CHAPTER 33GIPS: Global Investment Performance Standards

THE REASON FOR GIPS

The Global Investment Performance Standards (GIPS) are a set of ethical and professional standards for the presentation of performance results that emerged from the work of the Association for Investment Management Research (AIMR), now known as the CFA Institute, and its European counterparts. The genesis of the standard were the AIMR-PPS standards in the United States, which were put together largely due to the widespread abuse of the presentation of statistical information in ways that were just short of illegal. We will not regale you with case studies of performance presentation abuses, but without the standards that did evolve money managers who were honest and ethical ...

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