开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

mia · 2021年09月11日

所以从成立以来批漏了5年的performance到底对不对呢？答案没看到是violate还是align with GIPS呢

  1. CFA III
  2. GIPS

NO.PZ2016031101000024

问题如下：

Bentwood Institutional Asset Management has been managing equity, fixed-income, and balanced accounts since 1986. The firm became GIPS-compliant on 1 January 2001 and prepared composite performance presentations for the 1996-2000 period. Fixed-income performance was poor prior to 2001, when a new team of managers was brought on board. When Christopher Cooper joins Bentwood as marketing director in June 2006, he suggests showing performance starting with calendar 2001, the first year that performance started to improve. He proposes to show composites with returns for the five calendar years 2001 through 2005. Does this course of action comply with the GIPS standards?

选项：

解释：

The GIPS standards require that at least five years of GIPS-compliant performance be reported (or for the period since firm’s inception or the composite inception date if the firm or the composite has been in existence less than five years). After presenting a minimum of five years of GIPS-compliant performance (or for the period since firm’s inception or the composite inception date if the firm or composite has been in existence less than five years), the firm must present an additional year of performance each year, building up to a minimum of 10 years of GIPS-compliant performance (I.5.A.1a). Bentwood Institutional Asset Management could not drop the years prior to 2001 at the time Cooper suggests it do so. In addition to violating a specific requirement, Cooper’s suggestion was not in the spirit of fair representation and full disclosure of performance. Technically, the firm will be able drop the early years of its composite presentation once it has established a 10-year GIPS-compliant record, as long as it continues to show at least the most recent 10 years. For instance, it will be able to show just the 10 calendar years 2001-2010 after the composite returns for 2010 become available. However, it is recommended that Bentwood show its entire GIPS-compliant performance record (I.5.B.7). (See Sections 3.12 and 3.13 of the reading.)

所以从成立以来批漏了5年的performance到底对不对呢？答案没看到是violate还是align with GIPS呢

添加评论
1 个答案

伯恩_品职助教 · 2021年09月11日

嗨，爱思考的PZer你好：


同学是volate的。


然后这个意思是什么呢，打个比方2021年我现在宣称我遵守GIPS了（公司成立在比如2008年吧，哪年不重要，只要是在宣称遵守GIPS的5年前成立的就行），先要出示前5年的业绩（就是要出示从2017年到现在的），然后每一年都要增加今年的业绩。这样2022年初的时候就是6年了，2023年初就是7年了。一直到2027年初的时候，刚好是10年，但是在2028年怎么办呢？2017的业绩就可以不用要了，只保留2018年到2017年的就可以。就是展示至少10年的业绩。刚宣传的时候只要出示之前5年的就行，然后每年增加，直到保持10年的业绩就可以了。这样理解了吗？

如果是2020年成立的公司，2021年宣称遵守GIPS，那么公司都没有5年的历史，当然也拿不出5年的历史业绩，那就有多少年就拿多少年的历史业绩。

----------------------------------------------
就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

  • 1

    回答

  • 0

    关注

  • 473

    浏览
相关问题

NO.PZ2016031101000024 BentwooInstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin1986. The firm became GIPS-compliant on 1 January 2001 anpreparecomposite performanpresentations for the 1996-2000 perio Fixeincome performanwpoor prior to 2001, when a new teof managers wbrought on boar When Christopher Cooper joins Bentwoomarketing rector in June 2006, he suggests showing performanstarting with calenr 2001, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2001 through 2005. es this course of action comply with the GIPS stanr? The GIPS stanr require thleast five years of GIPS-compliant performanreporte(or for the periosinfirm’s inception or the composite inception te if the firm or the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinfirm’s inception or the composite inception te if the firm or composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performan(I.5.A.1a). BentwooInstitutionAsset Management coulnot op the years prior to 2001 the time Cooper suggests it so. In aition to violating a specific requirement, Cooper’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. Technically, the firm will able op the early years of its composite presentation onit hestablishea 10-yeGIPS-compliant recor long it continues to show least the most recent 10 years. For instance, it will able to show just the 10 calenr years 2001-2010 after the composite returns for 2010 become available. However, it is recommenthBentwooshow its entire GIPS-compliant performanrecor(I.5.B.7). (See Sections 3.12 an3.13 of the reang.) After presenting a minimum of five years of GIPS-compliant performan(or for the periosinfirm’s inception or the composite inception te if the firm or composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performance. 请问老师这句话什么意思？到底是五年还是十年？好晕

2021-07-24 15:43 1 · 回答

BentwooInstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin1986. The firm became GIPS-compliant on 1 January 2001 anpreparecomposite performanpresentations for the 1996-2000 perio Fixeincome performanwpoor prior to 2001, when a new teof managers wbrought on boar When Christopher Cooper joins Bentwoomarketing rector in June 2006, he suggests showing performanstarting with calenr 2001, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2001 through 2005. es this course of action comply with the GIPS stanr? The GIPS stanr require thleast five years of GIPS-compliant performanreporte(or for the periosinfirm’s inception or the composite inception te if the firm or the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinfirm’s inception or the composite inception te if the firm or composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performan(I.5.A.1a). BentwooInstitutionAsset Management coulnot op the years prior to 2001 the time Cooper suggests it so. In aition to violating a specific requirement, Cooper’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. Technically, the firm will able op the early years of its composite presentation onit hestablishea 10-yeGIPS-compliant recor long it continues to show least the most recent 10 years. For instance, it will able to show just the 10 calenr years 2001-2010 after the composite returns for 2010 become available. However, it is recommenthBentwooshow its entire GIPS-compliant performanrecor(I.5.B.7). (See Sections 3.12 an3.13 of the reang.) 我记得好像是展示7年合规业绩即可？为何是十年呢？可否麻烦助教帮忙提供一下七年的规定是哪一条，谢谢！

2020-11-04 14:46 1 · 回答

BentwooInstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin1986. The firm became GIPS-compliant on 1 January 2001 anpreparecomposite performanpresentations for the 1996-2000 perio Fixeincome performanwpoor prior to 2001, when a new teof managers wbrought on boar When Christopher Cooper joins Bentwoomarketing rector in June 2006, he suggests showing performanstarting with calenr 2001, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2001 through 2005. es this course of action comply with the GIPS stanr? The GIPS stanr require thleast five years of GIPS-compliant performanreporte(or for the periosinfirm’s inception or the composite inception te if the firm or the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinfirm’s inception or the composite inception te if the firm or composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performan(I.5.A.1a). BentwooInstitutionAsset Management coulnot op the years prior to 2001 the time Cooper suggests it so. In aition to violating a specific requirement, Cooper’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. Technically, the firm will able op the early years of its composite presentation onit hestablishea 10-yeGIPS-compliant recor long it continues to show least the most recent 10 years. For instance, it will able to show just the 10 calenr years 2001-2010 after the composite returns for 2010 become available. However, it is recommenthBentwooshow its entire GIPS-compliant performanrecor(I.5.B.7). (See Sections 3.12 an3.13 of the reang.) 老师 这道题目为何不对？题干不是说的 2006年要展示业绩，往前追溯五年吗？协会要求至少五年不是就可以吗？2001年到2005年的没问题吧

2020-09-17 16:21 1 · 回答