GIPS® Standards for Firms
2020 GIPS Standards for FirmsView 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 7 - Pooled Fund Money-Weighted Return Report (PDF)
Tools and Resources
Why Should Investment Managers Comply with the GIPS Standards?
Demonstrates commitment to the highest ethical principles for performance reporting
Establishes a basis for fair competition across all markets
Helps asset managers compete as asset owners shift more assets toward private equity, private debt, real estate, and hedge funds
The GIPS standards trademark should be used in accordance with the GIPS Standards Trademark Usage Guidelines.