Tag Archives: GIPS

Upcoming Conferences

Ashland Partners Educational Conference: Fundamentals of Performance Measurement & Attribution

Join Ashland Partners and Carl Bacon, CIPM, renowned performance measurement specialist and one of the founding members of GIPS, for a two day interactive course on critical concepts of performance measurement and attribution. Click here for more information.

September 18-19, 2017 • Denver, CO 

Location: Grand Hyatt Denver
1750 Welton Street
Denver, CO 80202

November 13-14, 2017 • Atlanta, GA

Location: Georgia Tech Hotel & Conference Center
800 Spring Street NW
Atlanta, GA 30308

Registration Fees:
Ashland Partners’ Client: $1,595
Non-Ashland Partners’ Client: $1,795
Organizations that register 2 or more individuals qualify for 50% off registration for the second attendee.


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.


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

2017 GIPS Compliance Form Now Available

This feature contains important information about the GIPS® firm notification requirement. Specifically, we will cover:

  1. Important information on what is required and not required with respect to completing the form;
  2. New information concerning some of the form’s optional information;
  3. New information regarding firms that have previously submitted a claim of compliance;
  4. A change in procedure regarding submitting corrections to CFA Institute; and
  5. A look at what is anticipated in the future regarding this requirement.

Continue reading 2017 GIPS Compliance Form Now Available

Industry Survey Released

In conjunction with the USIPC, CFAI has released an industry survey to all stakeholders and interested parties as it relates to the GIPS®. This survey will be evaluated by CFAI staff in order to help focus on outreach efforts, expand guidance to areas of the Standards to which there are none, and will help serve as a base of information when writing GIPS 2020. It is critical that all firms who have concerns or suggestions for the Standards participate in the standard setting process and this is the easiest way to do it. It only takes 5-10 minutes and will provide the industry with a basis for applicable and practical ethical principles for performance reporting.

Who should take the survey? Anyone involved in the investment management business, including asset owners and managers (whether claiming compliance or not), verifiers, auditors, consultants, software vendors, etc.

Click here to view the survey.

GIPS® is a registered trademark owned by CFA Institute.

2016 GIPS® Compliance Form Now Available

The enhanced, user-friendly GIPS compliance form is now available for submission. The new form features an improved confirmation screen listing all information submitted as well as an email confirmation to facilitate firms’ recordkeeping. The deadline for firms to notify CFA Institute of their claim of compliance is 30 June 2016 with information as of 31 December 2015.

For questions related to this requirement, please contact: gipscompliance@cfainstitute.org.

The Principles for Investment Reporting

By Geoffrey Allan Hecht

Most investment advisers are familiar with the Global Investment Performance Standards (GIPS®), which are a set of ethical standards that address transparency issues regarding performance measurement and presentation to prospective clients. As beneficial as GIPS is with providing guidance on full disclosure and fair representation to prospective clients, it does not address reporting for existing clients.  The Principles for Investment Reporting (Principles) were created by CFA Institute and its Investment Reporting Working Group to bridge the gap between the information that preparers of investment reporting (investment advisers, custodians, etc.) intend to provide and the information that users of the investment reporting (investors, consultants, etc.) expect to receive.  These Principles are meant to create transparency for existing clients and ensure client reports either include sufficient information or indicate where this information can be obtained so that existing clients understand the contents of the report and the reasons behind the selection presented.  There is no intent to restrict or define what information should be included in client reports.  It is also important to note that the Principles are not part of the GIPS standards. Continue reading The Principles for Investment Reporting

Managed Accounts in 401(k) Plans: Can the GIPS® Standards help support a plan sponsor’s due diligence process?

In June 2014, the U.S. Government Accountability Office (GAO) issued a letter to the House of Representatives’ Committee on Education and the Workforce regarding the use of managed accounts in 401(k) plans. The letter was based on extensive research conducted to determine how service providers structure managed accounts, the advantages and disadvantages of managed accounts for 401(k) plan participants, and the challenges plan sponsors face in selecting and overseeing managed account providers. A number of issues were noted, including limited fiduciary liability for managers of this service compared to other product offerings, inconsistencies in the fees and service offerings from managed account providers, and a lack of adequate performance and benchmark reporting from managed account providers to plan sponsors.

While regulations regarding fiduciary duty may be beyond the control of plan sponsors, steps should be taken by plan sponsors to conduct due diligence on their managed account providers by comparing their provider’s investment processes, historical performance, and fees charged to other available providers, to ensure their plan’s participants are getting the best service available for the fees charged. Given the issues noted in GAO’s report and the lack of guidance yet to be issued by the DOL, industry best practices for standardizing the reporting of returns-based performance information, such as the Global Investment Performance Standards (GIPS®), should be utilized to help ensure a meaningful comparison between firms is made during the due diligence process.

Please watch our recorded webinar on this important topic to learn more.