Tuesday, November 21, 2017 7.00pm /
Proshare WebTV
The maiden Nigeria Investment Performance
Stakeholders Forum hosted by KingsThrones Advisory Limited, brought key
stakeholders from the various spheres of the financial market to discuss the
theme “Market Approach to Performance Reporting Standards with the adoption of
the GIPS”.
GIPS is the Global Investment Performance
Standards a robust performance reporting process for firms, which is globally
recognized and plays a key role in positioning financial markets as viable and
credible.
Giving the opening remarks at the
conference Mr Akin Adebiyi CRO, KingsThrones Advisory, described the forum as
an opportunity to explore value of the GIPS, which speaks to the quality of
managers investment decision making process.
According to Mr Akinbiyi “The GIPS is a
powerful enabler, that brings proficiency and trust in the Nigerian money
market”. He believed its adoption will entrench transparency, accountability
and probity in the market.
Speaking further he noted that adopting
GIPS was in the interest of clients and the effectiveness of managers, bringing
a new era in reporting and compliance for the asset management or buy side of
the local market.
The CEO of Financial Derivatives Mr
Bismarck Rewane in his remarks asserted that Nigeria was in dire need of a
market with reliable information, that has data integrity.
Rewane decried the fact that Nigeria had
challenges in the area of a comprehensive population data, that is a true
reflection of the entire sphere of the country.
He posited that the first step to an
effective GIPS adoption will require the authenticity of its population data as
a nation.
Mr David Adeoye, CFA CEO of Fritova
Economics in his presentation on “Market Rules and Regulations on Performance
Measurement” highlighted the fact that Investment market competition has gone
global, same with regulations. He said “We are moving from country regulations
for investment reporting to global regulation for investment reporting”.
Adeoye stressed that Investment
performance is being used in key aspects of portfolio management and, in
particular manager engagement, portfolio planning & reporting, manage
search & selection. The options for Nigeria on GIPS adoption according to
Adeoye, was voluntary adoption by firms, client retention and competition which
will see the country witness a leap.
In her goodwill message Mrs Toyin Sanni
the Group Chief Executive Officer of United Capital lauded the initiative
behind the maiden “Nigeria Investment Performance Stakeholders Forum”. She
listed the benefits of the GIPS adoption by firms in Nigeria, to include;
credibility in reports, creating an attractive market and boosting investor
confidence.
The forum also featured presentations and
panel discussions on “Performance Reporting Framework and Market Expectations”
and “Adopting the GIPS Standards in Nigeria”.
Nigeria is among the leading drivers of
the Global Investments Performance Standards in Africa alongside South Africa
and Ghana.
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