Stepping Toward Standardization: A Guide for GIPS-Related RFP Questions

Categories: Global Investment Performance Standards (GIPS®), Performance Measurement & Evaluation
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The basic principle and fundamental motivation in creating the GIPS standards — now officially adopted in 35 countries around the globe — is investor protection, and empowering those who advise investors with the key elements to analyze investment performance results in a comparative method.

As the GIPS standards have evolved over the past 15 years, many GIPS-related questions on requests for proposals (RFPs) have not. Indeed, outdated and incorrect questions are still prevalent in consultant databases, questionnaires, and RFPs. To provide investors and consultants with the correct questions to include in RPFs and databases, CFA Institute and GIPS committee volunteers have created the GIPS Model RFP Template that provides suggested standardized questions. The GIPS Model RFP Template is intended to improve transparency and better inform investors and consultants with:

  • Key details involved in drafting and responding to GIPS-related RFP questions
  • GIPS compliance and verification facts
  • Policies and procedures facts
  • Eliminating incorrect and invalid questions from RFPs
  • A suggested set of standardized questions to include in the GIPS-related section of RFPs

To facilitate a more streamlined process and ease the burden of the RFP process (as it relates to the GIPS standards), the template provides guidance and clarity on the “right” questions to ask investment management firms.


Photo credit: @iStockphoto.com/TommL

2 comments on “Stepping Toward Standardization: A Guide for GIPS-Related RFP Questions

  1. Cindy Kent said:

    Thank you for your feedback. We appreciate your comments that more tools regarding GIPS compliance and verification would be helpful. In collaboration with our committee volunteers, we are committed to developing outreach and encourage you to also visit the following areas of the GIPS standards website for the following items:

    Verification Explained – Frequently Asked Questions: http://www.gipsstandards.org/compliance/Pages/verification.aspx
    Becoming Compliant – Getting Started: http://www.gipsstandards.org/compliance/Pages/about.aspx
    Resources: Articles and Multimedia About Compliance: http://www.gipsstandards.org/compliance/Pages/articles.aspx
    What Investors Need to Know About GIPS Compliance: http://www.gipsstandards.org/compliance/Pages/need_to_know_about_gips_standards.aspx

    We continue to develop guidance, tools, and white papers regarding the GIPS standards and look forward to their promotion.

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