UAIB-UTFA GIPS Working group members presented GIPS in Almaty

The GIPS standards were presented successfully at the 5-th Annual  International Conference on Risk Management which was held on 15-16 April 2009 in Almaty. Liudmyla Zhurakhovska, Ukrainian RIPS EMEA Representative and the Chairman of UAIB-UTFA GIPS Working Group, and Stanislav Zhurakhovskiy, the working group member, both the authors of the official Ukrainian and Russian translations of GIPS endorsed by the CFA Institute, provided a special seminar for delegates of more than 30 countries.

Regarding Key Issues in GIPS 2010, such Proposed Revisions for 1 January 2010 were discussed at the International GIPS Meeting in Dublin this year, according to Ms Zhurakhovska:

• Must value portfolios on date of all large external cash flows (1.A.3)
• Must value portfolios as of the calendar month-end of last day of month or last business day of month(1.A.4)
• Composite returns must be calculated by asset weighting the individual portfolio returns at least monthly (2.A.6)
• Carve-out returns are not permitted in single asset class composite returns unless actually managed separately with own cash balances (3.A.7).