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 May, 2010 - 31 December, 2019Categories: RiskSource: GIPS Executive CommitteeFor periods ending on or after 1 January 2011, firms must present, as of each annual period end, the three-year annualized ex-post standard deviation (using monthly returns) of both the composite and the benchmark. Additionally, firms must disclose if the three-year annualized ex-post standard deviation of the composite and/or benchmark is not presented because 36 monthly returns are not available.
The benchmark for one of our composites does not have 36 monthly returns available to calculate the three-year annualized ex-post standard deviation because only quarterly benchmark returns are available. However, the composite does have 36 monthly returns available. Are we required to present the three-year annualized ex-post standard deviation for the composite when there is no corresponding standard deviation for the benchmark?
Yes. Firms must present the three-year annualized ex-post standard deviation for the composite if 36 monthly returns are available, even if 36 monthly returns are not available for the benchmark. Firms must disclose if the three-year annualized ex-post standard deviation of the benchmark is not presented because 36 monthly returns are not available.