Jadwa Asset Management claims GIPS compliance

Jadwa Asset Management, a division of Jadwa Investment, has claimed compliance with Global Investment Performance Standards (GIPS), making it the first firm in the Kingdom to adhere to the international standards, the CFA Institute said on Monday.

The GIPS are voluntary, ethical standards based on the fundamental principles of full disclosure and fair representation of investment performance, the institute said in a statement.

The standards give investors the additional transparency that allows them to compare and evaluate investment managers, it added.

“As Saudi Arabia increasingly opens up to foreign investment, it will also help local asset managers looking for opportunities to expand their reach beyond the Saudi Arabian market, ensuring that it is a more attractive market for investors internationally,” Ghanem Al-Ghanem, president of CFA Society Saudi Arabia, said in the statement.