HONG KONG, 27 May 2020 – AIA Group Limited (“AIA”; or the “Company”; stock code: 1299) announced today that it has adopted the Global Investment Performance Standards (GIPS®). AIA is the first asset owner to achieve compliance with CFA Institute’s GIPS® standards in the Asia-Pacific region and the first insurance organisation to become GIPS-compliant as an asset owner globally.

Since 1963, CFA Institute has been promoting the highest ethical standards through its far-reaching network of CFA charterholders and members; and later through the voluntary adoption by thousands of financial institutions globally of the various industry standards, most notably led by the GIPS^® standards, which was first advocated in 1986. Based on the principles of fair representation and full disclosure, the GIPS standards provide an ethical framework for the calculation and presentation of investment performance for investment management firms and asset owners.  GIPS standards are a rigorous set of investment performance measurement standards adopted in 46 markets and recognised around the world for their unparalleled credibility, integrity, scope, and uniformity, enabling direct comparability of a firm’s track record. The standards also promote transparency, open, honest and ethical practices in performance reporting.

“We are extremely proud to have undergone the demanding process to claim compliance with the GIPS standards and be the first insurance organisation to become GIPS-compliant as an asset owner in Asia Pacific and globally,” said Mark Konyn, AIA Group Chief Investment Officer. “The adoption of GIPS standards as asset owner demonstrates AIA’s determination and commitment to ensuring that investment performance information utilised for governance and decision making meets the highest standards of integrity. We believe that compliance with GIPS standards is imperative as we continue to grow our business in Asia Pacific.”

“We are very excited to mark this accomplishment of AIA Group Limited. Claiming compliance with the GIPS standards is a voluntary endeavour, and AIA chose to pursue this initiative and thus became the first GIPS-compliant asset owner in Asia Pacific,” said Margaret Franklin, CFA, President and CEO, CFA Institute. “Many asset managers around the world have adopted the GIPS standards as a way to strengthen reporting and boost transparency, and asset owners that choose to comply are truly advancing the investment profession by employing a higher standard. We applaud AIA for its efforts to promote fairness, transparency, and ethics in investment performance. Not only is this a testament to AIA’s commitment to robust internal policies and procedures, but it is also a strong proof-point through which AIA is demonstrating its dedication to its customers, shareholders, and regulators.”

- End -

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong SAR, Mainland China, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR, New Zealand, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$284 billion as of 31 December 2019.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials.  The organization is a champion of ethical behaviour in investment markets and a respected source of knowledge in the global financial community.  Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow.  There are more than 170,000 CFA charterholders worldwide in 162 markets.  CFA Institute has nine offices worldwide and there are 158 local member societies.  For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.

Contacts