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Navigating Global Investment Performance Standards

What is GIPS compliance?

Deloitte provides a wide range of services related to global investment performance management, including GIPS compliance standards consulting services, GIPS compliance verification, and other performance measurement and reporting.

The evolving marketplace, the industry’s response

The worldwide market for financial services is evolving rapidly. The years ahead will likely look very different than they do today. In particular, the demand for increased transparency and fair representation of investment performance results will continue to be more important than ever. Many investors are actively seeking reliable, credible, and timely investment performance data as a basis to compare investment managers globally.

The Global Investment Performance Standards (GIPS®) have been designed to promote the fundamental principles of fair representation and full disclosure of performance results. The mission of the GIPS standards is to build a level field of comparison by standardizing the way investment managers calculate and present performance to prospective and continuing clients.

The GIPS standards provide a globally recognized symbol of credibility, integrity, and uniformity of investment performance results as well as act as a global “passport,” allowing firms to enter the global investment management arena. This dynamic set of standards continually evolves to address current trends within the investment industry.

Countries throughout North America, Europe, Africa, and Asia have adopted the GIPS standards, encouraging investment management firms to follow the standards when calculating and reporting their performance results. With GIPS 20/20 underway, the adoption of the GIPS standards will continue to increase, and the application of the GIPS standards will become more widespread—particularly among alternative investments and the pooled funds.

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Deloitte can help

Our dedicated team of professionals provides a wide range of services related to GIPS compliance standards, GIPS compliance verification, and other performance measurement related areas.

Global resources, locally directed. Our local resources leverage dedicated GIPS eminence centers throughout North America, Europe, and Asia, helping our clients learn of developing local and international trends and issues. Via the network of member firms of Deloitte Touche Tohmatsu Limited in several countries around the globe, we have access to a deep pool of resources with significant experience in providing investment performance services.

Industry excellence. Nearly 2,000 US partners, managers, and staff provide a spectrum of assurance and advisory, tax, enterprise risk, regulatory, and consulting services to a broad range of investment management companies. Our clients include investment advisers and administrators from every sector of the industry, including investment managers, broker-dealers, banks, insurance companies, mutual funds, investment partnerships, hedge funds, alternative products, and other money managers.

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GIPS 20/20: Observations on the approaching standards update

The CFA Institute’s planned publishing of the GIPS 20/20 Exposure Draft (Draft) in early 2018 will be a milestone in the “updating, revising, and reimagining” of the GIPS. It will provide a first look at the proposed refresh of current GIPS standards adopted in 2010.

In July 2017, the institute closed the industry comment period on the GIPS 20/20 consultation paper, a precursor to the pending Draft.

From our review of the consultation paper, we have identified several provisions and issues that investment managers may want to monitor:
  • GIPS adoption is widespread, with gaps
  • Look for asset-class streamlining
  • Return-requirement flexibility is in the offing
  • Total assets could embrace adviser assets
  • GIPS-compliant presentations may extend to asset manager’s existing clients
  • More options could be available to claim GIPS compliance
  • Changes could come to disclosure requirements
  • Changes for measuring performance are under consideration
  • GIPS: evolving standards for the dynamic investment industry

For details about these observations, read our full report.

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Get in touch

Brenda A. Di Leo

Brenda A. Di Leo

Managing Director | Deloitte & Touche LLP

Brenda serves as the national Investment Performance Services leader. She focuses on global investment performance standards (GIPS®) advisory and attest services, including readiness assessments, firm... More

Rich Doyle

Rich Doyle

Senior Manager | Deloitte & Touche LLP

Rich leads investment performance engagements, including global performance examinations and global investment performance standards (GIPS) verifications. His GIPS experience includes readiness and pr... More