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D. Performance Presentation.
#analyst-notes #code-of-ethics-and-standards-of-professional-conduct #iii-duties-to-clients

Procedures for compliance

Misrepresentations about investment performance of the firm can be avoided if the member maintains data about the firm's investments performance in written form and understands the classes of investments or accounts to which those data apply and the risks and limitations inherent in using such data. In analyzing information about the firm's investment performance, the member should ask the following questions:

  • How many years of past performance does this information reflect?
  • Does it reflect performance for the prior year only, after several years of poor performance, or an average of several years of performance?
  • Has the performance been measured in accordance with CFA Institute's standards?
  • Does investment performance vary widely among different classes of funds or accounts? If so, the member must describe investment performance by classes rather than by an overall average figure and accurately explain what the performance figures represent.

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