SBI Funds Management Pvt. Ltd
MUMBAI: SBIFMPL, a Joint Venture between State Bank of India (“SBI”), India’s largest bank, and Amundi, Europe’s largest asset manager and one of the world’s leading asset management companies, announced today that its mutual funds, portfolio management services and alternate investments funds (GIPS Firm) claim compliance with 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 the best practice for investment advisors. The GIPS standards are currently adopted in 41 countries including India, 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.
Speaking on the occasion Mr. Vinay M.Tonse, Managing Director & Chief Executive Officer at SBIFMPL said “SBIFMPL 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.”
Mr. D.P. Singh, Chief Business Officer at SBIFMPL added “GIPS is a standard formulated by the prestigious CFA Institute and is a platform that recognizes the highest level of ethical reporting. At SBIFMPL 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, released our Annual Integrated Report, and have been signatories to the United Nations Principles for Responsible Investment.
Third-party verification brings additional credibility to a firm’s claim of compliance and tests the Firm’s policies and procedures for complying with the GIPS standards related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been, in all material respects:
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2014 The Global Indian New Network (TGINN)