CFA Sri Lanka has been named an official sponsor of the Global Investment Performance Standards, or GIPS standards, for the Sri Lanka market.
The GIPS standards are a set of standardised, industry-wide ethical principles that provide investment firms with guidance on how to calculate and report their investment results to prospective clients.
“We are delighted to have been appointed as the country sponsor of the GIPS standards in Sri Lanka.
We intend to work closely with the fund management industry and the regulatory authorities to promote the wide usage of the GIPS. We believe that the usage of GIPS standard will improve the quality of reporting, build confidence amongst investors who seek fund management services and provide a competitive edge for the compliant firms,” said a spokesman for CFA Sri Lanka, in statement.
The GIPS standards benefit two main groups; investment management firms and their current and potential investing clients, including investment consultants whose job is to evaluate, supervise, hire, and dismiss investment management firms on behalf of those clients.