[Verse 1] Investment firms collect their portfolios like puzzle pieces Group them tight by strategy, make composites that release Similar mandates clustered, large cap growth in one basket Small cap value in another, sorted clean, no need to ask it Time-weighted returns tell the story, strip away the client cash flows Money-weighted shows the dollar impact when the portfolio grows [Chorus] GIPS standards guide the way, Global Investment Performance Firm-wide composites display, professional adherence Time-weighted pure, money-weighted sure Both methods have their place Minimum five years to show, benchmarks help the numbers glow Verification brings the grace [Verse 2] Present your track record clearly, five years minimum to start Unless the firm is younger, then you show your beating heart Include a benchmark index, let investors make compare Gross and net returns both matter, fees disclosed with proper care Dispersion shows the spread between your best and worst account Internal dispersion metrics help the story truly count [Chorus] GIPS standards guide the way, Global Investment Performance Firm-wide composites display, professional adherence Time-weighted pure, money-weighted sure Both methods have their place Minimum five years to show, benchmarks help the numbers glow Verification brings the grace [Bridge] Real estate needs special treatment, appraisals every quarter Private equity longer holding, cash flows like flowing water Independent verification, third party checks your claims GIPS compliant firms wear badges, trust-building in the games [Verse 3] Terminated portfolios stay until the year-end closes Can't just cherry-pick the winners, honesty the standard chooses Carve-outs need their own allocation, overhead costs assigned Bundled fees require breakdown, transparency refined [Chorus] GIPS standards guide the way, Global Investment Performance Firm-wide composites display, professional adherence Time-weighted pure, money-weighted sure Both methods have their place Minimum five years to show, benchmarks help the numbers glow Verification brings the grace [Outro] From composites to disclosures, GIPS builds investor trust Calculation consistency, verification is a must
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