This year's annual GIPS® (Global Investment Performance Standards) conference was held in Boston, Massachusetts. The conference highlighted a number of important requirements for GIPS 2010. Speakers discussed firm best practices and potential issues implementing the new requirements. In addition, specific sessions were held for the implications of GIPS® to Real Estate/Private Equity and Hedge Funds.
Conference topics that generated many questions from the audience centered on the GIPS® 2010 requirements, specifically on the discontinuation of cash allocation to carve-outs. Attendees asked for clarification on implementation of carve-out requirements as well as pointers on how carve-out history should be handled. Another lively discussion focused on the Error Correction Guidance Statement. Error Correction Topics included discussions on what constitutes an error and the course of action to be applied. In addition, a lunch presentation was held to update attendees on the CIPM (Certificate in Investment Performance Measurement) program; topics covered were enrollment numbers, examination format and exam pass rates. It's worth noting that several members of the SS&C Sylvan team were among the first in the world to receive their CIPM certification in 2007 and found the CIPM material in the curriculum 100 percent relevant to what our clients are using Sylvan™ to do every day.
By complying with GIPS, asset managers are able to market their composites to their best advantage. A composite management system can help a firm automate their GIPS requirements, especially if the system is integrated with the firm's performance measurement system. Integration ensures that performance data flows through to composites, and updates made in one module are immediately reflected in the other. Sylvan™ is a market-leading performance measurement and attribution solution that provides a single database, user interface and reporting/analysis tool across performance measurement, composites and attribution.