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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Current
Effective: 1 July, 2021Categories: Total Asset Owner AssetsSource: GIPS Standards Technical CommitteeIf an asset owner hires an external manager to manage assets, can both the asset owner and the external manager count these assets as their own and use the performance of these assets as their own?
If an asset owner has discretion over the selection of the external manager (i.e., can hire and/or fire the external manager), both the asset owner and the external manager can count the assets as their own and use the performance of the assets as their own. The asset owner must include the assets managed by the external manager in total asset owner assets and treat the assets as they would other assets that are managed internally (e.g., include them in the appropriate total fund).