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
The 2010 edition of the GIPS standards requires a firm to value portfolios in accordance with the composite-specific valuation policy. We manage both pooled funds which are valued daily and non-pooled (segregated) portfolios which are valued monthly and for cash flows above 5%. We include both types of portfolios in the same composite. May we have a different policy for the frequency of valuing pooled funds versus non-pooled portfolios that are included in the same composite?
Yes. The firm must establish a composite-specific valuation policy, but that policy may differentiate valuation frequency for different types of portfolios in the composite. The firm must apply the composite-specific valuation policy consistently based on the valuation frequency for the type of portfolio.