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 May, 2010 - 31 December, 2019Categories: ValuationSource: GIPS Executive Committee
We manage segregated institutional accounts and U.S. mutual funds. We are required to “fair value” our U.S. mutual funds to prevent market timing abuses. Is this fair value the same fair value as is required by the 2010 edition of the GIPS standards?
No. The fair valuation requirement for U.S. mutual funds is a different concept than that required by the GIPS standards. In fact, a U.S. mutual fund could be fair valued for NAV reporting purposes differently from the fair value used for GIPS reporting purposes.
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