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Global Investment Performance Standards
The Global Investment Performance Standards (GIPS®) is a set of standardized, industry-wide ethical principles that provide investment firms with guidance on how to calculate and report their investment results to prospective clients.
History of the AIMR-PPS and GIPS standards
1993: AIMR Performance Presentation Standards (AIMR-PPS) created by AIMR, the predecessor to CFA Institute.
1999: Global Investment Performance Standards (GIPS) created and overseen by the Investment Performance Council (IPC).
2006: AIMR-PPS standards dissolved and merged with the GIPS standards. GIPS Executive Committee replaces IPC.
Find out about:
- The AIMR-PPS standards
- The convergence from the AIMR-PPS standards to the GIPS standards (PDF)
- Modifications to the AIMR-PPS after-tax provisions (PDF)
- The work of the IPC
- The history and future of GIPS (PDF)
Get answers to your questions with the AIMR-PPS database (these Q&As apply only for historical compliance purposes). See the GIPS Q&A database for more guidance on the GIPS standards.
The GIPS standards were based on and preceded in North America by the AIMR Performance Presentation Standards (AIMR-PPS). The AIMR-PPS standards were created in 1993 by AIMR, the predecessor to CFA Institute.
On 4 February 2005, the CFA Institute Board of Governors approved the revised GIPS standards, which created a single global standard of investment performance reporting and increased minimum standards worldwide. The revised GIPS standards represent the most comprehensive and significant upgrade since their introduction in 1999.
Adopting the GIPS standards and the Role of CFA Institute
CFA Institute created and administers the GIPS standards and partners with local country sponsors around the world to promote the GIPS standards. The success of the Standards is the result of an alliance among experts within the global investment industry and partnerships with country sponsors. CFA Institute, through its United States Investment Performance Committee (USIPC), is the country sponsor of the GIPS standards for the United States.