UK - Aegon Asset Management is implementing global investment performance standards to boost the transparency of its investment performance.
Aegon said the implementation of GIPS demonstrated its commitment to “fair and honest competition”.
And it added the standard promoted full disclosure by removing the ability of firms to “cherry-pick” favourable performance figures.
The move follows a row earlier this year when several fund managers – led by Royal London Asset Management – accused Scottish Widows Investment Partnership of using “misleading” performance figures to woo scheme trustees.
Aegon head of UK institutional sales Louise Waugh said: “We believe the GIPS initiative is central to the future integrity of the institutional investment market.
“By removing the temptation to cherry-pick performance figures, managers are creating a level-playing field on which to compete.”
He added: “In the long-term this can only be positive for the entire industry, and an increasing number of consultants and trustees are now beginning to take GIPS into consideration when choosing a manager.
“We believe that this will become an increasingly important factor, and that firms which continue to spurn GIPS will be putting themselves at a competitive disadvantage.”
Aegon has been independently verified by HSBC Global Fund Services as GIPS-compliant, for the five years to the end of last year.
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