Performance Perspectives Blog

If God didn’t want us to lie, He wouldn’t have invented politicians

by | Oct 31, 2013

I’ve been wanting to use the line in today’s heading, and stumbled upon a way (though it may be a stretch). I came up with it recently, and think it’s clever (but I’m biased a bit). As a former politician, I am fully aware of the linkage between the art of lying and politics. But enough of that. How did I decide I could use it here?

Well, I had a conversation recently with someone from a public pension fund, who told me that she is under some pressure from one of the state’s elected officials to bring their group into compliance with GIPS(R) (Global Investment Performance Standards). I thought this was excellent.

Although I haven’t yet had the chance to chat with this fellow, I’m guessing that the recognition that the Standards promote ethical behavior, full disclosure, and transparency, as well as being seen as best practice, are enough reasons to justify this step.

It’s way too early to tell whether compliance by asset owners will catch on, but here’s at least one case where it’s likely.