The UK Investment Performance Committee ("UKIPC") is the UK Country Sponsor for the Global Investment Performance Standards (GIPS®) and is responsible for its continuing development and promotion in the UK. It is sponsored by the the Pensions and Lifetime Savings Association (PLSA), and the Investment Association (IA), which also provides its secretariat. Asset Owners, advisors, asset managers, verifiers, measurers, analysts and other stakeholders are represented through membership of the UKIPC.
About GIPS
The GIPS are voluntary standards based on the fundamental principles of full disclosure and fair representation of investment performance results. A global standard for investment performance reporting gives investors around the world the additional transparency they need to compare and evaluate investment managers.
The GIPS were created and are administered by the CFA Institute, the global, not-for-profit association of investment professionals. The success of the Standards is the result of an alliance among experts within the global investment industry and partnerships with Country Sponsors.
Measuring the investment performance of asset managers is a critical part of the investment process. Consistent reporting, analysis and measurement enables investors (e.g. pension trustees and their advisers) to improve their understanding of managers' track records and helps them to make better manager choices.
The Standards may be voluntary, but more and more investors are insisting that their fund managers adhere to them. Some 37 countries, including all the leading markets, have now adopted GIPS.
The GIPS have their own dedicated website, providing access to a wealth of information about the GIPS – what they are, their history, their governance – as well as access to other GIPS resources (the Standards themselves, interpretations, guidance, Q&A) and a GIPS Helpdesk.
GIPS Governance
A global Executive Committee governs GIPS, promoting the adoption and implementation of a single investment performance standard. This is supported by a Technical Committee, and a range of subcommittees:
- Asset Owner Subcommittee
- Interpretations Subcommittee
- Investment Manager Subcommittee
- Verification Subcommittee
- Real Estate Working Group
- Benchmark Working Group
There are also several CFA staff members dedicated to GIPS.
Useful Documents
- Current GIPS (December 2014)
- GIPS standards fact sheet (2015)
- GIPS Strategic Plan (June 2014)
- GIPS Handbook - Third Edition (November 2012): More information
Links to useful information on the CFA Website
- Current Guidance Statements
- GIPS Q&A Database
Attached is the latest version (March 2017) of the GIPS Standards Mission and Vision: A Road Map presentation that we hope will be a helpful and useful tool, promoting the GIPS standards.
How Can I Learn More About GIPS Standards?
- Visit the GIPS website
- Review the GIPS standards
- GIPS Standards Mission and Vision: A Road Map (PDF)
- GIPS Standards News
The Role of the UKIPC
The UKIPC is the UK Country Sponsor for the GIPS. The IA is co-sponsor of the Committee together with the PLSA and provides the Committee’s secretariat.
The UKIPC works to ensure that the UK is well represented on the GIPS Committees and subcommittees. Its Constitution is attached.
The members of the UKIPC are currently:
- John Barrass - WMA (the Wealth Management Association)
- Kaj Martensen - PLSA
- Neil Mackay - Asset Owner
- Matt Price - AIMA (the Alternative Investment Management Association)
- Paul Blandford - Verifier
- David Baskeyfield - IPF (the Investment Property Forum)
- Ray Adderley - IPF
- Neil McPherson APPT (the Association of Professional Pension Trustees)
- Tom Stapleton - IA
- Chris Nimmick - IA
- Chris Beesley - Asset Owner
- Jonny Frew - IA
There are also the following official observers:
- Anthony Howland - Invitee
- Fraser Priestley - Measurers
- Mark Goodey - Software
Current Activities
Recent Events
Other
The IA took over the secretariat of the UKIPC in 2015. The old PLSA site can be found here.
Investment Association Contact: Adrian Hood
Last Updated: 2 April 2020
