The Ins and Outs of GIPS Compliance: What Hedge Fund Managers Need to Know About the Voluntary Standards and Pending Revisions

Although not legally required, more than 80 percent of the top 100 asset managers claimed compliance with the Global Investment Performance Standards (GIPS) for their assets under management as of June 30, 2017, and there is a growing interest in GIPS from Asia-Pacific and Africa, according to panelists at a recent webinar hosted by Ascendant Compliance Management. The webinar speakers included Adam DiPaolo, associate general counsel and senior consultant at Ascendant; Michael W. McGrath, partner at K&L Gates; and Antonella Puca, director at the CFA Institute. This article summarizes Puca’s discussion of GIPS and pending changes to the standards that may affect how fund managers who claim GIPS compliance must present their performance results. For coverage of the portions of this webinar that addressed adviser advertising generally, see “How Investment Advisers Can Mitigate Common Advertising Risks” (Jul. 19, 2018).

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