UK – Multi-manager investment firm Frank Russell has been confirmed as compliant to both the UK Investment Performance Standards (UKIPS) and the Global Investment Performance Standards (GIPS) for its Dublin-based umbrella fund range.
Ernst and Young acted as verifier for Frank Russell’s claim of compliance.
Jon Baillie, managing director of institutional investment services at Russell, comments: “Russell has always supported the principles of fair representation and full disclosure.
“ The move to compliance with GIPS is just one part of our continued efforts to ensure clients get the best deal from Russell and fully understand the strengths of our investment proposition.”
A survey published last September by the US-based Spaulding Group showed that just under a fifth of 26 responding European asset management firms said they were then GIPS compliant, but that 90% either do comply or plan to comply in due course.