FBNQuest Asset Management, a subsidiary of FBNQuest Merchant Bank and part of the FBN Holdings Plc group, has announced its compliance with the Global Investment Performance Standards.

Introduced in 1999, the GIPS standards are a rigorous set of investment performance measurement principles, which have been adopted in over 40 countries and recognised around the world for imbuing trust, integrity and uniformity to performance reporting and enabling comparability of a firm’s track record, according to a statement.

The firm said by voluntarily adopting compliance with GIPS, it had joined a list of investment firms and asset owners globally who uphold this set of standards.

The Managing Director, FBNQuest Asset Management, Ike Onyia,  said, “Our firm’s compliance with GIPS means that our performance reporting framework is now comparable to best practice in mature markets.

“The standardisation of our process and the growth in adoption of these standards by the industry will benefit asset owners, as it will become easier to evaluate and compare the performance of different service providers.”

According to him, FBNQuest Asset Management is at the forefront of entrenching transparency, full and fair disclosure as well as best practice standards in the industry.