What are GIPS?

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Carl Bacon, CIPM explains the global investment performance standards

The CFA Institute (formally known as the Association for Investment Management and Research or AIMR) sponsored the creation of the Global Investment Performance Standards (GIPS)1 to provide an ethical framework for the calculation and presentation of the performance history (or track record) of asset management firms. GIPS are voluntary standards based on the fundamental principles of full disclosure and fair representation of performance returns.