Complying with the Global Investment Performance Standards (GIPS)

Acknowledgments.

Introduction.

Part I: Explanation of the GIPS standards.

Chapter 1: Fundamentals of Compliance.

Scope of the GIPS Standards.

History of the GIPS Standards.

Governance of the GIPS Standards.

Organization of the GIPS Standards.

Fundamentals of Compliance.

Summary.

Chapter 2: Defining the Firm and Composites.

Defining the Firm.

Defining Composites.

Summary.

Part II: The Methodology for Calculating Returns.

Chapter 3: Portfolio Return Measurement.

Single Period Rate of Return.

Time Value of Money.

Performance of the Investor: Money Weighted Returns.

Internal Rate of Return.

Performance of the Investment Manager: Time Weighted Returns.

Portfolio Return Calculations for the GIPS Standards.

Summary.

Chapter 4: Composite Return Measurement.

Composite Constituents.

Composite Returns.

Single Period Composite Return Considerations.

Multi-period Composite Returns.

Summary.

Chapter 5: Dispersion and Risk Measurement.

Internal Dispersion.

Equal Weighted Dispersion.

Asset Weighted Dispersion.

Risk.

Summary.

Chapter 6: Disclosing and Advertising Composite Performance.

Required Numerical Information.

Required Disclosures.

Supplemental Information.

GIPS Advertising Guidelines.

Summary.

Chapter 7: Wrap-Fee/SMA, Private Equity, and Real Estate.

Wrap-Fee/Separately Managed Accounts.

Private Equity.

Real Estate.

Summary.

Part III: Achieving and Maintaining Compliance with the GIPS Standards.

Chapter 8: Maintaining Compliance with the GIPS Standards.

Organization and Oversight.

Return Calculation.

Error Correction.

Managing Composites and Presentations.

Summary.

Chapter 9: Verification.

Verification.

Performance Examinations.

The Verification Process.

Verification Procedures.

Summary.

Index.