GIPS Standards for Fiduciary Management Providers to UK Pension Schemes
GIPS Standards for Fiduciary Management Providers to UK Pension SchemesView the standards (PDF)
The mission of the Global Investment Performance Standards (GIPS®) for Fiduciary Management Providers (FMPs) to UK Pension Schemes is to promote ethics and integrity and instill trust by achieving comparability of performance by fiduciary management providers when presenting historical performance to prospective pension scheme trustee clients, and support from regulators for the ultimate benefit of the investment community.
Organizations that adhere to investment performance standards help assure investors and beneficiaries that the fiduciary management provider’s investment performance is complete and fairly presented. Both prospective and existing clients of fiduciary management providers benefit from an investment performance standard by having a greater degree of confidence in the performance information presented to them.
View the letter from the CMA approving the GIPS standards for Fiduciary Management Providers to UK Pension Schemes in accordance with Article 10 of the Order.
* The GIPS Standards for FMPs are only applicable to those organizations that meet the definition of a fiduciary management provider in The Investment Consultancy and Fiduciary Management Market Investigation Order 2019 (PDF).
Explanation of the Provisions
- Explanation of the Provisions in Section 31 - Fundamentals of Compliance (PDF)
- Explanation of the Provisions in Section 32 - Input Data and Calculation Methodology (PDF)
- Explanation of the Provisions in Section 33 - Composite Maintenance (PDF)
- Explanation of the Provisions in Section 34 - GIPS Composite Report (PDF)
- Explanation of the Provisions in Sections 31-34 – Combined (PDF)
Tools and Resources
Value to the UK Pension Market
The GIPS Standards for FMPs offer key benefits to the United Kingdom's pension market.
Promote pension scheme trustee interests and instill pension scheme trustee confidence.
Ensure accurate and consistent data.
Promote fair competition among fiduciary management providers.
Fiduciary management providers to UK pension schemes must notify CFA Institute of their compliance with the GIPS Standards for FMPs by 30 June, with data as of 31 December.
Firms Claiming Compliance with the GIPS Standards for Fiduciary Management Providers to UK Pension Schemes
These firms have notified CFA Institute of their claim of compliance with the GIPS standards for FMPs and have given permission to publish their firm name on our website here. This list is for informational purposes only. CFA Institute does not endorse the firms included on this list or engage in review, enforcement, or quality control of a firm’s claim of compliance with the GIPS standards. CFA Institute does not represent or verify that these firms are actually in compliance. Read our full disclaimer.
BlackRock Investment Management (UK) Limited
BMO Asset Management Limited
Cardano Risk Management Limited
Charles Stanley Asset Management
Goldman Sachs Asset Management
Hewitt Risk Management Services – An Aon Company
Kempen Capital Management (UK)
Legal and General Assurance (Pensions Management) Limited (“PMC”)
River and Mercantile Investment Limited
Russell Investments Limited
Schroder Investment Management Limited and Schroder Pension Management Limited
SEI Investments (Europe) Limited
State Street Global Advisors Trust Company
Towers Watson Limited
The GIPS standards trademark should be used in accordance with the GIPS Standards Trademark Usage Guidelines.