KARACHI (PR) - CFA Association of Pakistan and Mutual Funds Association of Pakistan organized a workshop to facilitate implementation of Global Investment Performance Standards (GIPS) in Pakistan. The workshop was attended by investment managers, compliance and risk officers. Global Investment Performance Standards (GIPS) have been developed by CFA Institute, headquartered in USA, which has gained prominence worldwide. GIPS are ethical principles to achieve full disclosure and fair representation of investment performance. GIPS has been adopted by more than 30 major countries including Pakistan. The inconsistency in the performance presentation standards used by the mutual funds industry in Pakistan has emerged as one of the major challenges to the growth of the industry. This gives rise to the need to create a uniform set of principles for calculating and presenting investment performance. The implementation of well recognized GIPS by asset managers in Pakistan will help develop standards in performance reporting.