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Absolute PPP states that exchange rates depend on differences in absolute price levels in different countries. Under absolute PPP, exchange rates move to equalize the prices of identical market baskets in different countries. That is, the exchange rate b
Application of the AIMR-PPS Standards
The AIMR-PPS standards state that the performance results of a past firm or affiliation cannot be used to represent the historical record of a new firm entity. This requirement is especially true for HM because the prior performance record cannot be sole
The AIMR-PPS standards require that composites must exclude terminated portfolios after the last full performance measurement period the portfolios were under management, but composites must continue to include terminated portfolios for all periods prior
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