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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ArchivedEffective: 1 November, 2012 - 31 December, 2019Categories: Performance History/Track RecordSource: GIPS Handbook, 3rd Edition
One of our portfolio managers is about to be promoted, and another manager will assume responsibility for the portfolios managed to the strategy. The new manager will use the same model, but will apply his own judgment. The investment guidelines for these portfolios will not change when the new manager assumes responsibility for the portfolios. Do we need to create a new composite for the new manager’s investment history?
Because the firm has not changed the investment mandate, objective, or strategy, the portfolios must all continue in the composite and the composite’s history will continue uninterrupted when the new portfolio manager assumes investment responsibility for the portfolios. The firm must also consider if the change in personnel qualifies as a significant event. Firms must disclose all significant events that would help a prospective client interpret the compliant presentation.
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