composite termination date. A firm must provide a compliant presentation for a terminated composite, as firms must provide a compliant presentation for any composite on the list of composite descriptions to any prospective client who makes such a request. One objective of the GIPS standards is to ensure the fair representation of a firm’s investment performance track record. This includes not only currently managed strategies, but also those that the firm previously maintained and that are now terminated.

Please also see original Q&A