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 January, 2006 - 31 December, 2019

Categories: Wrap Fee Portfolios

Source: Guidance Statement for Wrap Fee/SMA Portfolios

When reporting performance to a specific wrap fee/SMA sponsor with whom our firm has entered into a sponsor agreement, we report the performance of that sponsor’s portfolios (managed to the same strategy) since the inception of our relationship with the sponsor in a composite. May we link the performance of the sponsor-specific results to our historical, style-defined wrap fee/SMA composite track record, which includes the combined historical performance of all wrap fee/SMA portfolios managed in the same style, regardless of sponsor?

Yes. Sponsor-specific wrap fee/SMA composite results may be linked to the historical performance of a style-defined composite (which could also include the performance of non-wrap fee/SMA portfolios managed in the same style reduced by the highest total wrap fee).