What is the significance of an GIPS compliant (formerly AIMR-PPS) track record?
A non-AIMR or GIPS compliant track record may not be a reliable tool for comparing returns. The CFA Institute, Centre for Financial Market Inegrity promotes performance presentation standards. Firms not following these Global Investment Performance Standards could be presenting only selected accounts, omitting accounts that are no longer with the firm, failing to properly adjust returns for significant cash flows, or other return distorting omissions.