| Fund managers begin to meet investment presentation standards for pension funds - PwC |
|
|
| 11/01/2002 | |
|
by Nat Mankelow Compliance with performance presentation standards is now the norm amongst large asset managers, according to a survey by professional services firm PricewaterhouseCoopers (PwC). For 95 per cent of fund managers, the standard of reporting investment performance to pension funds now either meets PwC's benchmark – known as GIPS – or is very close. GIPS – Global Investment Performance Standards – is a voluntary guideline for the 'ethical' presentation of investment performance. According to PwC, GIPS allows pension funds to compare firms on a global level and allows managers to compete in foreign markets. The majority of respondents, over 75 per cent, revealed that they underwent independent verification of their investment presentations. Most of these fund managers, 62 per cent, received an examination of one or more composites, and 13 per cent acknowledged that their examinations were on a firm-wide basis. Firms are using their websites to disseminate investment performance – 50 per cent included performance results online, 60 per cent of which claim GIPS compliance 'with a chosen standard' on their websites. Kelvin Laing-Williams, partner at PwC, said: "As the investment management industry becomes more global, we believe there will be a sharp rise in demand for reliable independent data regarding trends in performance measurement." Responses were gathered from 60 global asset management companies with assets under management ranging from $3bn to $200bn. |
|
© Copyright 2008 bfinance. This document is for your personal non-commercial use. Any further copying, reproduction, distribution is strictly prohibited. To obtain permission please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it