Category Archives: GIPS

2017 GIPS Survey

Have you had a chance to participate in the 10-question survey that was released earlier this month? The results of the survey will aid Ashland Partners in assessing some of the challenges of being a GIPS® compliant firm. The survey will close this Friday, March 31.

If you do not claim compliance with the GIPS Standards, you can help us by answering the first two questions so that we can gather data on those reasons.

https://www.surveymonkey.com/r/PGDFPPB

Thank you again for taking a quick moment to reply to this survey. We look forward to sharing industry best practices with you soon.

GIPS® for Asset Owners

By Nikola Feliz, CPA, CIPM

The GIPS® Guidance Statement on the Application of the GIPS Standards to Asset Owners was the only guidance statement approved in 2014 and became effective January 1, 2015.  Traditionally, many considered the role of asset owners in GIPS compliance relegated to setting the expectation of compliance for their third party investment managers. However, although asset owners face different challenges in meeting the GIPS standards, they can – and many in fact already do – claim compliance.  As long as an asset owner has discretion over the assets under management, they can claim compliance just like any traditional investment management firm.

So if asset owners were already able to claim compliance, why create a guidance statement? Because of those different challenges asset owners face in meeting the GIPS standards.  For instance, they don’t have prospective clients in the traditional sense (but they do have oversight boards) and they typically have one mandate for a fund with multiple asset classes.  This guidance statement gives them the flexibility to report to their oversight boards in a manner that benefits the organization.  Which, like presentations to prospective clients, is an underlying goal of the GIPS Standards.

While this may not seem like a significant event, guidance statements such as this for asset owners and the Guidance Statement on Alternative Investment Strategies and Structures, show that GIPS is growing and expanding beyond traditional assets and institutional third party investment managers. We also feel this will raise the bar and create more demand for GIPS compliance from third party managers.  If the investor is compliant, why not the manager?

Register for the free Live Webinar: The Application of the GIPS Standards to Asset Owners coming up on February 25, 2015.

Houston Educational Conference – Coming Soon!

ASHLAND PARTNERS EDUCATIONAL CONFERENCE – MARCH 31 & APRIL 1

Register

FUNDAMENTALS OF PERFORMANCE MEASUREMENT & ATTRIBUTION WORKSHOP

Join Ashland Partners and Carl Bacon, CIPM, renowned performance measurement specialist and one of the founding members of GIPS, for an interactive course on critical concepts of performance measurement and attribution. Topics range from basic return calculation, benchmarks, risk-adjusted performance measurement, and attribution techniques to the Global Investment Performance Standards.

For more information, click here.

Ashland Educational Conference – Boston, October 15 – 17

FUNDAMENTALS OF PERFORMANCE
MEASUREMENT & ATTRIBUTION

 with Carl Bacon, CIPM
and joined by a senior level Ashland Partners professional with GIPS experience, verification, performance mea­surement, and internal control procedure development.

Fundamental Course – October 15 & 16

Join us for this two-day practical course designed to give a thorough understanding of the fundamentals of performance measurement, ranging from basic return calculation, benchmarks, risk-adjusted perfor­mance measurement, and attribution techniques to the Global Investment Performance Standards.

Through class lectures, interactive discussion, practical exercises and team presentations, you will:

    • Understand the critical concepts of performance measurement
    • Learn the different ways to derive returns (and why the results can vary)
    • Get a better understanding of why and how cash flows affect the returns
    • Become familiar with the fundamentals of benchmarking
    • Assert why risk measurement and control are important and what the measures mean
    • Gain insight into the role of attribution, the challenges in getting it right, and how it should be used
    • Understand what’s required to obtain and maintain compliance with the Global Investment Performance Standards

Advanced Attribution Course – October 17

In addition to the two-day course, a one-day intensive advanced course will be offered for those who wish to increase their technical knowledge and gain a detailed understanding of all aspects of performance return attribution.

The one-day advanced attribution course will include the following topics:

  • Introduction to Advanced Attribution
  • Multi-Currency Attribution
  • Fixed Income Attribution
  • Attribution for Derivatives

Registration

 Registration for two day course – Ashland Partners Clients: $1,595 (non-clients $1,795)

Registration for one day advanced course – Ashland Partners Clients: $800 (non-clients $895)

Registration for three day course – Ashland Partners Clients: $2,395 (non-clients $2,695)

Boston
October 15-17
Register Now
We offer CPE Credits!

Marketing Internationally with GIPS

Marketing Internationally with GIPS

by Rosellen Bounds, CIPM and Sachta Bakshi

Methodologies for calculating performance vary all over the world.  So how can investors compare “apples to apples” in this globalized world?  How do investors diversify their portfolio geographically and shop for the best investment managers to meet their needs globally?  In turn, how do investment managers located on different continents compete?  This is where the Global Investment Performance Standards (GIPS®) steps in to bridge the gap.  The GIPS standards allow the investment industry to compare performance on a level playing field, internationally.  When a firm complies with GIPS, they are making a pledge to investors to provide transparency– abiding by the principles of full disclosure and fair representation.  The GIPS standards are advantageous to both the firm complying with the standards as well as investors looking to efficiently allocate their resources into meaningful investments.  Investors in general place higher reliance on GIPS compliant firms than ones that are not.  The investor is assured that the performance presented has met a certain standard and can rely on it to better interpret the results.

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