The Value of GIPS Compliance 2018 Survey

2018 Manager and Consultant Survey

As the Global Investment Performance Standards (GIPS®) gain more acceptance and international adoption, and with CFA Institute expected to release GIPS 2020 for public comment soon, there are frequent questions about the current state of GIPS compliance.

  • Who claims compliance with the GIPS standards and why?
  • Who receives independent third-party verifications?
  • What value do consultants and investors place on compliance with the GIPS standards?

To address these questions, eVestment and ACA Performance Services conducted an industry survey focusing on various stakeholders’ perspectives on the value of GIPS compliance. We originally co-sponsored a survey on GIPS compliance in 2009, and conducted the survey again in 2012 and 2014. The 2018 report is the fourth update on industry-wide views of GIPS compliance.

The survey was sent to three groups: traditional asset managers, alternative asset managers (private equity managers and hedge fund managers), and consultants/investors. The asset manager surveys were sent to all active managers that voluntarily input data into eVestment’s traditional and alternative asset databases as of June 26, 2018. The asset manager population was unbiased with respect to size: assets under management (AUM) of those receiving the survey ranged from less than $100 million to over $1 trillion. The consultant/investor survey was sent to consultants and investors who subscribe to eVestment’s database.

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