Organizations that adhere to the 2020 global investment performance standards (GIPS) help assure investors and beneficiaries that the firm's and the asset owner's investment performance is complete and fairly presented.
Earlier this year, CFA Society Norway was named co-sponsors of the Global Investment Performance Standards (GIPS) in Norway together with the Norwegian Society of Financial analyst (NFF).
CFA Institute has partnered with organizations in more than 40 countries and regions that contribute to the development and promotion of the GIPS standards currently adopted by more than 1,700 organisations around the world.
"The GIPS standards are the recognized standard for calculating investment performance around the world and compliance with these standards has become a firm's "passport" to market investment management services globally," says President of CFA Society Norway, Isabelle Thompsen.
The presence of a local GIPS Standards Sponsor is essential for effective implementation of the GIPS standards and ongoing support within a country or region.
GIPS Standards Sponsors, composed of one or more industry organizations, provide an important link between their local markets and the GIPS standards governing bodies.
In addition to delivering educational programs and promoting the GIPS standards across the local investment profession, the GIPS Standards Sponsors own any CFA Institute-approved translation of the GIPS standards materials and are responsible for protecting it.
Mission
The mission of the GIPS standards is to promote ethics and integrity and instill trust through the use of the GIPS standards by achieving universal demand for compliance by asset owners, adoption by asset managers, and support from regulators for the ultimate benefit of the global investment community.
Here are six steps on how to comply:
1) Learn about the Gips standards
2) Evaluate the scope of work
3) Implement changes
4) Consider Verification
5) Submit the GIPS compliance Notification form
6) Stay current
More information about GIPS and how to comply can be found here:
https://www.cfainstitute.org/en/ethics-standards/codes/gips-standards/firms#__prclt=yMkEVTa2