Question
In a Large-Cap Value composite, why must a terminated fee-paying account remain included for its managed period?
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Answer
Removing poor performers would distort reported performance.
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Question
Why was GIPS created for the investment management industry?
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Answer
To make performance reporting fair, complete, and comparable.
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Question
What does fair representation mean under GIPS?
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Answer
Performance presented must not be misleading.
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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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