First introduced in 1999, the Global Investment Performance Standards (GIPS) were designed and promulgated by the CFA Institute as a way of ensuring that investment managers report their performance in a consistent and transparent way.  A recent survey of investment managers and investment consultants looked at how many firms comply with GIPS and why.  This article summarizes the results of that survey and a related event.  In particular, this article discusses rates of GIPS compliance and verification among investment managers; manager perspectives on electing or eschewing GIPS compliance and verification; consultant and investor perspectives on GIPS compliance and verification; general trends in GIPS compliance; and the impact of those trends on hedge fund managers.  See also “Expert Panel Provides Roadmap for Hedge Fund Managers Looking to Present Performance in Compliance with GIPS,” Hedge Fund Law Report, Vol. 6, No. 30 (Aug. 1, 2013).