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GIPS in Ireland

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GIPS in Ireland

In May 2001 the Investment Performance Council (IPC), at its in-person meeting in Los Angeles, formally adopted GIPS Ireland as the very first approved country version of GIPS (CVG). That very first CVG, unique to Ireland, incorporated a stiffer deadline for the adoption of a valuation requirement at point of cash flow.

From January 2006, on the adoption of the gold GIPS standard, this CVG has been replaced by the revised Global Investment Performance Standards (GIPS) which has incorporated many of the best practices previously expounded in national CVG's. The GIPS standard now represents the sole investment performance standard globally.

Acting on behalf of the country sponsor, the Irish Association of Investment Managers, the Country Sponsor Committee reviews all guidance statements issued by the GIPS governing body, the GIPS Executive Committee (the successor body to the IPC), and collates feedback from the Irish marketplace within the public comment period for onward submission to the Performance Standards Group in the CFA Centre for Financial Market Integrity.

The Irish Sponsors committee is made up of the following individuals:

Joe O'Donnell, AIBIM (Chair), Joe Kavanagh, (KBCAM), Anne Golden (BIAM), Samantha Fitzsimons (F&C), Janice Nolan (Setanta), Gordon Doyle (ILIM), Ger Knowles (ILIM), Barry Traynor (Pioneer).

Independent of its function as the country sponsor committee, this group also meets quarterly to discuss matters of common interest to performance measurement professionals, including, but not restricted to, training needs analysis, organisation of training courses, review of third-party vendor services, and other issues of common concern. If any other firm wishes representation on this committee, please in the first instance contact the society e-mail address.

Minutes of the last meeting

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Links

Issues for Public Comment

Corrections to the current GIPS document

Guidance Statements

Interpretations Library

GIPS Helpdesk

Regional Investment Performance Sub-Committee (Europe, the Middle East and Africa)

The RIPS EMEA, on which Ireland is represented by the chair of the country sponsors committee, is the regional representative body of the GIPS Executive Committee. It acts as a forum to collate and represent the views of the region in the development of the GIPS standard. Additional to its work on GIPS the sub-committee has initiated some valuable work on developing advisory papers on various aspects of performance measurement, reporting and risk measurement. A list of these papers are given below:

Guidelines in Respect of the Impact of Euro Conversion

Client Questionnaire

Template Questionnaire for Verification Services

Guidance on Presentation of Performance Attribution Reporting

Guidance for Recipients of Investment Reporting

CIPM Program

The Certificate in Investment Performance Measurement (CIPM) program is a new certification program designed to train highly qualified, ethically grounded performance professionals to meet industry needs. Those who pursue the CIPM designation will master best practices in calculating, interpreting, and presenting investment performance figures. It is structured over two levels, Principles and Expert, to be passed sequentially. The exams may be scheduled within defined calendar windows and taken at selected Thomson VUE testing sites.

The society welcomes this new initiative, and would encourage performance measurement professionals, verifiers and compliance staff to consider signing up for the program.