Back Tue, 07 August 2018

Jadwa Asset Management claims Global Investment Performance Standards (GIPS®) compliance

London, United Kingdom, 06/08/2018: CFA Institute, the global association of investment professionals, announces today that Jadwa Asset Management claims compliance with the Global Investment Performance Standards (GIPS). Jadwa Asset Management, a division of Jadwa Investment, is the first firm which is domiciled in Saudi Arabia to claim GIPS compliance and is one of nearly 1650 firms worldwide upholding the standards.   

The GIPS standards are voluntary, ethical standards based on the fundamental principles of full disclosure and fair representation of investment performance. Global standardisation of investment performance reporting gives investors around the world the additional transparency they need to compare and evaluate investment managers, which contributes to the long-term goal of building trust in the industry. Commitment to the GIPS standards requires the following from investment firms:

 

  • Learn about the GIPS standards
  • Analyze a firm’s ability to comply
  • Build the infrastructure to comply
  • Implement the requirements
  • Stay up to date with current development

 

The are sponsored and administered by CFA Institute, which awards the Chartered Financial Analyst® (CFA®) and Certificate in Investment Performance Measurement® (CIPM®) designations. The success of the GIPS standards is the result of an alliance among experts across Europe, North America, Asia Pacific, and Africa who contribute to promoting and developing them; and local representation through more than 40 GIPS Country Sponsors which includes CFA Society Saudi Arabia.

The GIPS standards benefit two main groups: investment management firms and their current and potential clients, including the investment consultants who evaluate, supervise, hire, and dismiss investment management firms on behalf of those clients.

“Reporting and presentation of performance results is an important element of the overall investment process at Jadwa. By adhering to prescribed return calculation methodologies and presentation standards, we provide assurance to existing and prospective investors on the integrity of our investment results as well as on the practices and processes of the Firm. Complying with the GIPS® Standards and undergoing independent third party verification demonstrates Jadwa’s commitment to the highest industry standards said Tariq AlSudairy, CEO of Jadwa Investment.

Ghanem Al-Ghanem, CFA, President of CFA Society Saudi Arabia and member of  Saudi Arabia GIPS Country Sponsor Committee, added: “This is an exciting time for us as Jadwa Asset Management is the first domestic asset manager to claim compliance. As Saudi Arabia increasingly opens up to foreign investment, it will also help local asset managers looking for opportunities to expand their reach beyond the Saudi Arabian market, ensuring that it is a more attractive market for investors internationally.”

For further information please contact , Director, Corporate Communications EMEA.

 

Notes to Editors

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 150,000 CFA charterholders worldwide in 165+ countries and territories. CFA Institute has eight offices worldwide and there are 149 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.  

About CFA Society Saudi Arabia

CFA Society Saudi Arabia is the local association of investment professionals and promotes the highest ethical standards, education and professional excellence among its members and the investment community in Saudi Arabia. As a not-for-profit educational organization, its mission is to educate and inform investment decision-makers, promote ethical standards in the industry, and assist financial professionals in career development.  CFA Society Saudi Arabia promotes awareness and understanding of securities analysis, investing, and the operation of the securities markets, and its members are recognized as ethical, knowledgeable members of the investment decision-making community.

About Jadwa Investment

Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with assets under management of USD 7 billion in public equity, private equity, real estate and fixed income. The firm's clients include government-related entities, local and international institutional investors, leading local family companies and offices and high-net-worth individuals. Jadwa Investment is one of Kingdom's largest public equity asset managers and the region's top mutual fund performer. Apart from being GIPS compliant, Jadwa’s Asset Management practice is rated MQ1 by Moody’s, which is the highest rating on Moody’s investment manager quality rating scale.