Frank Russell's Dublin-based fund range is now fully compliant with UK standards of disclosure on po...
Frank Russell's Dublin-based fund range is now fully compliant with UK standards of disclosure on portfolio performance.
The Frank Russell Investment Company and Frank Russell Investment Funds are in accordance with UK Investment Performance Standards (UKIPS) and the Global Investment Performance Standards (GIPS.
GIPS is a set of ethical guidelines for presenting performance information in a fair and representative way and for encouraging full disclosure.
It is sponsored by the Association of Investment Management and Research (AIMR) and was developed through a global industry-wide initiative strongly supported by the NAPF.
In order to be compliant with UKIPS, investment firms must first comply with GIPS and have their claim of compliance 'verified' by a third party. Ernst & Young acted as 'verifier' for Russell's claim of compliance.
FRIC and FRIF are also in line with GIPS across all their sub-funds.
Jon Bailie, managing director of institutional investment services at the group, said: 'Russell has always supported the principles of fair representation and full disclosure.'
Following GIPS and UKIPS requirements has been a growing trend in the industry, according to a survey published by US-based Spaulding Group (TSG).
The survey showed that more than 90% either already comply or plan to comply in due course.
Globally, about a half of the 166 fund managers surveyed by TSG stated that their intention is to become GIPS compliant.
This is expected to rise now that the AIMR US standards have been redrafted to include GIPS at the core.
US firms are now starting to take the steps necessary to follow GIPS regulations.
'Truly making a difference'
Avoidance, evasion and non-compliance
From 6 April 2019
Marcus Brookes appointed CIO