According the GIPS standards, for periods beginning on or after 1 January 2011, the aggregate fair value of total firm assets most likely includes all:
A. fee-paying discretionary accounts.
B. fee- and non–fee-paying discretionary accounts.
C. fee- and non–fee-paying discretionary and non-discretionary accounts.
Aabhas Verma01The Official Nerd
Ethics
Share
Firm’s AUM must include the total MV of Discretionary and Non-Discretionary including fee-paying and non fee-paying accounts. This was dictated in class.
So answer should be Option C. What’s the answer?
Ohh. Non- discretionary accounts are included?
Yes, they are included in the Firm’s AUM but they are not included in any composite.
Yes yes. I got confused with the composite part and mistook it that way. Thank you for answering.
Why the non-discretionary portfolios are not included in the composites? Could you please explain.