UK Investment Performance Committee (UKIPC)
The UK Investment Performance Committee is the main consultative body in the UK for the GIPS and is responsible for its continuing development and promotion in the UK. It is sponsored by ABI, IMA and the Pensions and Lifetime Savings Association, which provides its secretariat. Investors, advisors, asset managers, verifiers, measurers, analysts and other stakeholders are represented through membership of the committee.
The Committee is widely drawn and operates under its own constitution.
Global Investment Performance Standards (GIPS)
Measuring the investment performance of money managers is a critical part of the investment process. Consistent reporting, analysis and measurement enable investors to improve their understanding of managers' track records and help them to make better manager choices.
The Global Investment Performance Standards (GIPS) are part of a global initiative created by the CFA Institute to standardise the way that investment information is presented. If fund managers' performance is to be open to scrutiny, their investment returns need to be calculated and disclosed on a consistent basis. How else can pension trustees and their advisers be in a position to make informed investment decisions?
So it's well worth asking your pension fund investment managers whether they comply with the GIPS Standards - and if not, why not? The Standards may be voluntary, but more and more investors are insisting that their fund managers adhere to it. Some 27 countries, including all the leading markets, have now adopted GIPS.
The GIPS Standards have their own dedicated website, providing access to a wealth of information about the GIPS – what it is, its history, its governance – as well as access to other GIPS resources (the Standards themselves, interpretations, guidance, Q&A) and a GIPS Helpdesk.