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: Portability

Source: GIPS Handbook, 2nd Edition

At Firm X, managers A, B, and C are part of a six person investment management team responsible for managing Firm X’s Growth and Income composite. Firm Y hires managers A, B, and C to start a growth and income strategy at Firm Y. Can Firm Y link the performance of managers A, B, and C while at Firm X to the ongoing performance the managers will earn at Firm Y and comply with the GIPS standards?

The firm must determine if managers A, B and C constitute “substantially all of the investment decision-makers” for the strategy. If the decision-making process remains intact (unchanged) in the new firm, it could be justified that substantially all of the investment decision-makers are employed by Firm Y and the rules of portability are met. If not, the historical performance from Firm X can be shown as supplemental information, provided it is clearly labeled as such.

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