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: Performance History/Track Record

Source: GIPS Handbook, 3rd Edition

Firm A has been in existence since 1990 but did not decide to comply with the GIPS standards until 2001. Beginning 1 January 2001, what periods of performance must Firm A present to claim compliance with the GIPS standards?

At a minimum, Firm A must show its performance in compliance with the GIPS standards from 1 January 1996 through 31 December 2000, which represents a five-year compliant performance record. Each year for at least five years thereafter, the firm must continue to add an annual return to its existing composites, building to a ten-year compliant track record. A (minimum) ten-year GIPS-compliant performance record is then available after 31 December 2005.

During this ten-year period, Firm A may create new composites and terminate others (e.g., as portfolios open and close). It is possible that these new or terminated composites will not have a ten-year performance record at 31 December 2005.

Please also see original Q&A