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Oman's Social Protection Fund investment unit gains GIPS verification
🇴🇲 Oman /Economy & Trade

Oman's Social Protection Fund investment unit gains GIPS verification

From Times of Oman · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

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  • The Investment Unit of Oman's Social Protection Fund (SPF) has achieved Global Investment Performance Standards (GIPS) verification from the CFA Institute.
  • This verification demonstrates the unit's commitment to international best practices in investment management and reporting transparency.
  • GIPS standards enhance the reliability and comparability of investment performance, boosting stakeholder confidence.

The Investment Unit of Oman's Social Protection Fund (SPF) has achieved a significant milestone by obtaining independent verification of its compliance with the Global Investment Performance Standards (GIPS). Issued by the CFA Institute, this achievement underscores the unit's dedication to adopting internationally recognized best practices in investment management and performance measurement.

Obtaining independent verification of compliance with the GIPS standards marks an important milestone in the Investment Unit’s practices with internationally recognized standards and further strengthen governance in the management of the Fund’s assets.

— Hamad bin Mohammed Al-WahaibiThe Head of the Investment Unit of the Social Protection Fund commented on the significance of achieving GIPS verification.

This verification is expected to strengthen transparency, governance, and the credibility of SPF's investment reporting. The GIPS standards are globally recognized voluntary frameworks that promote full disclosure and fair representation in calculating and presenting investment performance. Their widespread adoption by leading asset owners and investment managers worldwide enhances the reliability and comparability of performance data, fostering greater stakeholder confidence.

This achievement enhances the credibility of our investment reporting, supports more informed investment decision-making, and reinforces stakeholders’ confidence in our investment management practices.

— Hamad bin Mohammed Al-WahaibiAl-Wahaibi elaborated on how the GIPS verification benefits the fund and its stakeholders.

Hamad bin Mohammed Al-Wahaibi, Head of the Investment Unit, highlighted the importance of this achievement. He stated that GIPS compliance marks a crucial step in aligning the unit's practices with global standards and further solidifying governance in asset management. Al-Wahaibi emphasized that this enhances the credibility of their investment reporting, supports informed decision-making, and reinforces stakeholders' trust in their management practices. He also noted it reflects a continuous commitment to adopting global best practices in asset management and performance measurement.

It also reflects our commitment to continuously adopting global best practices in asset management and investment performance measurement.

— Hamad bin Mohammed Al-WahaibiThe Head of the Investment Unit reiterated the fund's dedication to global standards.
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Originally published by Times of Oman in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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