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Global Investment Performance Standards (GIPS®)

Please read the following information concerning Global Investment Performance Standards (GIPS®).

Meaning and purpose of GIPS Standards

GIPS Standards are international standards and recommendations used by asset managers outlining how key figures for performance and risk may be presented to customers. Mandates with similar strategic orientations are combined into so-called "composites" and their performance is presented on a consolidated basis. The GIPS Standards provide the following advantages:

  • Consistency and verifiability in the calculation and presentation of the performance results realised as well as aggregation of the individual composites.
  • Comparability of the performance results of composites and/or pooled funds with other institutes, irrespective of the strategic orientation, for existing and potential investors.
  • Transparency due to the publication of quantitative key figures and explanatory information in the GIPS reports.
  • Full disclosure of the relevant mandates and the corresponding period results in avoiding "cherry picking".

GIPS compliance and the firm

For institutional asset management mandates:

The GIPS firm "Diskretionäre Vermögensverwaltungsmandate der Swisscanto Invest by Zürcher Kantonalbank" claims compliance with the Global Investment Performance Standards (GIPS®) and comprises all asset management mandates managed by Zürcher Kantonalbank's institutional asset management at its head office in Zurich. All Swisscanto fund solutions and private asset management mandates are not included. In terms of the GIPS Standards, all mandates that have a certain minimum portfolio size and are independent of their customers in terms of their investment decisions are regarded as discretionary.

The GIPS firm “Diskretionäre Vermögensverwaltungsmandate der Swisscanto Invest by Zürcher Kantonalbank” has been independently verified for the period from 1 January 1993 to 31 December 2021 by PricewaterhouseCoopers AG. Verification is carried out annually and the most recent verification report was prepared as of 31 December 2021.

For funds:

The GIPS firm "Swisscanto Invest & ZKB ETF" comprises the investment management business with respect to investment funds and exchange-traded funds of Swisscanto Fondsleitung AG, Zurich, and Swisscanto Asset Management International S.A., Luxembourg, as well as the exchange-traded funds of Zürcher Kantonalbank, Zurich. The Firm does not include segregated asset management portfolios of private, professional and institutional clients, which are part of the GIPS firms "ZKB Standardmandate" and "Diskretionäre Vermögensverwaltungsmandate der Swisscanto Invest by Zürcher Kantonalbank". The firm was created as of 01.07.2015 as a result of the merger between Zürcher Kantonalbank and Swisscanto Group and includes all investment funds and exchange-traded funds previously managed by Swisscanto Group and Zürcher Kantonalbank.

The GIPS firm "Swisscanto Invest & ZKB" ETF has been independently verified for the period from 31 December 2010 to 30 June 2021 by PricewaterhouseCoopers AG.

GIPS report

The following information can be found in the report:

  • Quantitative key figures: all the data since the inception date of the strategy or, at maximum over the last 10 years, are shown.
  • The disclosure section of the GIPS report includes information regarding compliance with GIPS standards, the definition of the firm and information on the investment strategy as well as the methodology applied for calculating composite fund and benchmark returns and their risk measures. The composition of the benchmark used is also an important part of the disclosures.

GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Individual GIPS reports and additional information relating to GIPS compliant performance information for the firm’s strategies and products can be requested from Zürcher Kantonalbank's Asset Management.

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Last update: April 2022