What is the importance of choosing to present our Mutual Funds Performance published by the EIMA?

The Egyptian Investment Management Association (EIMA) is an Egyptian Professional Association established in 2000 to represent Asset & Investment Management companies active in the Egyptian Capital Market. In April 1999, the Association for Investment Management and Research (AIMR), with the goal of expanding industry ethical standards, published the Global Investment Performance Standards (GIPS) to meet the needs of the global investment management industry. The GIPS Committee had the objective of obtaining worldwide acceptance of a standard for the calculation and presentation of investment performance in a fair, comparable format that provides full disclosure.

In October 2000, EIMA formed the Egyptian Investment Performance Committee, to work with the Capital Markets Development Project to develop performance standards for Egypt that would both embody all of the requirements of GIPS and address certain specific needs of the Egyptian investment community. As a consequence, the EIMA has adopted, with no amendments, a country version of GIPS to be entitled "The Egyptian Investment Performance Standards (Egypt-IPS)". EIMA envisages that Egypt-IPS will provide particular benefit to Egyptian mutual fund holders, pension funds, and trustees and will be accepted, in time, within Egypt by all sectors of the investment industry. Meanwhile, these standards have been endorsed by the Capital Market Authority.