Get Ready for 2010!
Laurent Delrieu, StatPro,
Composite Architect
On the GIPS Standard web site
you can read:
Remember the following GIPS provisions are
effective 1 January 2010:
1.A.3 For periods beginning 1
January 2010, FIRMS MUST value PORTFOLIOS on the date of all LARGE
EXTERNAL CASH FLOWS.
1.A.4 For periods beginning 1 January 2010, FIRMS MUST
value PORTFOLIOS as of the calendar month-end or the last business
day of the month.
2.A.6 For periods beginning 1 January 2010, COMPOSITE
returns MUST be calculated by asset weighting the individual
PORTFOLIO returns at least monthly.
3.A.7 For periods beginning 1 January 2010, CARVE-OUT
returns are not permitted to be included in single asset class
COMPOSITE returns unless the CARVE-OUTS are actually managed
separately with their own cash balances.
In addition, the
Error Correction Guidance Statement (PDF) is effective 1
January 2010. »
…and twelve additional revisions will become
effective from 1 January 2011.
StatPro Composites is
ready
Thanks to StatPro all this has been largely
anticipated in Composites. New features
were added to version 5.20 so that you can get or maintain
your GIPS compliance including meeting the above GIPS 2010
provisions, with minimal effort. Composites 5.20 is already used by
20 clients and is proving itself to be a great time saver. If
you are not yet using this version and want to be ready for GIPS
2010 then upgrade early! Don’t get caught in the rush.
New from the labs
Composites 7 is currently in development and
will hit the market in Q2 2010. Its main drivers are hosting and
scalability to volumes never before achieved by a GIPS application.
Version 7 will further broaden the market for Composites to, on the
one hand, smaller asset managers with little IT infrastructure that
can’t afford an in-house system and on the other hand,
massive private banking firms with huge numbers of accounts which
want to lower the cost of achieving/maintaining GIPS compliance.
Exciting isn’t it?
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