By Venilia Amorim2021-05-28T13:45:00+01:00
Recent research conducted by consultancy Isio has found that all fiduciary managers participating in its survey in the UK underperformed their return objectives, however, most outperformed the low governance option.
The CFA Institute’s Global Investment Performance Standards (GIPS) for fiduciary managers, approved by the Competition and Markets Authority (CMA) in December 2019, help pension fund trustees select and monitor fiduciary managers by enabling performance comparison, allowing for variables such as return targets and hedging levels.
The CMA has also mandated fiduciary managers to provide this information to trustees when considering fiduciary management as an option.
The Financial Services industry is about to experience a ‘generational shift’ as Meristem, the nation’s leading financial services provider, launches a new corporate campaign titled ‘Generations’.
Coronation Asset Management Limited has announced a 50 per cent rapid growth of the Mutual Fund industry in Nigeria; bringing its total assets to N1.57
Coronation Asset Management has called for a harmonised reporting standard for mutual funds in Nigeria.
Making this call in a report on Nigerian mutual funds titled, “ Comparing Mutual Funds – Apples and Oranges’, the company noted the use of different methods of reporting by mutual funds in the country is not in line with global best practices and does not encourage growth of the industry.
Speaking at the virtual media presentation of the report, Guy Czartoryski, Head of Coronation Research, said: “In our view, Nigeria’s diverse measures stand in the way of the development of the industry.
“Although it is growing rapidly, we believe that Nigeria’s Mutual Fund industry requires several more years of growth to reach the N12.3 trillion total size of Nigeria’s Pension Funds”.