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 March, 2006 - 31 October, 2012

Categories: Composite Changes

Source: GIPS Handbook, 2nd Edition

We are changing our investment process and the personnel involved in the management of a UK Fund. The risk and return objectives will be lower, and the fund will be predominantly analyst run rather than the previous ‘portfolio manager’ run. Does this require a change in composite?

The firm must determine if the changes in investment process and personnel will result in a change in the investment strategy of the portfolios in the composite. If the firm determines that the changes result in a different investment strategy for the portfolios, then changes to the client guidelines for the portfolios in the existing composite must be documented. If this will be a new investment strategy offered by the firm, a new composite will be started with a current composite creation date and no composite history.

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