{"product_id":"complying-with-the-global-investment-performance-standards-gips-isbn-9780470400920","title":"Complying with the Global Investment Performance Standards (GIPS)","description":"\u003cb\u003eThe first and only comprehensive explanation of GIPS, including how to comply with and implement them\u003c\/b\u003e  \u003cp\u003eWhile the CFA Institute has published Global Investment Performance Standards (GIPS) for years, there has never been a serious discussion of their implementation and best use.\u003c\/p\u003e \u003cp\u003eIn this new book, that void is filled, and you'll quickly discover how to calculate, present, and interpret investment performance conforming to standards that are currently used in over thirty countries worldwide. Covering both the mathematics of relevant investment statistics and the policies and procedures for achieving and maintaining compliance, this book is a comprehensive guide to successfully using GIPS standards in today's turbulent investment environment.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eChapters include information on GIPS fundamentals, performance composites, risk and dispersion measurement, and much more\u003c\/li\u003e \u003cli\u003eExamples are provided throughout, and supplemental formulas make the book usable as a reference\u003c\/li\u003e \u003cli\u003eProvides the detailed knowledge currently needed by a large group of investment professionals\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIf you're in the field of finance, \u003ci\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/i\u003e is a book you need to read.\u003c\/p\u003e  About the Authors xi  \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003eIntroduction xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE:\u003c\/b\u003e \u003cb\u003eExplanation of the GIPS Standards\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1. Fundamentals of Compliance 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eScope of the GIPS Standards 3\u003c\/p\u003e \u003cp\u003eHistory of the GIPS Standards 4\u003c\/p\u003e \u003cp\u003eGovernance of the GIPS Standards 5\u003c\/p\u003e \u003cp\u003eOrganization of the GIPS Standards 7\u003c\/p\u003e \u003cp\u003eFundamentals of Compliance 8\u003c\/p\u003e \u003cp\u003eSummary 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2. Defining the Firm and Composites 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining the Firm 13\u003c\/p\u003e \u003cp\u003eDefining Composites 23\u003c\/p\u003e \u003cp\u003eSummary 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO:\u003c\/b\u003e \u003cb\u003eThe Methodology for Calculating Returns\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3. Portfolio Return Measurement 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSingle Period Rate of Return 54\u003c\/p\u003e \u003cp\u003eTime Value of Money 63\u003c\/p\u003e \u003cp\u003ePerformance of the Investor: Money Weighted Returns 67\u003c\/p\u003e \u003cp\u003eInternal Rate of Return 71\u003c\/p\u003e \u003cp\u003ePerformance of the Investment Manager: Time Weighted Returns 77\u003c\/p\u003e \u003cp\u003ePortfolio Return Calculations for the GIPS Standards 82\u003c\/p\u003e \u003cp\u003eSummary 90\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4. Composite Return Measurement 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComposite Constituents 91\u003c\/p\u003e \u003cp\u003eComposite Returns 93\u003c\/p\u003e \u003cp\u003eSingle Period Composite Return Considerations 97\u003c\/p\u003e \u003cp\u003eMulti-period Composite Returns 100\u003c\/p\u003e \u003cp\u003eSummary 107\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5. Dispersion and Risk Measurement 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInternal Dispersion 109\u003c\/p\u003e \u003cp\u003eEqual Weighted Dispersion 111\u003c\/p\u003e \u003cp\u003eAsset Weighted Dispersion 114\u003c\/p\u003e \u003cp\u003eRisk 119\u003c\/p\u003e \u003cp\u003eSummary 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE:\u003c\/b\u003e \u003cb\u003eReporting and Maintaining Compliance with the GIPS Standards\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6. Disclosing and Advertising Composite Performance 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRequired Numerical Information 141\u003c\/p\u003e \u003cp\u003eRequired Disclosures 149\u003c\/p\u003e \u003cp\u003eLength of Time for Disclosures 168\u003c\/p\u003e \u003cp\u003ePresentation and Disclosure Recommendations 168\u003c\/p\u003e \u003cp\u003eSupplemental Information 170\u003c\/p\u003e \u003cp\u003eGIPS Advertising Guidelines 171\u003c\/p\u003e \u003cp\u003eSummary 177\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7. Wrap-Fee\/SMA, Private Equity, and Real Estate 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWrap-Fee\/Separately Managed Accounts 180\u003c\/p\u003e \u003cp\u003ePrivate Equity 188\u003c\/p\u003e \u003cp\u003eReal Estate 198\u003c\/p\u003e \u003cp\u003eSummary 203\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8. Maintaining Compliance with the GIPS Standards 205\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOrganization and Oversight 205\u003c\/p\u003e \u003cp\u003eReturn Calculation 211\u003c\/p\u003e \u003cp\u003eError Correction 215\u003c\/p\u003e \u003cp\u003eManaging Composites and Presentations 220\u003c\/p\u003e \u003cp\u003eSummary 226\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9. Verification 227\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVerification 228\u003c\/p\u003e \u003cp\u003ePerformance Examinations 229\u003c\/p\u003e \u003cp\u003eVerification Considerations 230\u003c\/p\u003e \u003cp\u003eRequired Verification Procedures 234\u003c\/p\u003e \u003cp\u003eThe Verifier’s Report 241\u003c\/p\u003e \u003cp\u003ePreparing for Verification 241\u003c\/p\u003e \u003cp\u003eSummary 245\u003c\/p\u003e \u003cp\u003eIndex 247\u003c\/p\u003e  \u003cb\u003eBruce J. Feibel\u003c\/b\u003e is Managing Director of Investment Manager Products at BNY Mellon. Formerly, Mr. Feibel was Chief Strategy Officer for Eagle Investment Systems, a BNY Mellon company. Prior to this he was a principal at State Street Global Advisors. He is also the author of the book \u003ci\u003eInvestment Performance Measurement\u003c\/i\u003e, published by Wiley. He earned his B.S. in accounting from the University of Florida. Feibel is a CFA charterholder, a member of the GIPS Risk Standards Working Group, and a past member of the CFA Institute Investment Performance Council.  \u003cp\u003e\u003cb\u003eKaryn D. Vincent\u003c\/b\u003e is the founder of Vincent Performance Services LLC, a provider of GIPS verification and consulting services. Prior to this, she was a partner at PricewaterhouseCoopers and was responsible for the firm's verification practice globally. Vincent currently chairs the GIPS Interpretations Subcommittee and is a member of the GIPS Executive Committee. Previously she chaired the GIPS Verification Subcommittee. Vincent earned her B.S. in accounting from the University of Massachusetts Dartmouth, and is a CFA charterholder and a CIPM certificant.\u003c\/p\u003e  The investment management industry has global standards for the calculation and presentation of investment performance to prospective investors. These are the Global Investment Performance Standards (GIPS), which were created and are administered by CFA Institute.  \u003cp\u003eExpanding upon information associated with the GIPS standards published by CFA Institute, this reliable resource provides practical guidance for today's financial professional—from money managers or firms engaged in attracting new clients to institutional investors looking to hire investment managers that align with their goals.\u003c\/p\u003e \u003cp\u003eEngaging and informative, this book offers valuable insights on achieving and maintaining compliance with the GIPS standards as well as a detailed explanation of the rationale behind the numbers. \u003ci\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/i\u003e is divided into three different parts:\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I:\u003c\/b\u003e Explains the GIPS standards and how to comply with them by creating composites representing the performance of a firm's strategies\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II:\u003c\/b\u003e Addresses the methodology for calculating returns used to quantify a manager's historical performance and examines the statistics that quantify the risks taken to achieve those returns\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III:\u003c\/b\u003e Discusses the essential issues associated with reporting performance and reveals what it takes to achieve and maintain compliance with the GIPS standards\u003c\/p\u003e \u003cp\u003eAlong the way, the book provides worked examples illustrating particular techniques for analyzing performance, and skillfully describes the most commonly used methods for deriving returns used for marketing purposes.\u003c\/p\u003e \u003cp\u003eThe GIPS standards have changed today's financial landscape. And while past performance cannot guarantee future results, the information conveyed by the GIPS standards has helped prospective investors and investment managers form more informed relationships. Nobody understands this better than authors Bruce Feibel and Karyn Vincent, both long-standing volunteers with CFA Institute's GIPS committees, and now, in \u003ci\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/i\u003e they put this dynamic discipline in perspective.\u003c\/p\u003e  \u003cb\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/b\u003e  \u003cp\u003eWhile CFA Institute has published the Global Investment Performance Standards (GIPS) for years, there has never been an in-depth discussion of their implementation.\u003c\/p\u003e \u003cp\u003eWith this new book, authors Bruce Feibel and Karyn Vincent, both of whom have earned global reputations as authorities on performance measurement, fill that void by showing you how to calculate, present, and interpret investment performance in compliance with these standards, which are currently implemented in over thirty countries worldwide.\u003c\/p\u003e \u003cp\u003eCovering both the mathematics of relevant investment statistics and the policies and procedures for achieving and maintaining compliance, \u003ci\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/i\u003e is a comprehensive guide to successfully using the GIPS standards in today's competitive environment. Divided into three engaging parts, this reliable resource contains:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eInformation on GIPS fundamentals, performance composites, and risk and dispersion measurement\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eInsights on presenting performance for nontraditional asset classes and investment vehicles\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eAdvice on how both money managers and their clients can benefit from independent verification\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eIllustrated examples and supplemental formulas that make the book a usable reference source\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eAnd much more\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIf you're in the field of finance—as an institutional investor or as a manager that serves them—\u003ci\u003eComplying with the Global Investment Performance Standards (GIPS)\u003c\/i\u003e is a book you need to read.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988960592101,"sku":"NP9780470400920","price":90.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470400920.jpg?v=1761782217","url":"https:\/\/k12savings.com\/products\/complying-with-the-global-investment-performance-standards-gips-isbn-9780470400920","provider":"K12savings","version":"1.0","type":"link"}