Feburary 28, 2022
Hassana Investment Company “Hassana” – the investment arm of the General Organization for Social Insurance – announced that the company has obtained a certificate of verification procedure by an external party in compliance with the global investment performance standards known as (GIPS®) - The Global Investment Performance Standards - issued by the Chartered Financial Analysts Institute CFA Institute, which are considered global standards based on the basic principles of measuring investment performance.
These standards are certified in 48 countries, and are recognized worldwide for their credibility and integrity, in addition to enabling direct comparison between different entities, however, this certification is considered the reward of Hassana's efforts and endeavors over the past few years to fulfill all the obligations required to obtain this honorable certificate. This commitment to the highest standards reflects the Hassana Investment Company's keenness, since its founding, to continuously strive to implement international best practices for accurate procedures and standards for evaluating and measuring the performance of Hasana’s investments, and presenting this in the reports to stakeholders. This step comes after when the company obtained the certification of an external auditor for its compliance with these international and internally applied standards, within the framework of strengthening investment performance measurement mechanisms, and applying international best practices in the field of asset management, governance and compliance. In this regard, the CEO of Hasana Investment Company, Mr. Saad bin AbdulMohsen Al-Fadhli, expressed his great pride in this certification, which is added to the achievements of Hasana Investment Company. Al-Fadhli added: “This achievement is the reward of Hasana’s success, since its foundation, in applying best international practices in many aspects, for example, adopting the best systems and techniques for measuring investment performance and risks, and the optimal application of governance and compliance policies, and these practices are not the end.” For his part, the Chairman of the Saudi Association of Certified Financial Analysts, Mr. Ahmed Kurdi, confirmed that Hassana Investment Company's commitment to the global standards for measuring investment performance (GIPS) and approved by the Institute of Chartered Financial Analysts (CFA) shows their commitment in applying best international practices to display investment performance. Also, The application of these standards is an indication of the quality of governance procedures, plus performance and risks measuring systems, which enhances stakeholder confidence in reports related to the performance of investment portfolios managed by Hassana Investment Company. Kurdi added, "The declaration of commitment to international standards for measuring investment performance by Hassana Investment Company enhances its leading role in the region, and it is a motivation for all asset owners and managers to follow what Hassana has done."
Hassana Investment Company receives a certificate of compliance with the global standards for measuring investment performance (GIPS®)
Feburary 28, 2022