In the spring of 2005, The Spaulding Group conducted its sixth survey on the Performance Presentation Standards. We first published this research in 1993, with a goal of ascertaining how money managers were responding to the Association for Investment Management and Research’s first version of the AIMR-PPS®. In 1995, we broadened the scope to include questions aimed at two other groups: verifiers and investment consultants. In 1997, we added plan sponsors to the target firms for our research. With the advent of the GIPS Standards, our three most recent versions of the survey, conducted in 2000, 2002 and 2005, focused on both GIPS and the various country-specific standards, including the AIMR-PPS. The 2005 version of the survey focuses on two target audiences: money managers and verifiers. It is our most comprehensive edition of this research, and the timing seems to be perfect – we are now only days away from the effective date of the latest revision of the GIPS standards, which will usher in a new era of standards convergence and also will begin the twilight period for the AIMR-PPS. Many of the findings in this research indicate that the industry is more than ready to make this significant move.