Jan 26, 2011 (LBO) – The Sri Lanka chapter of US based Chartered Financial Analysts (CFA) is promoting the adoption of Global Investment Performance Standards (GIPS) which is useful to attract foreign capital, an official said. The standards are checked by a ‘verifier’ usually an auditor.
Rajiv Casie Chitty, the GIPS chair at CFA Sri Lanka said discussions with the fund management community and regulators has been in progress for some time.
“It has been well received by the fund management community,” Casie Chitty said.
“They see the value of having global standards especially when you trying to attract foreign fund bases.”
The latest standards GIPS 2010 has been released which the CFA Sri Lanka is promoting as the country sponsor.
GIPS has rules on how to measure the performance of a fund manager preventing rates of return from being exaggerated or manipulated and allowing different funds to be compared without being misled.