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Steve Wellard
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Sarah-Jane Purvis
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Global Investment Performance Standards (GIPS) Adopted in Russia
London, September 29, 2008 − The GIPS Executive Committee is pleased to announce that the National League of Management Companies has been endorsed as the official sponsor of the Global Investment Performance Standards (GIPS) in Russia.This country sponsor endorsement represents the 30th country to formally adopt the GIPS standards.The success of the GIPS standards is the result of an alliance of sponsors across Europe, North America, Asia-Pacific, and Africa. These key industry groups contribute significantly to promoting and developing the GIPS standards.
The GIPS standards, created and administered by CFA Institute, are voluntary and are based on the fundamental principles of full disclosure and fair representation of investment performance results. Global standardization of investment performance reporting gives investors around the world the additional transparency they need to compare and evaluate investment managers.
Jonathan Boersma, CFA, Executive Director of the GIPS standards commented, “The GIPS Executive Committee is pleased to have the National League of Management Companies (NLU) share the important role of promoting the GIPS standards in Russia. By becoming a country sponsor, the NLU will work to raise awareness of the GIPS standards. Their participation demonstrates a strong commitment to promoting global best practices.”
Dmitrij Alexandrov, President of the National League of Management Companies, said, “Becoming a country sponsor of GIPS is a great achievement for the NLU and a major step towards improving transparency for Russian investors to compare and evaluate investment managers. We are looking forward to promoting these global standards in Russia.”
Stefan Illmer, Chair of the GIPS Executive Committee and Director, Head of Client Reporting at Credit Suisse, said, “The GIPS standards provide a global standard for reporting investment performance, resulting in transparency for investors and a level playing field for managers that are competing for new business. As a sign that the GIPS standards continue to be adopted across the globe, the GIPS Executive Committee is pleased to welcome the NLU as the latest GIPS Country Sponsor.”
About the GIPS Executive Committee
The purpose of the nine-member Executive Committee
(EC) is to promote the adoption and implementation of a single
investment performance presentation standard – the Global Investment
Performance Standards (GIPS) – throughout the world as the common method
for calculating and presenting investment performance. The GIPS standards
are a set of ethical principles that establish a standardized,
industry-wide approach to how investment firms should calculate and
report their investment results to prospective clients. The EC serves as
the effective decision-making authority for the GIPS standards and
replaces the former Investment Performance Council (IPC).
CFA Institute
CFA Institute is the global association for investment
professionals. It administers the CFA and CIPM curriculum and exam
programs worldwide; publishes research; conducts professional development
programs; and sets voluntary, ethics-based professional and
performance-reporting standards for the investment industry. CFA
Institute has more than 96,000 members, who include the world’s 82,809
CFA charterholders, in 133 countries and territories, as well as 136
affiliated professional societies in 57 countries and territories. More
information may be found at www.cfainstitute.org. (Bloomberg users can find CFA
Institute at 497458Z).