Resources - Page 5 of 7 - Cascade Compliance

GIPS^® Reports – Managing Distribution Requirements

December 8, 2020/in Resources/by Janice Kitzman

GIPS Reports – Managing Distribution Requirements

Does your firm manage segregated accounts and pooled funds? Are you writing 2020 policies to provide a composite report with the fee schedule and expense ratio for the fund in the disclosures? Do you have policies requiring you provide a pooled fund report? Are there ways to avoid having two different composite reports, one for prospective clients and one for prospective investors?

Many firms don’t know in advance of initial meetings whether a prospect is going to be a prospective investor (in a pooled fund product) or a prospective client (in a segregated account). So what if you provide a GIPS Composite Report—without your fund’s expense ratio or fee schedule—and the prospective client turns into a prospective investor?

2020 GIPS^® Standards Q&As

September 17, 2020/in Resources/by Kim Cash

This is a comprehensive list of Q&A’s released as part of the GIPS standards Newsletter, organized by subject matter. As CFA Institute continues to add Q&As through the GIPS Standards Newsletter, we will continue to update this page.

GIPS 2010 Transition to GIPS 2020

Pooled Funds

Composite Management/Policies

Input Data and Portfolio Calculation

GIPS^® Advertising Guidelines

April 30, 2020/in Resources/by Kim Cash

It is hard to believe year-end reporting was completed just 3 months ago, and 2019 double-digit returns were something to be celebrated. It feels like the last 3 months have lasted the equivalent of 12 months. While first quarter 2020 was challenging for most firms on many levels, prospective investors are looking to asset managers for what to do now, how did the firm do during 1Q20 and what else does the firm bring to the table? It is a great time to show prospects and clients the firm’s commitment to industry best practices along with first quarter performance updates.

MWRs vs. TWRs – Are 2020 GIPS Standard Changes a Better Fit for Your Firm?

February 12, 2020/in Resources/by Kim Cash

With the 2020 edition of the GIPS standards, firms claiming compliance with the GIPS standards now have a choice of whether to use time-weighted returns (TWRs) or money-weighted returns (MWRs). This is fantastic news for the alternatives community. In the 2010 version of the GIPS standards, a series of since-inception MWRs was required for private equity funds, but no other investment structure or strategy had the option to present MWRs without also showing a series of annual TWRs.

Year-end Database Questions

January 16, 2020/in Resources/by Kim Cash

It’s that time of year for many firms to update annual performance statistics in compliant presentations and send them off to databases. For firms that want to jump right in and incorporate 2020 GIPS standards requirements into GIPS reports, 2020 Handbook guidance is imminent. Below are three year-end database questions you’ll want to get right:

GIPS^® Composite Reports – What’s Really Changing?

December 12, 2019/in Resources/by Kim Cash

For firms electing to update reports with 2019 performance, the season for making required changes is upon us. What is really changing to the GIPS compliant presentation besides now referring to them as GIPS Reports?

Most significantly, there are now four compliant presentations, and each report has its own chapter in the 2020 edition of the GIPS standards. For firms already including limited pooled funds in composites, you can weigh the pros and cons of pooled fund versus Composite Reports in our article “Bridging the Fund vs Composite Divide” .