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 November, 2012 - 31 December, 2019

Categories: Disclosures

Source: GIPS Handbook, 3rd Edition

Firm A has an equity composite that is managed by one portfolio manager, who is prominently displayed in the firm’s marketing materials. This manager leaves the firm, and another manager is hired to continue managing the composite according to the same strategy. What disclosures should be made?

Each firm must determine which significant events would help a prospective client interpret the compliant presentation. When a strategy has a single investment decision maker who leaves and is replaced with a new investment decision maker, this event qualifies as a significant event which must be disclosed. Although the investment strategy remains the same with the new manager, the firm must disclose the change in personnel responsible for the management of the equity composite.

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