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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1 Result
  • Archived

    Effective: 1 June, 2005 - 30 November, 2013
    Categories: Cash Flow
    Source: Investment Performance Council (IPC)

    Please provide clarification concerning what is and is not considered an external cash flow.

    When considering a total portfolio, an external cash flow is a flow of cash and/or securities (capital additions or withdrawals) that is client initiated. Expense payments are also considered external cash flows. Income receipts are not cash flows. The “cash flow” may be defined by the firm as a single flow or an aggregate of a number of flows within a stated period of time. When considering sub-portfolios of a multiple asset portfolio, a manager-directed reallocation of assets between segments could also be considered an external cash flow for that segment.

    Please also see updated Q&A