gips global investment performance standards

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1、GIPSStandards_frontmatter.fmPageiiiFriday,March26,20109:23AMCONTENTSPREFACE....................................................................ivINTRODUCTION............................................................1I.PROVISIONSOFTHEGLOBALINVESTMENTPERFORMANCESTANDARDS..........60

2、.FundamentalsofCompliance1.InputData2.CalculationMethodology3.CompositeConstruction4.Disclosure5.PresentationandReporting6.RealEstate7.PrivateEquity8.WrapFee/SeparatelyManagedAccount(SMA)PortfoliosII.GIPSVALUATIONPRINCIPLES................................................25III.GIPSAD

3、VERTISINGGUIDELINES.............................................29IV.VERIFICATION.............................................................31V.GLOSSARY................................................................36AppendixA:SampleCompliantPresentations.........................

4、...........46AppendixB:SampleAdvertisements............................................64AppendixC:SampleListofCompositeDescriptions...............................66GIPSStandards_frontmatter.fmPageivFriday,March26,20109:23AMivPREFACECFAInstituteisaglobalnot-for-profitassociationofin

5、vestmentprofessionalswiththemissionofleadingtheinvestmentprofessiongloballybysettingthehigheststandardsofethics,education,andprofessionalexcellence.CFAInstitutehasalong-standinghistoryofandcommitmenttoestablishingabroadlyacceptedethicalstandardforcalculatingandpresentinginvestmentpe

6、rformancebasedontheprinciplesoffairrepresentationandfulldisclosure.ThegoalsindevelopingandevolvingtheGlobalInvestmentPerformanceStandards(GIPS)aretoestablishthemastherecognizedstandardforcalculatingandpresentinginvestmentperformancearoundtheworldandfortheGIPSstandardstobecomeafirm’s

7、“passport”tomarketinvestmentmanagementservicesglobally.AsofJanuary2010,CFAInstitutehaspartneredwithorganizationsin32countriesthatcontributetothedevelopmentandpromotionoftheGIPSstandards.History●In1995,CFAInstitute,formerlyknownastheAssociationforInvestmentManagementandResearch(AIMR)

8、,sponsoredandfunded