Wrap fees GS Invitation to Comment[no draft confidential].ƒ

INVESTMENT PERFORMANCE COUNCIL (IPC) INVITATION TO COMMENT: Guidance Statement on Wrap Fee/Separately Managed Account Performance The Investment Performance Council (IPC) and CFA Institute seek comment on the proposals set forth below regarding the addition of a GIPS Guidance Statement to address the calculation and presentation of wrap fee/Separately Managed Account performance. For information on the Guidance Statement process, please see http://www.cfainstitute.org/standards/pps/process.html. Comments must be submitted in writing and be received by CFA Institute no later than 31 December 2004. All comments and replies will be put on the public record unless specifically requested. It is preferable that comments be submitted in electronic form with settings that do not restrict the ability to ‘cut-and-paste’ text from the comment letter. Comments are also accepted in hardcopy and should be addressed to: CFA Institute CFA Centre for Financial Market Integrity Reference: Guidance Statement on Wrap Fee/SMA Performance P.O. Box 3668 Charlottesville, Virginia 22903 Fax: +1-434-951-5320 E-mail: standardsetting@cfainstitute.org Effective Date This guidance statement will apply to all firms from the Effective Date forward. The proposed Adoption Date for this Guidance Statement is June 2005 and proposed Effective Date is 1 January 2006. Executive Summary In 1994, the AIMR-PPS Wrap Fee Subcommittee published guidelines that were ...