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dada · 2022年04月16日

balanced account

  1. CFA III
  2. GIPS

NO.PZ2022010501000018

问题如下：

Macondo Institutional Asset Management has been managing equity, fixed-income, and balanced accounts since 2007. The firm became GIPS-compliant on 1 January 2012 and has prepared GIPS Composite Reports using time- weighted returns for the 2007–2019 period. Fixed-income performance was poor prior to 2015, when a new team of managers was brought on board. When Jorge Garcia joins Macondo as marketing director in June 2020, he suggests showing performance starting with calendar 2015, the first year that performance started to improve. He proposes to show composites with returns for the five calendar years 2015 through 2019. Does this course of action comply with the GIPS standards?

解释：

The GIPS standards require that when a firm initially claims compliance with the GIPS standards, it must present at least five years of GIPS-compliant performance (or for the period since the composite inception date if 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 the composite inception date if the 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. In 2020, Macondo must present performance from 2010 through 2019. Macondo Institutional Asset Management thus cannot drop the years prior to 2015 at the time Garcia suggests it do so. In addition to violating a specific requirement, Garcia’s suggestion was not in the spirit of fair representation and full disclosure of performance. The firm may eliminate returns from more than 10 years ago from its GIPS Report, as long as it continues to show at least the most recent 10 years. It is recommended, however, that Macondo show its entire GIPS-compliant performance record.

GIPS 标准要求，当一家公司最初声称符合 GIPS 标准时，它必须提供至少五年的 GIPS 合规绩效（或者如果composite的存在时间少于五年，则在composite开始日期后的这段时间内）。在展示了至少五年的 GIPS 合规业绩（或自composite成立之日起的期间，如果composite成立不到五年），公司必须每年提供额外一年的业绩，累积到至少 10 年才符合 GIPS 标准的。因此在 2020 年，Macondo 必须展示 2010 年到 2019 年的业绩。Macondo 机构资产管理公司不能按照 Garcia 的建议不展示2015 年之前的年份业绩。除了违反特定要求外，Garcia的建议不符合公平代表和全面披露业绩的精神。该公司可以从其 GIPS 报告中剔除 10 多年前的回报，只要它至少继续显示最近 10 年。但是，建议 Macondo 显示其完整符合 GIPS 标准的业绩记录。。

balanced account什么意思？

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1 个答案

伯恩_品职助教 · 2022年04月17日

嗨，从没放弃的小努力你好：


你可以理解为混合账户

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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NO.PZ2022010501000018 问题如下 Macon InstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin2007. The firm became GIPS-compliant on 1 January 2012 anhprepareGIPS Composite Reports using time- weightereturns for the 2007–2019 perio Fixeincome performanwpoor prior to 2015, when a new teof managers wbrought on boar When Jorge Garcia joins Macon marketing rector in June 2020, he suggests showing performanstarting with calenr 2015, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2015 through 2019. es this course of action comply with the GIPS stanr? The GIPS stanr require thwhen a firm initially claims complianwith the GIPS stanr, it must present least five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performance. In 2020, Macon must present performanfrom 2010 through 2019. Macon InstitutionAsset Management thus cannot op the years prior to 2015 the time Garcia suggests it so. In aition to violating a specific requirement, Garcia’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. The firm meliminate returns from more th10 years ago from its GIPS Report, long it continues to show least the most recent 10 years. It is recommen however, thMacon show its entire GIPS-compliant performanrecor GIPS 标准要求，当一家公司最初声称符合 GIPS 标准时，它必须提供至少五年的 GIPS 合规绩效（或者如果composite的存在时间少于五年，则在composite开始日期后的这段时间内）。在展示了至少五年的 GIPS 合规业绩（或自composite成立之日起的期间，如果composite成立不到五年），公司必须每年提供额外一年的业绩，累积到至少 10 年才符合 GIPS 标准的。因此在 2020 年，Macon 必须展示 2010 年到 2019 年的业绩。Macon 机构资产管理公司不能按照 Garcia 的建议不展示2015 年之前的年份业绩。除了违反特定要求外，Garcia的建议不符合公平代表和全面披露业绩的精神。该公司可以从其 GIPS 报告中剔除 10 多年前的回报，只要它至少继续显示最近 10 年。但是，建议 Macon 显示其完整符合 GIPS 标准的业绩记录。。 有least5年了 所以也算是符合？

2024-08-09 17:23 1 · 回答

NO.PZ2022010501000018 问题如下 Macon InstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin2007. The firm became GIPS-compliant on 1 January 2012 anhprepareGIPS Composite Reports using time- weightereturns for the 2007–2019 perio Fixeincome performanwpoor prior to 2015, when a new teof managers wbrought on boar When Jorge Garcia joins Macon marketing rector in June 2020, he suggests showing performanstarting with calenr 2015, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2015 through 2019. es this course of action comply with the GIPS stanr? The GIPS stanr require thwhen a firm initially claims complianwith the GIPS stanr, it must present least five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performance. In 2020, Macon must present performanfrom 2010 through 2019. Macon InstitutionAsset Management thus cannot op the years prior to 2015 the time Garcia suggests it so. In aition to violating a specific requirement, Garcia’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. The firm meliminate returns from more th10 years ago from its GIPS Report, long it continues to show least the most recent 10 years. It is recommen however, thMacon show its entire GIPS-compliant performanrecor GIPS 标准要求，当一家公司最初声称符合 GIPS 标准时，它必须提供至少五年的 GIPS 合规绩效（或者如果composite的存在时间少于五年，则在composite开始日期后的这段时间内）。在展示了至少五年的 GIPS 合规业绩（或自composite成立之日起的期间，如果composite成立不到五年），公司必须每年提供额外一年的业绩，累积到至少 10 年才符合 GIPS 标准的。因此在 2020 年，Macon 必须展示 2010 年到 2019 年的业绩。Macon 机构资产管理公司不能按照 Garcia 的建议不展示2015 年之前的年份业绩。除了违反特定要求外，Garcia的建议不符合公平代表和全面披露业绩的精神。该公司可以从其 GIPS 报告中剔除 10 多年前的回报，只要它至少继续显示最近 10 年。但是，建议 Macon 显示其完整符合 GIPS 标准的业绩记录。。 老师您好，我有几个问题不理解，希望您能逐条回答，谢谢fixeincome是一个composite吗？感觉这个team可以自己做investment cision呀？它能不能说自己是GIPS compliant的？如果FI team是独立遵守GIPS的，中间2015年换了manager，是不是能从2015年开始报业绩，前面无所谓？

2024-07-18 08:48 2 · 回答

NO.PZ2022010501000018 问题如下 Macon InstitutionAsset Management hbeen managing equity, fixeincome, anbalanceaccounts sin2007. The firm became GIPS-compliant on 1 January 2012 anhprepareGIPS Composite Reports using time- weightereturns for the 2007–2019 perio Fixeincome performanwpoor prior to 2015, when a new teof managers wbrought on boar When Jorge Garcia joins Macon marketing rector in June 2020, he suggests showing performanstarting with calenr 2015, the first yethperformanstarteto improve. He proposes to show composites with returns for the five calenr years 2015 through 2019. es this course of action comply with the GIPS stanr? The GIPS stanr require thwhen a firm initially claims complianwith the GIPS stanr, it must present least five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years). After presenting a minimum of five years of GIPS-compliant performan(or for the periosinthe composite inception te if the composite hbeen in existenless thfive years), the firm must present aitionyeof performaneayear, builng up to a minimum of 10 years of GIPS-compliant performance. In 2020, Macon must present performanfrom 2010 through 2019. Macon InstitutionAsset Management thus cannot op the years prior to 2015 the time Garcia suggests it so. In aition to violating a specific requirement, Garcia’s suggestion wnot in the spirit of fair representation anfull sclosure of performance. The firm meliminate returns from more th10 years ago from its GIPS Report, long it continues to show least the most recent 10 years. It is recommen however, thMacon show its entire GIPS-compliant performanrecor GIPS 标准要求，当一家公司最初声称符合 GIPS 标准时，它必须提供至少五年的 GIPS 合规绩效（或者如果composite的存在时间少于五年，则在composite开始日期后的这段时间内）。在展示了至少五年的 GIPS 合规业绩（或自composite成立之日起的期间，如果composite成立不到五年），公司必须每年提供额外一年的业绩，累积到至少 10 年才符合 GIPS 标准的。因此在 2020 年，Macon 必须展示 2010 年到 2019 年的业绩。Macon 机构资产管理公司不能按照 Garcia 的建议不展示2015 年之前的年份业绩。除了违反特定要求外，Garcia的建议不符合公平代表和全面披露业绩的精神。该公司可以从其 GIPS 报告中剔除 10 多年前的回报，只要它至少继续显示最近 10 年。但是，建议 Macon 显示其完整符合 GIPS 标准的业绩记录。。 1.这样回答对吗？Yes. GIPS requires to show least 5 years' performance.If the life of the funis less th5 years, then sininception.2.这道题5年就够是因为他们的new pm team是2015才来的，所以相当于是inception. 所以2015开始其实是够的？

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