Press Release
DST Global Solutions completes company accreditation in CIPM with the joining of operations in Asia
Singapore - 22 December 2009
DST Global Solutions has launched the Chartered Financial Analyst Institute’s (CFA) Certificate in Investment Performance Measurement (CIPM) program to its Asia business. Over the past 18 months, the company’s entire performance measurement solutions division has been awarded the CIPM certification program credential. Asia is the latest region to undergo the training, considered as the industry standard for performance measurement.

Rhodri Roberts, DST Global Solutions’ Head of Performance for Asia, said: “The CIPM serves as a valuable tool for ...   more »

Press Release
StatPro signs GIPS compliance deal with MFC
London, New York - 16 December 2009
StatPro Group plc, a leading provider of portfolio analytics and asset evaluations services for the global asset management industry, today announces that MFC Global Investment Management (MFC GIM) has signed a contract for its GIPS compliance software. MFC GIM is the institutional asset management business of Manulife Financial Corporation.

Global Investment Performance Standards (GIPS) are a set of ethical principles used by investment management firms. The principles establish a globally standardised, industry-wide approach to creating performance presentations that communicate investment results to prospective clients.

The agreement is to utilize StatPro Composites (a multi-currency tool for composite and account reporting to achieve and maintain GIPS® compliance), through our SaaS platform.

“The purchase of the StatPro Composites system will enable MFC to manage GIPS compliance on a global basis using a single platform. The deal supports our position as the premier provider of composites management software” said Mark Bramley, CEO North America at StatPro.

The system will support MFC Global’s performance and analytics teams in London, Toronto, Boston, Hong Kong and Tokyo. Through our SaaS platform, the implementation will be much faster and less expensive to MFC than a traditional client-side installation would have been. Regardless of location, users will be able to access data and applications, share functions and reporting.

Jacqueline Allard, Vice President and CAO at MFC Global Investment Management, said: “StatPro was chosen because of the superior functionality of the system as well as its ability to support us on a global basis.”

Article detailing Lou Mauri's new position as Head of BNY Mellon Global Outsourcing Unit

http://www.securitiesindustry.com/news/-24402-1.html   more »

Russell and Axioma to launch factor-based indexes, leading with innovative momentum series

NEW YORK, DECEMBER 15, 2009 – Russell Investments, which owns the most widely used equity benchmarks for institutional investment products, and Axioma, Inc., a leading provider of advanced tools for portfolio optimization and risk analysis, have agreed to create an innovative series of factor-based indexes to measure stock performance in various market segments. The Russell-Axioma Factor Indexes will feature a broad range of products to track the common risk factors used in the Axioma Robust Risk Models™.

The Russell-Axioma Momentum Indexes—the first in the series—track momentum returns closely while simultaneously exhibiting a number of desirable, practical features related to index implementation and non-momentum factor neutrality. The optimization methodology used to construct these indexes has been tested extensively and validates the realized index characteristics and returns.

“These new products are designed to help portfolio managers and traders obtain specific factor exposures in order to implement particular investment goals, while improving the overall characteristics of their portfolios,” said Ron Bundy, managing director for Russell Indexes. “We’re very pleased to work with Axioma, a recognized innovator in portfolio optimization and risk management, on the launch of these initial factor indexes. These indexes extend Russell’s widely followed methodology and practices to include what Russell believes are the best and most important elements of optimization and risk modeling.”

“As markets emerge from the global recession our clients are looking for greater ability to build and scrutinize very specific investment products, which includes closely tracking and managing their opportunities and risk,” said Bundy. “Our comprehensive global index design is ideal for crafting customized factor indexes to meet any such specific needs.”

Bundy also announced today that Goldman Sachs is the initial client for the new Russell-Axioma Momentum Indexes. ”We appreciate the valuable insights and feedback that Goldman Sachs provided in connection with the factor series, and we’re looking forward to working with them on the development of additional factor indexes,” he said.

Using Russell’s index methodology as the foundation, Axioma will utilize its optimization expertise and suite of global Robust Risk Models with the goal of minimum factor tracking error, maximum targeted factor exposure, minimum turnover, and neutrality to all other characteristics.

Sebastian Ceria, CEO of Axioma, said, “We are delighted to be teaming up with Russell, the industry leader in performance benchmarks. Axioma’s powerful optimization technology and risk management expertise, combined with Russell’s index capabilities, will help clients implement their investment and hedging strategies with significantly less turnover and lower transaction costs.”

“The returns of the Russell-Axioma Factor Indexes are designed to replicate the factor returns one would anticipate. These indexes also will be the first to consider essential issues relating to how such factor portfolios should be implemented in practice,” Ceria said. “Our extensive research has shown that these desired characteristics cannot be obtained only by controlling exposure. One must combine a powerful optimizer and risk model to achieve what practitioners require from a factor-based benchmark.”

Initial products will include the optimized Russell-Axioma U.S. Large Cap Momentum Index, which will be based on the Russell 1000® Index. The initial launch also will include the Russell-Axioma U.S. Small Cap Momentum Index, based on the Russell 2000® Index, and the Russell-Axioma U.S. Momentum Index, based on the broad-market Russell 3000® Index.

About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $174 billion in assets under management as of Sept. 30, 2009, and serves individual, institutional and advisor clients in more than 40 countries. Russell Indexes have $4 trillion in assets benchmarked to them as of June 30, 2008.

About Axioma
Axioma, Inc. develops and markets innovative risk analysis, portfolio rebalancing and performance attribution products for the financial services industry. Founded in 1998 and headquartered in New York with additional offices in Atlanta, San Francisco, London, Hong Kong, and Singapore, Axioma helps leading financial firms manage risk, increase returns and improve operational efficiency. For more information about Axioma, please contact Ellen Kiernan at 212.991.4503, or visit the company’s website at www.axiomainc.com.

Charlottesville, VA (Vocus) December 14, 2009 -- CFA Institute today announced that 45 percent of the Expert level candidates in the Certificate in Investment Performance Measurement (CIPM) program passed the exam and will be entitled to use the CIPM designation upon satisfying an experience requirement.

A total of 196 candidates in 22 countries sat for the three-hour, computer-based Expert exam, which was administered during September–October 2009.

Philip Lawton, CFA, CIPM, head of the CIPM program, said, “At a time when institutional investors are re-examining their due diligence procedures, the CIPM program offers performance professionals the knowledge and skills required to assess and explain investment results.” Daniel Gasch, CIPM, chief financial officer at the Research Corporation for Science Advancement, a non-profit organization based in Tucson, Ariz., said, “The CIPM designation has helped me monitor the performance of my managers and made me much more comfortable in all my manager interactions.”

The CIPM program is designed to test candidates’ mastery of a specialized curriculum in the areas of ethics, performance evaluation, and application of the Global Investment Performance Standards. Certification recognizes a practitioner’s proficiency in applying analytical techniques and preparing GIPS-compliant presentations, which guide investment firms in fairly representing and fully disclosing performance results. The CIPM self-study program trains performance analysts, client relationship managers, investment consultants, GIPS verifiers, compliance officers, regulators, and software developers, among others, to meet industry needs for technically qualified, ethically grounded investment performance professionals.

“While studying for the exams, I began to engage intellectually with the profession in a way I really hadn’t before,” said Andrew Peterson, CIPM, senior performance analyst at BNY Mellon in Everett, Mass. “Preparing for the CIPM examinations was the principal reason I first began to take performance measurement seriously as a long-term career, and began to really think about some of the unique challenges the field presents.”

In addition, 56 percent of the candidates enrolled in the Principles level of the CIPM program passed the exam they took in the September–October window. A total of 321 candidates in 33 countries sat for the three-hour, computer-based Principles exam.

Candidates who pass the Principles exam are eligible to enroll in the Expert level of the program. Both exams cover professional ethics; investment performance measurement, attribution, and appraisal; and the GIPS standards.

Carlos Rangel, CFA, CIPM, assistant portfolio manager at Managed Asset Portfolios in Rochester, Michigan, said, “The CIPM program provides diverse readings and rigorous self-study sessions to gain a solid foundation in performance measurement.” He added, “It allowed me to provide performance reporting and attribution skills to my employer as those skills became critical for the growth plans of the company.”

Enrollment for both levels in the April 2010 examination window remains open through January 31, 2010.

The CIPM curriculum is offered online and examinations are administered during two periods each year at test centers worldwide.

Find information about the CIPM program, including certification requirements. Questions may be directed to cipm (at) cfainstitute (dot) org.

CFA Institute CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world’s 84,000 CFA charterholders, in 133 countries and territories, as well as 136 affiliated professional societies in 57 countries and territories. More information may be found at www.cfainstitute.org.

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Source : PRWeb