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Made-Off Capital is currently GIPS compliant. In its regular review, the compliance people discover that one of its five commingled funds had improperly calculated its
Made-Off Capital is currently GIPS compliant. In its regular review, the compliance people discover that one of its five commingled funds had improperly calculated its returns according to the money-weighted method rather than the compliant time-weighted method. Management suggests that Made-Off add a statement in the disclosures that the shop is GIPS compliant with the exception of that one fund. Explain whether that is an acceptable remedy for the situation.
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