ACA Compliance Group (“ACA”) and Eagle Investment Systems (“Eagle”), a BNY Mellon company and part of Data and Analytics Solutions, announced today a joint approach to help support firms’ compliance with the new 2020 Global Investment Performance Standards (GIPS).
The first of its kind, this approach combines ACA’s GIPS compliance consulting and verification expertise with Eagle’s technology platform and Eagle Managed ServicesSM to provide an end-to-end solution that helps firms manage the GIPS composite maintenance and verification process. Together, ACA and Eagle provide firms with the expertise, robust tools, and technological efficiency to run a 2020 GIPS-compliant program, from policy and procedure development and updates, composite creation and maintenance, and disclosure reporting, to the firm-wide verification.
The combined approach begins with ACA providing consulting to the client on the requirements of the 2020 GIPS standards and assisting the firm with creating or modifying their GIPS-compliant framework (while still remaining independent to later conduct the verification). The client will then work directly with Eagle to manage the composite creation process within the Eagle hosted framework. Once the composite creation process is completed, ACA will conduct the firm-wide verification. The process is intended to be a seamless hands-on approach from start to finish.
The customizable, rules-based, and multi-currency solution is scalable to meet the needs of both small and large firms, while process automation and managed service expertise supports improved data quality and reporting transparency to simplify the GIPS compliance process.
“Building on the strength of our already established relationship with ACA, we are excited to bring this GIPS 2020 solution to the market,” said Joel Kornblum, Global Head of Strategic Alliances & Consultant Relations at Eagle. “We’re looking forward to combining ACA’s world class consulting services with Eagle’s technology to help asset managers and owners seeking to reap the full benefits offered by this solution to help support GIPS 2020 compliance.”
“GIPS 2020 marks the biggest change to the Standards since their introduction in 1999,” says Charlie Stout, Partner at ACA Performance Services. “Since the number and types of firms seeking compliance are expected to increase, we saw an opportunity to build on our relationship with Eagle to get out in front of our existing clients, but also to pursue new prospects who will be new to GIPS compliance.”