Ethical and Professional Standards Q143

0. IDC Asset Management Company has three funds: Premium Equity, Dynamic Bond Fund, and Small-Cap Growth Opportunities. The company claims GIPS compliance for Dynamic Bond Fund. IDC is defined as the firm. Assuming there is no distinction in the investment process or client type, is the claim for compliance accurate as per GIPS Standards?

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Option : B
Explanation : Since there is no distinction in the market or client type (institution/retail investors) and the investment process, partial compliance is not allowed. GIPS encourages firms to use the broadest definition of the firm.

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