Complying with the Global Investment Performance Standards (GIPS) by Bruce J. Fe

Description: Complying with the Global Investment Performance Standards (GIPS) by Bruce J. Feibel, Karyn D. Vincent The first and only comprehensive explanation of GIPS, including how to comply with and implement them While 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. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description The first and only comprehensive explanation of GIPS, including how to comply with and implement them While 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. In this new book, that void is filled, and youll 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 todays turbulent investment environment. Chapters include information on GIPS fundamentals, performance composites, risk and dispersion measurement, and much moreExamples are provided throughout, and supplemental formulas make the book usable as a referenceProvides the detailed knowledge currently needed by a large group of investment professionals If youre in the field of finance, Complying with the Global Investment Performance Standards (GIPS) is a book you need to read. Back Cover Complying with the Global Investment Performance Standards (GIPS) While CFA Institute has published the Global Investment Performance Standards (GIPS) for years, there has never been an in-depth discussion of their implementation. With 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. Covering both the mathematics of relevant investment statistics and the policies and procedures for achieving and maintaining compliance, Complying with the Global Investment Performance Standards (GIPS) is a comprehensive guide to successfully using the GIPS standards in todays competitive environment. Divided into three engaging parts, this reliable resource contains: Information on GIPS fundamentals, performance composites, and risk and dispersion measurement Insights on presenting performance for nontraditional asset classes and investment vehicles Advice on how both money managers and their clients can benefit from independent verification Illustrated examples and supplemental formulas that make the book a usable reference source And much more If youre in the field of finance--as an institutional investor or as a manager that serves them-- Complying with the Global Investment Performance Standards (GIPS) is a book you need to read. Flap Complying with the Global Investment Performance Standards (GIPS) While CFA Institute has published the Global Investment Performance Standards (GIPS) for years, there has never been an in-depth discussion of their implementation. With 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. Covering both the mathematics of relevant investment statistics and the policies and procedures for achieving and maintaining compliance, Complying with the Global Investment Performance Standards (GIPS) is a comprehensive guide to successfully using the GIPS standards in todays competitive environment. Divided into three engaging parts, this reliable resource contains: Information on GIPS fundamentals, performance composites, and risk and dispersion measurement Insights on presenting performance for nontraditional asset classes and investment vehicles Advice on how both money managers and their clients can benefit from independent verification Illustrated examples and supplemental formulas that make the book a usable reference source And much more If youre in the field of finance--as an institutional investor or as a manager that serves them-- Complying with the Global Investment Performance Standards (GIPS) is a book you need to read. Author Biography Bruce J. Feibel 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 Investment Performance Measurement, 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. Karyn D. Vincent 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 firms 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. Table of Contents About the Authors xi Preface xiii Acknowledgments xv Introduction xvii PART ONE: Explanation of the GIPS Standards CHAPTER 1. Fundamentals of Compliance 3 Scope of the GIPS Standards 3 History of the GIPS Standards 4 Governance of the GIPS Standards 5 Organization of the GIPS Standards 7 Fundamentals of Compliance 8 Summary 12 CHAPTER 2. Defining the Firm and Composites 13 Defining the Firm 13 Defining Composites 23 Summary 50 PART TWO: The Methodology for Calculating Returns CHAPTER 3. Portfolio Return Measurement 53 Single Period Rate of Return 54 Time Value of Money 63 Performance of the Investor: Money Weighted Returns 67 Internal Rate of Return 71 Performance of the Investment Manager: Time Weighted Returns 77 Portfolio Return Calculations for the GIPS Standards 82 Summary 90 CHAPTER 4. Composite Return Measurement 91 Composite Constituents 91 Composite Returns 93 Single Period Composite Return Considerations 97 Multi-period Composite Returns 100 Summary 107 CHAPTER 5. Dispersion and Risk Measurement 109 Internal Dispersion 109 Equal Weighted Dispersion 111 Asset Weighted Dispersion 114 Risk 119 Summary 137 PART THREE: Reporting and Maintaining Compliance with the GIPS Standards CHAPTER 6. Disclosing and Advertising Composite Performance 141 Required Numerical Information 141 Required Disclosures 149 Length of Time for Disclosures 168 Presentation and Disclosure Recommendations 168 Supplemental Information 170 GIPS Advertising Guidelines 171 Summary 177 CHAPTER 7. Wrap-Fee/SMA, Private Equity, and Real Estate 179 Wrap-Fee/Separately Managed Accounts 180 Private Equity 188 Real Estate 198 Summary 203 CHAPTER 8. Maintaining Compliance with the GIPS Standards 205 Organization and Oversight 205 Return Calculation 211 Error Correction 215 Managing Composites and Presentations 220 Summary 226 CHAPTER 9. Verification 227 Verification 228 Performance Examinations 229 Verification Considerations 230 Required Verification Procedures 234 The Verifiers Report 241 Preparing for Verification 241 Summary 245 Index 247 Long Description Complying with the Global Investment Performance Standards (GIPS) While CFA Institute has published the Global Investment Performance Standards (GIPS) for years, there has never been an in-depth discussion of their implementation. With 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. Covering both the mathematics of relevant investment statistics and the policies and procedures for achieving and maintaining compliance, Complying with the Global Investment Performance Standards (GIPS) is a comprehensive guide to successfully using the GIPS standards in todays competitive environment. Divided into three engaging parts, this reliable resource contains: Information on GIPS fundamentals, performance composites, and risk and dispersion measurement Insights on presenting performance for nontraditional asset classes and investment vehicles Advice on how both money managers and their clients can benefit from independent verification Illustrated examples and supplemental formulas that make the book a usable reference source And much more If youre in the field of finance as an institutional investor or as a manager that serves them Complying with the Global Investment Performance Standards (GIPS) is a book you need to read. Details ISBN0470400927 Series Frank J. Fabozzi Series Year 2011 ISBN-10 0470400927 ISBN-13 9780470400920 Format Hardcover Subtitle The Global Investment Performance Standards DEWEY 332.6 Media Book Language English Series Number 175 Short Title FRANK J FABOZZI COMPLYING W/TH Illustrations Yes Edition 1st Pages 272 Publisher John Wiley & Sons Inc Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States AU Release Date 2011-08-09 NZ Release Date 2011-08-09 UK Release Date 2011-08-09 Author Karyn D. Vincent Publication Date 2011-08-26 Audience Professional & Vocational US Release Date 2011-08-26 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:137300200;

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