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 September, 2002 - 31 December, 2019

Categories: Portability

Source: Investment Performance Council (IPC)

If Firm A acquires Firm B and all of the portability requirements are met, is Firm A required to present Firm B’s historical performance, or can Firm A choose to not present Firm B’s historical performance?

The GIPS standards are based on the fundamental principles of fair representation and full disclosure. If all of the portability requirements are satisfied and Firm B is included in the definition of Firm A, it would be misleading for Firm A to discard Firm B’s historical performance. Accordingly, Firm A cannot disregard Firm B’s historical performance. If Firm A were permitted to exclude Firm B’s historical performance, it would be cherry-picking which is against the spirit of the GIPS standards.