CFA Institute extended the period for public comment to Aug. 1 on an exposure draft for the application of global investment performance standards to pension funds, endowments, foundations as well as other institutional asset owners that do not generally compete for money management business, according to a notice e-mailed Wednesday to CFA Institute members.
CFA seeks to solicit more comments. It has received 12 comment letters so far. Reponses were initially due June 3.
“As a respected and knowledgeable member of the asset owner community, it is critical that we hear from you,” the notice states.
The proposal guidance marks the first time that GIPS, a worldwide set of voluntary standards for reporting investment returns for investment management firms, would be applied to asset owners.
The CFA Institute, a global association of investment professionals, created and administers GIPS. The institute established the GIPS executive committee as the governing body for the standards.
The exposure draft is available on the GIPS standards website. Responses may be sent by e-mail to [email protected] Unless otherwise requested, the comments will be made public on the GIPS standards website.
The CFA Institute expects the guidance statement would become effective Jan. 1, 2014.