GIPS Standards for Fiduciary Management Providers to UK Pension Schemes

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.

• 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)

• GIPS Standards for FMPS - Errata August 2020
• Explanation of the Provisions Section 32 Calculations
• Explanation of the Provisions Section 34 Calculations
• Sample Policy Manual

The GIPS Standards for FMPs offer key benefits to the United Kingdom's pension market.

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. 

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”)

Mercer Limited

River and Mercantile Investment Limited

Russell Investments Limited

Schroder Investment Management Limited and Schroder Pension Management Limited

SECOR UK

SEI Investments (Europe) Limited

State Street Global Advisors Trust Company

Towers Watson Limited