Eagle Investment Systems LLC and ACA Compliance Group (ACA) have collaborated to help standardise and streamline Global Investment Performance Standards (GIPS®) verifications for clients.
The GIPS standards, created and administered by CFA Institute, provide a set of voluntary reporting guidelines based on the principles of full disclosure and fair representation of investment performance. The Eagle Performance suite helps to support the data sets required for managers to claim GIPS compliance. By standardising data collection and the packaging and reporting processes, Eagle and ACA are streamlining the annual verification workflows for their common clients, which will result in material time savings for clients during the verification process.
“This collaboration creates a simple solution to the verification process,” said Mark Goodey, Eagle’s Senior Principal of Investment Analytics. “An asset manager’s compliance with GIPS standards has become a necessity in order to have credibility with investors. Through streamlining the data collection process, we’re helping our clients provide the kind of transparency that is expected today.”
In addition, the solution will help asset managers stay ahead of the changes to the GIPS standards coming in 2020 and beyond. Leveraging Eagle’s award-winning Data Management and Performance Measurement and Attribution solutions and ACA’s deep subject matter expertise, the firms will update and maintain the package moving forward for all clients utilising the service.
“This is an exciting relationship that will accelerate the pace at which we are able to conduct GIPS verifications,” said Justin Guthrie, ACA’s Head of Performance Services. “By standardising the data that is extracted through Eagle’s Performance Measurement system, we’ve increased the efficiency of the data flow, creating a faster and more accurate solution for clients who depend on ACA to process their GIPS verification. The time savings our clients will achieve in responding to our data requests will be significant.”