GIPS2020

GIPS2020 Term – Full Gross-of-Fees Return

2018-12-08T20:15:01+00:00

#15 Full Gross-of-Fees Return Full Definition This term is defined in the GIPS 2020 Exposure Draft as “For an ASSET OWNER, the return on investments that reflects the deduction of only TRANSACTION COSTS. ” Key Points about This Term This term is new in the Global Investment Performance Standards (GIPS) vocabulary. It comes along [...]

GIPS2020 Term – Full Gross-of-Fees Return2018-12-08T20:15:01+00:00

GIPS2020 Term – Fixed Life

2018-12-07T12:43:12+00:00

#14 Fixed Life Full Definition This term is defined in the GIPS 2020 Exposure Draft as “Having a pre-determined, finite investment time horizon. ” Key Points about This Term This term is not exactly new in the Global Investment Performance Standards (GIPS) vocabulary. It has been in the Private Equity provisions of the [...]

GIPS2020 Term – Fixed Life2018-12-07T12:43:12+00:00

GIPS2020 Changes Series – #3 Firm Composite and Pooled Fund Maintenance

2018-12-10T05:39:17+00:00

Overview The Composite and Pooled Fun Maintenance section for Firms is the third section of the Global Investment Performance Standards (GIPS) 2020 Exposure Draft. This section replaces the Composite Construction section of the 2010 edition of the Standards. The focus is still on how to construct and maintain Composites. Although still limited to the [...]

GIPS2020 Changes Series – #3 Firm Composite and Pooled Fund Maintenance2018-12-10T05:39:17+00:00

GIPS2020 Term – Fixed Commitment

2018-12-07T11:51:48+00:00

#13 Fixed Commitment Full Definition This term is defined in the GIPS 2020 Exposure Draft as “Having a pre-determined amount of COMMITTED CAPITAL.” Key Points about This Term This term is not exactly new in the Global Investment Performance Standards (GIPS) vocabulary. It has been in the Private Equity provisions of the GIPS [...]

GIPS2020 Term – Fixed Commitment2018-12-07T11:51:48+00:00

GIPS2020 Term – External Valuation

2018-12-06T13:16:04+00:00

#12 External Valuation Full Definition This term is defined in the GIPS 2020 Exposure Draft as “An independent assessment of value performed by an external third party” Key Points about This Term This term is not new at all in the Global Investment Performance Standards (GIPS) vocabulary! It was, however, limited to the Real Estate [...]

GIPS2020 Term – External Valuation2018-12-06T13:16:04+00:00

GIPS2020 Term – Expense Ratio

2018-12-06T06:27:56+00:00

#10 Expense Ratio Full Definition This term is defined in the GIPS 2020 Exposure Draft as “The ratio of total POOLED FUND expenses to average net assets. The EXPENSE RATIO SHOULD NOT reflect TRANSACTION COSTS.” Key Points about This Term This term is new in the Global Investment Performance Standards (GIPS) vocabulary. Its use has come [...]

GIPS2020 Term – Expense Ratio2018-12-06T06:27:56+00:00

GIPS2020 Term – Crystallization Period

2018-12-05T12:03:22+00:00

#9 Crystallization Period Full Definition This term is defined  in the GIPS 2020 Exposure Draft as “The period over which PERFORMANCE-BASED FEES are considered earned by the FIRM or ASSET OWNER and can no longer be reversed under the terms of a CLAWBACK provision.  ” Key Points about This Term This is a new term in [...]

GIPS2020 Term – Crystallization Period2018-12-05T12:03:22+00:00

GIPS2020 Changes Series – #2 Firm Input Data and Calculation Methodology

2018-12-05T10:13:51+00:00

Overview The Input Data and Calculation Methodology section for Firms is the second section of the GIPS 2020 with the following key features: Unlike the old of the GIPS, that is the 2010 edition that had Input Data provisions separate from Calculation Methodology provisions, under the proposed new structure, these two have been [...]

GIPS2020 Changes Series – #2 Firm Input Data and Calculation Methodology2018-12-05T10:13:51+00:00

GIPS2020 Term – Clawback

2018-12-04T20:21:07+00:00

#7 Clawback Full Definition This term is defined as “The repayment of previously earned PERFORMANCE-BASED FEES resulting from subsequent underperformance.” in the GIPS 2020 Exposure Draft. Key Points about This Term This term is new in the GIPS although it is a common practice in the investment industry, particularly in the alternative investments sector. [...]

GIPS2020 Term – Clawback2018-12-04T20:21:07+00:00

GIPS2020 Term – Carried Interest Description

2018-12-04T17:27:03+00:00

#6 Carried Interest Description Full Definition This term is defined as “Information about the features of the CARRIED INTEREST calculation, such as the HURDLE RATE, CRYSTALLIZATION PERIOD, and LOSS CARRYFORWARDS. ” in the GIPS 2020 Exposure Draft. Key Points about This Term This term is fundamentally not new and mainly relates to what information to [...]

GIPS2020 Term – Carried Interest Description2018-12-04T17:27:03+00:00