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GIPS compliance

The fund management company SKAGEN AS claims compliance with the Global Investment Performance Standards (GIPS®). 

Standardise and compare reporting of investment performance

The Global Investment Performance Standards' aim is to increase comparability of investment managers by standardising the methodology that companies use to report investment performance.

The rules and principles set out in the Standards cover among others:

  • the preparation of data
  • the method of calculation
  • the presentation of investment results

GIPS® require firms to present investment results of all discretionary and fee-paying portfolios (existing and discontinued) in composites, accompanied by extensive disclosure. This is to reduce the possibility of managers presenting only those portfolios for comparison which have shown particularly good investment results over time.

Originally a US Standard, GIPS® is now used by asset managers across the globe. Find more information about GIPS.

Statement of compliance and independent verification

Return figures presented on SKAGEN's websites are single fund returns, not composite returns. GIPS compliant composite reports are available upon request. Such reports present performance information only in Norwegian kroner.

SKAGEN AS's claim of GIPS®-compliance is verified by PriceWaterhouseCoopers, a state-authorised public accountant and our external auditor. SKAGEN AS was independently verified for the first time in June 2009 for the period 1 January 2004 to 31 December 2008. The latest verification report is dated June 28, 2024 and covers the period from January 1 2023 to December 31 2023.

The GIPS® verification process

The verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS® standards on a firm-wide basis and (2) whether the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS® standards.

According to the GIPS® standards, "The firm" is defined as SKAGEN AS. All funds managed by SKAGEN AS are included in the presented composites. Both the GIPS® policy of SKAGEN AS, and a list of all composites and fully GIPS® compliant composite reports are available upon request.

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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