Somerset,
NJ – April 7, 2004. The Spaulding Group (TSG) has completed its
first luncheon series, which addressed the proposed changes to the
Global Investment Performance Standards (GIPS®), which will directly
impact the AIMR Performance Presentation Standards (AIMR-PPS®).
Luncheons were held in New York, Boston, Chicago, Los Angeles, and
San Francisco.
TSG's president, David Spaulding, reviewed the key changes to the
standards and offered commentary on some of the more significant items.
Dave is a member of the Investment Performance Council (IPC) which
oversees GIPS; the IPC's Interpretation Standards Subcommittee, which,
as its name suggests, is involved with offering interpretative guidance;
and the AIMR-PPS Implementation Committee, which is responsible for
the AIMR-PPS Standards.
Because the AIMR-PPS is now a Country Version of GIPS (CVG), any change
to GIPS affects the AIMR-PPS. "Gold" GIPS is a process to
eventually move away from individual country standards, onto a single
standard which is universally accepted. The draft, which is available
from The Spaulding Group as well as from the AIMR website (www.AIMR.org),
is open to public comment until 1 August 2004.
"We decided to hold these luncheons because of the significant
impact these proposed changes will have on the AIMR-PPS," said
David Spaulding. "Unfortunately, many U.S. and Canadian managers
don't understand the relationship between the AIMR-PPS and GIPS –
for example, if you're compliant with the AIMR-PPS, you're also compliant
with GIPS. And some of these changes will have huge affects on the
firms claiming compliance with the AIMR-PPS."
TSG is planning to host other luncheons in the future. In addition,
the firm's monthly newsletter will continue to offer commentary on
"Gold" GIPS. For information, contact Patrick Fowler (732-873-5700;
PFowler@SpauldingGrp.com) .
The
Spaulding Group, Inc. is an information provider and management consulting
firm that serves the money management industry in the areas of performance
measurement and reporting, computer technology, operations, and marketing.
TSG publishes The
Journal of Performance Measurement®, a quarterly publication
they launched in 1996, and hosts the Performance Measurement Forum.
Through its Institute of Performance Measurement, the firm offers
performance measurement training, including a two-day
introductory course on performance measurement, a one-and-a-half-day
course on performance attribution, and a one-day performance measurement
course for plan sponsors and consultants. TSG also hosts an annual
Performance Measurement,
Attribution and Risk Conference (PMAR™) scheduled for May
19-20, 2003 in New York City.The company was founded in 1990 by David
Spaulding and provides performance resources to financial institutions
throughout the world. Other details about TSG's services may be obtained
from its website: www.SpauldingGrp.com.
