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Meristem boosts investor confidence with GIPS compliance

By Nkiruka Nnorom

MERISTEMWealth Management Limited, a subsidiary of Meristem Securities Limited, has gone a step further in bolstering investors’ confidence with compliance to the Global Investment Performance Standard (GIPS), emerging the first asset management company in Nigeria to claim compliance.

With this feat, the firm’s reporting standard is now at par with that of its peers 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 in Lagos, said the GIPS compliance would ensure that the company’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 should have been calculated and presented if the clients were based in Germany, Toronto, Tokyo, North America and other parts of the world.

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

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Folasade Odunaiya, past president of CFA Society of Nigeria, who represented the global organisation, said: “This is window to global opportunities as investors all over the world, going forward, will be looking at what Meristem is doing, and this will guarantee sustainability”.

Kehinde Ibrahim, Head, Portfolio Management, Meristem Wealth, adding his voice, said: “For us as 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.”

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