Question
Who can claim GIPS compliance?
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Answer
Only investment management firms managing client assets.
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Question
In GIPS performance presentations, why must a terminated composite remain in the historical record?
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Answer
To preserve fair and complete performance history.
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Question
Can a GIPS-compliant firm exclude a composite just because it has been closed for several years?
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Answer
No. Closed composites stay in historical records.
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Question
If a GIPS-compliant firm removes a closed, underperforming composite from past results, what principle is undermined?
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Answer
Fairness and completeness of GIPS presentations.
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