Meristem bolsters investor confidence with GIPS compliance

By MERISTEM 5 years agoNo Comments

Meristem Wealth Management Limited, a subsidiary of Meristem Securities Limited has boosted investor confidence with compliance to the Global Investment Performance Standard (GIPS), emerging the first asset management firm in Nigeria to claim compliance.

With this feat, it means that the firms reporting standard could be comparable to what obtains in other advanced markets, which enhances investors confidence in the areas of transparency, risks management and ethical practice.

The Global Investment Performance Standards (GIPS) are guidelines created by the Chartered Financial Analysts (CFA) Institute to provide ethical framework for the calculation and presentation of the performance history of investment management firms.

Sulaimon Adedokun, head, Wealth Management, Meristem Wealth Management Limited speaking at the Meristem GIPS Compliance declaration event in Lagos said this will ensure that the asset management unit’s processes, policies and procedures are committed towards ensuring that performance results, calculations and presentation to clients are done in accordance with the industry’s best practices and standards.

“This then makes it comparable to how same performance results would have been calculated and presented if the clients were based in Germany, Toronto, Tokyo, North America and other parts of the world.”

Adedotun stated that compliance to GIPS make the rest of the world look at Nigeria’s Meristem as a global firm in international standard, stating that it aligns with its commitment to professionalism and integrity with customer at the core of its growth drive.

‘Becoming the first and only Nigerian Asset Management firm to claim GIPS compliance is simply Meristem Wealth Management Limited living out its brand promise to grow wealth for our clients’ in good time and an atmosphere of transparency.”

Folasade Odunaiya, past president of CFA Society of Nigeria who represented the global organisation said with compliance to GIPS, Meristem Wealth Management Limited is sitting on the right ground to offer services to global investors.

“This is window to global opportunities as investors all over the world will going forward be looking to what Meristem is doing, and this will guarantee sustainability”.

Kehinde Ibrahim, head, Portfolio Management, Meristem Wealth adding his voice said “For us a firm, GIPS compliance is something we are happy to complete”. Going forward, our reporting can be placed side by side with other global fund managers.

“Claiming compliance with GIPS is no mean feat but it’s worth achieving for the investment terrain in Nigeria and for the sake of our treasured clients who have given us the privilege to serve them. We constantly seek to be open and transparent in all our dealings with our clients, they have our best assurance as we have successfully walked our talk in becoming the first and only GIPS compliant firm in Nigeria, the Company said.

Culled from: Business Day

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