Since 2011, institutional investor capital has surged into the credit asset class. As a result, investors and their consultants demand greater transparency. Due to the principles of fair representation and full disclosure, firms are increasingly relying on compliance with the Global Investment Performance Standards (GIPS^®) as a competitive advantage. Firms may find that regulatory trends like the new SEC Marketing Rule and FINRA 20-21 make the possibility of GIPS compliance more applicable than in years past. The new SEC Marketing rule had a final compliance date of November 4, 2022 and included requirements around the presentation of performance to prospective investors.  

We have updated our 2019 white paper to provide the specific tasks that credit managers should focus on while working toward GIPS compliance and, for most managers, adopting the GIPS standards should be an enhancement to their current practices rather than a complete overhaul.