LAHORE - UBL Fund Managers, Pakistans leading Asset Management Company and a wholly owned subsidiary of United Bank Limited (UBL) has announced adoption of the Global Investment Performance Standards (GIPS) for its funds performance reporting, says a press release. Pakistan is amongst the 30 countries in the world to adopt GIPS, and UBL Fund Managers is the first Asset Management Company in Pakistan to implement GIPS compliant reporting standards. Developed by the CFA Institute headquartered in USA, GIPS are a set of ethical standards for the calculation and presentation of investment performance designed to ensure fair representation and full disclosure of a fund managers performance information. GIPS provide an ethical foundation and self-regulated means to communicate performance figures to prospective and current clients so that they can make informed investment decisions.