Gb08_engl Umschlag:GB 2005 - DVFA

activities of the committees
Committee Investment Performance Standards
Asset Management_
In 2008, the Committee Investment Performance Standards (IPS) of the “Germany Asset
Management Standards Committee” continued to focus on the German translation of the
GIPS, and on revision of the standards themselves.
Work on translation of the GIPS into German was successfully completed in 2008. The
Executive Committee of the international GIPS organisation approved the translation
on 08 December 2008.
A complete revision of the Global Investment Performance Standards is set to enter into
force on 01 January 2011, under the name GIPS 2010. In addition to the international
GIPS subcommittees, other bodies such as national performance commissions were
involved in the revision. In a first step, five working groups within the Investment Performance
Standards Committee (IPS) of the German Asset Management Standards
Committee (GAMSC) completed a full review of the GIPS. The resulting amendment proposals
of the working groups were then discussed in several phases, and presented as
a table comparing the existing version and the proposed changes. The amendments
were submitted to the GAMSC for approval, and subsequently forwarded by the GAMSC
to the Executive Committee of the GIPS organisation.
After completion of this work, the IPS created two working groups (“Leverage” and “Assets
under Management”), to address enquiries from the asset management industry. In a
sense, the two topics are closely related to one another, because the basis for performance
measurement is not always clearly defined, especially for leverage products. At
the same time, however, there are significant differences in the areas of focus, since
the definition of “assets under management” is imprecise, both in relation to leverage
products and other constructions.
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