GIPS® Standards for Firms
2020 GIPS Standards for Firms
View the GIPS standards (PDF)The needs of investment firms are continually changing. To keep pace, the Global Investment Performance Standards (GIPS®) are updated to make them relevant for all firms, including those managing alternative investments and pooled funds.
Key Changes to the GIPS Standards
- Differentiated reporting for composites versus pooled funds
- More focus on the portfolio structure and less on asset classes
- More flexibility for using money-weighted returns versus time-weighted returns
- Ability to present carved-out performance with allocated cash
- More options for advertising GIPS compliance
Explanation of the Provisions
- Explanation of the Provisions in Section 1 - Fundamentals of Compliance (PDF)
- Explanation of the Provisions in Section 2 - Input Data and Calculation Methodology (PDF)
- Explanation of the Provisions in Section 3 - Composite and Pooled Fund Maintenance (PDF)
- Explanation of the Provisions in Section 4 - Composite Time-Weighted Return Report (PDF)
- Explanation of the Provisions in Section 5 - Composite Money-Weighted Return Report (PDF)
- Explanation of the Provisions in Section 6 - Pooled Fund Time-Weighted Return Report (PDF)
- Explanation of the Provisions in Section 7 - Pooled Fund Money-Weighted Return Report (PDF)
- Explanation of the Provisions in Section 8 - GIPS Advertising Guidelines (PDF)
Tools and Resources
GIPS Standards for Firms - Errata July 2020 (PDF)
Explanation of Provisions Section 2 Calculations
Explanation of Provisions Section 4 Calculations
Explanation of Provisions Section 6 Calculations
GIPS Reports for Firms Comparison Table (PDF)
Suggested Questions for Firms to Ask Verifiers (PDF)
Guidance Statement on Verifier Independence (PDF)
View and sign up to receive the GIPS Standards Newsletter
Follow six steps to comply with the GIPS standards
GIPS Standards Service Provider List (PDF)
Introduction to the GIPS Standards: Increasing Transparency and Trust (PDF)
GIPS Standards for Firms Adopting Release (PDF)
Guidance Statement on Verifier Independence Adopting Release (PDF)
Find the GIPS Standards for Firms on Amazon here
Find the Explanation of the Provisions - Section 1 on Amazon here
Find the Explanation of the Provisions - Section 2 on Amazon here
Find the Explanation of the Provisions - Section 3 on Amazon here
Find the Explanation of the Provisions - Section 4 on Amazon here
Find the Explanation of the Provisions - Section 5 on Amazon here
Find the Explanation of the Provisions - Section 6 on Amazon here
Find the Explanation of the Provisions - Section 7 on Amazon here
Find the Explanation of the Provisions - Section 8 on Amazon here
Why Should Investment Managers Comply with the GIPS Standards?
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Demonstrates commitment to the highest ethical principles for performance reporting
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Establishes a basis for fair competition across all markets
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Helps asset managers compete as asset owners shift more assets toward private equity, private debt, real estate, and hedge funds
Access the 2010 edition of the GIPS standards and supporting resources
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