CMG Capital Management Group, Inc. has adopted Global Investment Performance Standards (“GIPS”) for investment performance calculation and reporting. CMG has chosen Ashland Partners & Company LLP to verify its GIPS policies and procedures.
“With all of the discussion regarding fiduciary standards, we believe it is only a matter of time before the GIPS® standard is adopted industry-wide,” said CMG President, PJ Grzywacz.
“The verification process is very robust. We didn’t want to just implement GIPS policies and procedures – we wanted to be verified by the industry leader, Ashland,” said Andrew Elkin, CMG’s COO and Chair of the firm’s GIPS committee.
Third party verification brings additional credibility to a firm’s claim of compliance and requires robust review of performance composites and thorough testing of policies by the independent party. CMG chose Ashland Partners, an industry leader with eight offices worldwide, for verification because of their long history as a GIPS service provider. Since its founding in 1992, Ashland’s sole focus has been on providing GIPS compliance and verification services to the investment management industry.
See the full press release.
(GIPS® is a registered trademark owned by CFA Institute)