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 July, 2007 - 31 October, 2012

Categories: Recordkeeping

Source: GIPS Executive Committee

I have a composite that I don’t use for advertising or marketing purposes. Must I keep the records for the portfolios in this composite as well as records for the composite itself, even if I don’t market the composite’s performance?

Yes; the firm must maintain sufficient records that allow for the recalculation of composite-level returns (as well as the underlying portfolio-level returns) for all the firm’s composites, regardless of whether the composites are used for marketing or not. All composites of actual, fee-paying, discretionary portfolios, whether marketed or not, must be listed on the firm’s list of composites. The firm must be prepared to provide a composite presentation in compliance with the Standards for all composites on the list when requested to do so by a prospective client. The presentation should be available within a reasonable time frame if not immediately available.

Please also see updated Q&A