CFAP, FMAP foster GIPS standards

MANILA, Philippines - The CFA Society Philippines (CFAP) and the Fund Managers Association of the Philippines (FMAP) are the official sponsors of the global investment performance standards (GIPS standards) for the Philippine market.  

The CFA Institute’s GIPS executive committee made the official acknowledgement recently to help bring the Philippine capital markets to international standards. 

Based on the principles of fair representation and full disclosure, the GIPS standards provide a global, ethical framework for the calculation and presentation of investment performance for investment management firms. 

The GIPS standards benefit two main groups: 1) investment management firms, and 2) their current and potential investing clients (including the investment consultants whose job is to evaluate, supervise, hire, and dismiss investment management firms on behalf of those clients).  

Administered by the CFA Institute, the success of the GIPS standards is the result of an alliance of sponsors across Europe, North America, Asia-Pacific, and Africa.  These key industry groups contribute significantly to promoting and developing the GIPS standards.  

The CFAP and FMAP, serving as the country sponsor is the 36th country to join this alliance. 

“We are very pleased to be acknowledged as the country sponsor of the GIPS standards in the Philippine market. The partnership between CFAP and FMAP is highly suitable given CFAP’s access to GIPS resources and FMAP’s membership base which is largely comprised of fund managers from investment management firms,” April Tan, president of CFA Philippines, said.    

FMAP president Alexandra Deveras said that the wider adoption of GIPS standards among investment management firms locally should help the country attract more foreign investments. “The Philipines is even more attractive with the recent upgrade of the Philippines’ credit rating to investment grade,” Deveras added. 

CFA Society Philippines is a local member society of CFA Institute, 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. 

FMAP is the organization of local equity and fixed income fund managers, from both the private and public sectors, with approximately P3.8 trillion of assets under management (AUM). It was established with the mission of helping uplift the investing public economically through the practice of professional fund management that adheres to the highest ethical standards and to the best practices globally.