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INTERNATIONAL INVESTMENT PERFORMANCE STANDARDS: REQUIREMENTS FOR THE EVALUATION OF ASSET MANAGEMENT IN THE SECURITIES MARKET

Annotation

In developed financial markets long and successfully applied common international standards for assessing the effectiveness of management of investment portfolios - Global Investment Performance Standards (GIPS). They are recognized by the international investment community as standards to ensure the completeness and transparency of information on the results of asset management. To meet these professional standards of investment, firms on an annual or quarterly basis publish reports on the effectiveness of investments with mandatory submission of an audit firm with it's adherence in reporting to standards of GIPS. The basic unit of the investment performance is composite. The basic unit of representation of asset management is a composite. Objectivity and transparency of the results of assets management is a prerequisite for establishing long-term relationships with investors. This report was presented in the Russian stock market for the first time as per results of the year 2005 by a well known mutual funds management company. So far, however, this practice is not widespread, which is a negative factor in modern Russian financial market, especially in view of formation of the project an international financial center in Russia.

Keywords

international investment performance standards; investment firm; investment portfolio; trustee; composite; yield

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UDC

339.7

Pages

25-31

References

1. GIPS: Global Investment Performance Stan-dards. 2010. CFA Institute. URL: http:// www. cfapubs.org/doi/pdf/10.2469/ccb.v2010.n5.1 (data obrashcheniya: 07.10.2014). 2. GIPS: Global Investment Performance Stan-dards. Guidance Statement on the Application of the GIPS Standards to Asset Owners. 2014. CFA Institute. URL: http://www.gipsstandards.org/ standards/guidance/Documents/Comments/gs_ asset_owners.pdf (data obrashcheniya: 10.10.2014). 3. Global Investment Performance Standards. Guidance Statement on Calculation Methodology. 2010. CFA Institute. URL: http://www. gipsstandards.org/standards/guidance/Documents/Comments/gs_calculation_methodology_clean.pdf (data obrashcheniya: 10.11.2014). 4. Rebel'skiy N.M. Ob otsenke effektivnosti upravleniya finansovymi aktivami // Finansy. 2012. № 2. 5. Ovanesov A. Mezhdunarodnye standarty investitsionnoy deyatel'nosti, novye vozmozhnosti dlya Rossii. URL: http://gaap.ru/ articles/mezhdunarodnye_standarty_investitsionnoy_deyatelnosti_novye_vozmozhnosti_dlya_rossii/ (data obrashcheniya: 15.10.2014). 6. Otchet o rezul'tatakh upravleniya investi-tsionnymi portfelyami, nakhodyashchimisya v doveritel'nom upravlenii OAO “Al'yans Investitsii”. URL: http://www.allianz-invest.ru/ attach/0/20/16/Report_GIPS_6M2014.pdf (data obrashcheniya: 06.10.2014). 7. Standarty raskrytiya informatsii ob investirovanii sredstv pensionnykh nakopleniy, utverzhdennye Prikazom Ministerstva finansov RF ot 22.08.2005 g. № 107/n. Dostup iz spravochno-pravovoy sistemy “Konsul'tantPlyus”. 8. Rebel'skiy N.M. Upravlenie finansovymi aktivami: edinye standarty otsenki // Finansovyy vestnik: finansy, nalogi, strakhovanie, bukhgalterskiy uchet. 2012. № 5. 9. O reklame: federal'nyy zakon ot 13.03.2006 g. № 38-FZ. Dostup iz spravochno-pravovoy sistemy “Konsul'tantPlyus”. 10. Poryadok osushchestvleniya deyatel'nosti po upravleniyu tsennymi bumagami, utverzhdennyy Prikazom FSFR ot 3.04.2007 g. № 07-37/pz-n. Dostup iz spravochno-pravovoy sistemy “Konsul'tantPlyus”. 11. Andrianova L.N. Litsenzirovanie professional'noy deyatel'nosti na rynke tsennykh bumag // Finansy i uchet. 2012. № 1. S. 41-46.

Received

2014-11-22

Section of issue

Problems and prospects of development of modern economics

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