SBI AMC has announced that its mutual funds, portfolio management services and alternate investments funds comply with Global Investment Performance Standard (GIPS) and has been independently verified by ACA Performance Services, LLC (“ACA”) for the period of April 1, 2014 through March 31, 2020.
GIPS is a set of standardized, industry-wide ethical principles that guide investment firms on how to calculate and present their investment performance to prospective clients. Although the adoption of GIPS is not mandated by regulation, it is considered a ‘best practice’ for investment advisors. The GIPS standards are currently adopted in 41 countries and are recognized around the world for their credibility, integrity, scope, uniformity, and enabling direct comparability of a firm’s track record. Firms that claim GIPS compliance adhere to all applicable requirements of the GIPS standards but do so through an ethical commitment to best practices.
In a press release, Vinay Tonse, MD and CEO, SBI AMC said, “SBI AMC has been trying to incessantly add value to its stakeholders through multiple initiatives. Our efforts in continuing to be a GIPS compliant entity for the last two years is a move towards adopting the best business practices being followed around the world.”
DP Singh, Chief Business Officer, SBI AMC added, “We adhere to the highest standards of ethics and professional conduct focusing on investor centricity. Along with being GIPS compliant, we have implemented the stewardship code, adopted the CFA Institute’s asset manager code of conduct.”
