GIPS2020 Changes Series – #10 Asset Owner Total Fund & Composite Maintenance


The Total Fund and Composite Maintenance is the tenth section of the GIPS 2020 Exposure Draft.

This section for Asset Owners has a fewer number of Standards compared to the relevant Firm section, and notably, has no recommendations, but the Standards here are of similar or the same wording as the associated Firm Standards.

Key Different Standards

The key Standards worth noting here are:

1. The requirement that if the Asset Owners manages more than one Total Fund to the same strategy, the report must be presented separately to those with direct oversight responsibility for each Total Fund or presented as a Composite to those with direct oversight responsibility for the Total Funds (10.A.1).

But if the different Total Funds are managed to different strategies, then the Total Fund report must be presented differently (10.A.3).

Comments Requiring Feedback

There are no comments here requiring feedback, but you are however free to express your views on any of the Standards specified here.

How to Send in Your Comments

We have made it easy for you to go through the comments in bite-sizes and to submit your responses quickly by completing comment survey forms covering the feedback areas requested and more. At the end of the commenting period (December 31, 2018), we will compile all the comments received and forward to the GIPS Organization for review.

Sign-up for free on our Composite Insider platform here to do so.

Alternatively, you can send your written responses to the GIPS Organization.

In the next post, we review the changes to Asset Owner Total Fund and Composite Time-Weighted Return Report.


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