The 2020 GIPS Standards mountain road journey

The 2020 GIPS® Standards

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CFA Institute recently released the 2020 Global Investment Performance Standards (GIPS®) on June 28, 2019. The newest version represents the most significant changes since the 2010 edition of the GIPS standards went into effect on January 1, 2011. The updated GIPS standards are based on industry best practice and input received during the public comment period.


The effective date of the 2020 GIPS Standards is January 1, 2020. Firms are encouraged to early adopt at any time but must comply with all provisions of the 2020 GIPS Standards. Firms will effectively “flip a switch” when choosing when to comply with the 2020 GIPS Standards.

GIPS Compliance By The Numbers

ACA and eVestment 2018 Manager and Consultant Survey


of consultants expect to require alternative asset managers to comply with the GIPS standards


of consultants/investors believe more pension funds, foundations, endowments and other asset owners will claim compliance with the 2020 GIPS standards


of consultants/investors exclude managers from searches some or all of the time if they do not claim GIPS compliance


of alternative asset managers expect to see the industry start voluntarily complying with the GIPS standards

NEW! 2020 GIPS Compliance Gap Analysis

The 2020 GIPS Compliance Gap Analysis can assist you in assessing the impact of the 2020 GIPS standards for your GIPS-defined firm. ACA will gain an understanding of the current state of your GIPS compliance program through on-site interviews and a review of materials. ACA will then conduct the gap analysis by identifying each proposed change that will impact your firm and the effort required to meet the new 2020 requirements. Each gap analysis can be highly customized based on the firm. The 2020 GIPS Compliance Gap Analysis results in a summary report and project plan that will assist the firm in implementing the new changes in a seamless and efficient manner. 


For more information on the 2020 GIPS Compliance Gap Analysis, please fill out our contact form or call Christie Dillard at +1 (866) 279-0750.

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Thought Leadership

The 2020 GIPS Standards: Top Changes You Need to Know

The goal of the 2020 GIPS standards is universal adoption, acceptance, and support around the world. The recent changes attempt to accomplish this by allowing more applicability and flexibility for asset managers and asset owners alike. "The 2020 GIPS Standards: Top Changes You Need to Know" highlights a few of the initial key takeaways.

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The 2020 GIPS Standards: Opening Doors for Alternative Managers

Given the lack of standardization of investment reporting in the alternative manager universe, and the new, more flexible structure of the GIPS standards, we see adoption of the GIPS standards as a very real possibility for many alternative managers that may have never considered doing so.

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SEC Charges Investment Adviser in Connection with $105 Million Securities Fraud

On Tuesday, August 27, 2019, the U.S. Securities and Exchange Commission ("SEC") announced it had brought charges against an investment adviser in connection with a $105 million securities fraud in Pennsylvania. This enforcement action is the latest example of a market segment that is in need of greater transparency and better controls around performance reporting.

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Are Private Markets Managers Moving Towards GIPS Compliance?

Alternative investment strategies are seeing record inflows as investors look for higher yields in a low interest rate environment. In turn, there is an increased number of private fund managers and thus, more competition. In seeking a competitive edge, many alternative investment managers will benefit from the enhancements that the 2020 GIPS standards provide, leading to increased rates of adoption in the sector.

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$1 Billion Credit Mandate Seeking GIPS-Compliant Managers Leads to Increased Demand for GIPS Compliance in the Credit Space

New York State Insurance Fund (“NYSIF”) released an RFP seeking managers for up to $1 billion to be distributed across high yield corporate bonds, bank loans, CLOs, or some combination of all three asset classes. One of the minimum requirements in the RFP is that the firm have “a minimum of five years of verifiable GIPS-compliant performance history actively managing the proposed product for institutional clients.” This is another example in a string of RFPs in the last year showing increased demand from institutional investors for credit asset managers to claim GIPS compliance.

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Highlights from the 23rd Annual GIPS Standards Conference

The 23rd Annual GIPS Standards Conference, sponsored by CFA Institute, will be held in Scottsdale on September 11-12, 2019. Tune into ACA Performance Services' Chase Frei and Elena McKee-Dabbs as they discuss highlights from the conference including an update on the 2020 GIPS standards and other performance and regulatory topics.

On Demand

The GIPS Standards: Are You Ready for 2020?

Ready to get a jump start on how the 2020 GIPS Standards may impact your firm? ACA Performance Services’ Crista DesRochers and Gabe Glass highlight the material changes to the GIPS standards, including how the final version compares to the 2020 GIPS Standards Exposure Draft.

On Demand


Upcoming Events

The 2020 GIPS Standards for Alternative Managers

Join ACA Performance Services and K&L Gates for a complimentary discussion focused on the 2020 GIPS standards. During the presentation, panelists will discuss common industry misconceptions related to achieving GIPS compliance along with solutions for effective implementation of a compliant program.

Date: October 24, 2019
Time: 12:30 p.m. - 2:30 p.m. PT
Location: K&L Gates; 4 Embarcadero Center, San Francisco, CA