Explain what the GIPS standards require in presenting and reporting performance

A GIPS composite report must show at least five years of compliant performance, or since inception if shorter, adding a year each year until ten years are shown. For each annual period it presents composite and benchmark returns, composite assets, and total firm assets or the composite's share of them, plus the number of portfolios when there are six or more at year end and a measure of internal dispersion when at least six were present for the full year. It also shows the three-year annualised ex post standard deviation of composite and benchmark monthly returns once 36 months exist. Disclosures include the compliance statement, firm and composite descriptions, benchmark, fee schedule, gross or net basis and currency.