CFAI 2006 AM

[sam.cfa]

GIPS compliant advertisements should include BENCHMARK RE-BALANCING PROCESS? HUH? Where is it in Schweser?
Is it no longer in GIPS?

 

[Neveruse_95_ev]

don’t think so. Top of p. 332, V6… GIPS-compliant ad must present
- benchmark total returns, for same period
- description of benchmark
- (must be same one used in GIPS-compliant presentation)
- if no benchmark presented, must state “why not”
Good question though

 

[sam.cfa]

this is the trouble with CFA papers…..evrything is stale!

 

[Neveruse_95_ev]

can be tricky figuring out what we’re not longer responsible for

 

[naples111]

Its still in the there. Volume 6 page 313.

 

[sam.cfa]

HOLY SHIT! THNX!
CFAI: Page 311, Last 3 lines:
Funds using Custom Benchmarks should Disclose Benchmark Creation and Re-balancing Process.
WTF! Who on earth can remember such fine prints in CFA Text!?!?!

 

[June06]

I like this question. Beautiful GIPS in AM!