A subsidiary of FBNQuest Merchant Bank and part of the FBN Holdings Plc group, FBNQuest Asset Management, has announced its compliance with the Global Investment Performance Standards (GIPS®).
By voluntarily adopting compliance with GIPS, FBNQuest Asset Management joins a select list of investment firms and asset owners globally, who uphold this set of standards. It reinforces its position as a thought leader as well as its commitment to promoting transparency and credibility in the investment management industry.
The adoption of GIPS standards in FBNQuest Asset Management reaffirms its commitment to transparency and full disclosure. In the BusinessDay Research and Intelligence Unit (BRIU) report published in 2017, FBNQuest Asset Management ranked first for transparency among its peers in Nigeria.
Introduced in 1999, the GIPS standards are a rigorous set of investment performance measurement principles, which have been adopted in over 40 countries and recognized around the world for imbuing trust, integrity and uniformity to performance reporting and enabling comparability of a firm’s track record.
Commenting on the recent achievement, Managing Director of FBNQuest Asset Management, Mr Ike Onyia, said, “Our firm’s compliance with GIPS means that our performance reporting framework is now comparable to best practice in mature markets.
“The standardisation of our process and the growth in adoption of these standards by the industry will benefit asset owners, as it will become easier to evaluate and compare the performance of different service providers.”
He said further that, “FBNQuest Asset Management is at the forefront of entrenching transparency, full and fair disclosure as well as best practice standards in our nascent industry.
“The promotion of these standards is important to the credibility of the investment management industry and our voluntary initiative demonstrates our commitment to adding value to our clients.”
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