Disclaimer
PPMS is only responsible for the processing of data through our software. Users are ultimately
responsible for the underlying valuations and transaction data that are loaded into PPMS, as
well as the resulting investment performance. After-tax investment performance is not designed
as a substitute for accounting documents such as Form 1099s. However, time-weighted, after-tax
performance may provide a useful comparison to unmanaged after-tax benchmarks for purposes of
assessing investment managers.
No software vendor can claim that their product is "in compliance with GIPS" because it is
really the investment manager's use of the product that determines whether composites have been
ethically and consistently constructed. However, it is believed that the PPMS software will
enable the calculation of individual portfolio after-tax performance in accordance with these
standards.
*GIPS™ is a trademark of CFA Institute (formerly AIMR, Association for Investment Management and Research).
