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.”