View the article online at http://citywire.co.uk/wealth-manager/article/a755559
Rathbones receives top reporting transparency accolade
by Dylan Lobo on Jun 09, 2014 at 11:21
The Chartered Financial Analyst (CFA) Institute has awarded Rathbone Investment Management its highest independent indicator of investment performance.
The Global Investment Performance Standards (GIPS) accreditation handed to Rathbones is designed to ensure fair representation and full disclosure of a firm's performance history.
It seeks to promote integrity and instil trust in asset managers, with the global standardisation giving investors around the world additional transparency to compared and evaluate investment managers.
In gaining GIPS compliance, Rathbones can now offer clients a coherent and robust demonstration of GIPS compliant actual historic performance as verified on our client base of over 70,000 funds achieved over the last five calendar years on an all-inclusive basis.
EY verified Rathbones procedures, which included a review of the calculation methodology, client agreement records, custodian controls and our policies and procedures before opining on Rathbones’ compliance with GIPS.
'The pursuit of excellence is a driving principle at Rathbones, whether evidenced in the performance of investment portfolios, our personalised service or through the strength of our support infrastructure,' said Paul Chavasse (pictured), head of investment management at Rathbones.
'We have always placed emphasis on transparency, accountability and credibility when discussing investment performance.'
He added: 'With our GIPS accreditation confirmed, both existing and potential clients can have confidence in our compliance with the highest international standards. Very few of our competitors have secured this important kite mark and we believe this demonstrates our willingness to seek out and achieve best practice in discretionary investment management.
'The confirmation of our full GIPS compliance is also testament to the infrastructure of systems, processes and controls we have put in place and in which we have made significant investment over recent years.'
The award comes as regulatory demands on wealth managers grow. In April the FCA said it could take enforcement action against two firms for 'egregious' failings on the back of a thematic review into charging.
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