JAPONICA
LARGEST and FIRST BILLION DOLLAR PRIVATE EQUITY GIPS®
VERIFIED
-----Japonica
Also Among First Over-a-Billion with Hedge Fund Traits-----
Dateline:
Providence, Rhode Island USA, December 28, 2005
Japonica
Partners, the firm, has been independently verified as GIPS®
compliant since its inception in 1987. In addition, the
performance record of Japonica’s “Entrepreneurial
Co-Investment” Composite is now audited in accordance
with GIPS®. The Composite includes all of the Firm’s
Co-Investment and Limited Partnership Agreements since inception.
The
CFA Institute’s GIPS® – Global Investment
Performance Standards – is the current global best
practice in ethical performance reporting. GIPS® is
endorsed as a global “passport”, facilitating
greater comparability and integrity of investment returns.
“Largest
and First over a Billion”
Global
industry practitioners indicate Japonica Partners is the
first firm with a composite over $1 billion in assets verified
as compliant with GIPS® Private Equity provisions. And,
Japonica Partners is also among the first with hedge fund
traits having a composite over $1 billion verified as GIPS®
compliant. Held to a higher standard, Japonica calculates
and presents investment returns using both Private Equity
metrics (e.g., Net IRR, TVPI) and hedge fund metrics (e.g.,
Time-weighted Total Return).
“Japonica
yet again set a without peer billion-dollar plus global
benchmark, this time with GIPS® verification,”
noted Japonica Partners Founder & Managing Director
Paul B. Kazarian. “Japonica co-investors will recognize
the value of having Japonica’s entrepreneurial returns
audited in accordance with GIPS®.”
“The
Two Michaels”
Japonica
Partners is an entrepreneurial co-investment firm that makes
concentrated investments in underperforming global large
caps. Japonica’s special core competency is changing
corporate cultures to cultivate entrepreneurial returns
for its co-investors who succeed with top quartile performance.
Integral to Japonica’s success is its patent-pending
Top Quartile IRR Hurdle Rate alternatives selected by co-investors.
Japonica’s
largest co-investors include accomplished hedge fund and
mutual fund managers who individually had over $500 million
with Japonica. Japonica will continue to provide customized
reports similar to those provided to its earliest co-investor
limited partners –“the two Michaels”–
Michael Steinhardt and Michael Price.
Beacon
Verification Services, the industry’s premier specialist
firm, performed the verification and audit in accordance
with GIPS®. “Japonica is a firm with a very unique
business model, and the GIPS® compliance verification
and performance examination/audit are indications that Japonica
is among the leaders of the alternative asset pack in comparability
and integrity of performance reporting,” said Jeff
Tarumianz, CFA, President of Beacon.
About Japonica Partners:
Japonica
Partners is an entrepreneurial co-investment firm that makes
concentrated investments in underperforming global large
caps, providing entrepreneurial returns for accomplished
money managers who succeed with top quartile
performance.
For
more information contact:
Chet Hollister, Principal, Japonica Partners
401.861.6160, chollister@japonica.com, www.japonica.com
About
GIPS®:
CFA
Institute (formerly known as the Association for Investment
Management and Research or AIMR) recognized the need for
a global set of performance presentation standards, and
in 1995, it sponsored and funded the Global Investment Performance
Standards (GIPS®) Committee to develop a single standard
for presenting investment performance. In February 1999,
the GIPS® committee finalized the GIPS® standards
and presented them to the AIMR Board of Governors, who formally
endorsed them.
With
the release of the GIPS® standards in 1999, the GIPS®
committee was replaced by the Investment Performance Council
(IPC), which serves as the global committee responsible
for the Standards. It consists of 36 members from 15 countries.
The principal goal of the IPC is to have all countries adopt
the GIPS® standards as the standard for investment firms
seeking to present historical investment performance. The
IPC endorses GIPS® compliance acting as a “passport”
that allows firms to enter the arena of investment management
competition on a global basis.
Key
industry groups involved in and contributing significantly
to promoting and developing the GIPS® standards include:
The Hong Kong Society of Financial Analysts (Hong Kong),
The Security Analysts Association of Japan (Japan), Swiss
Bankers Association (Switzerland), and National Association
of Pension Funds Ltd (United Kingdom). Today, 25 countries
throughout North America, Europe, Africa, and the Asia Pacific
Region have adopted the GIPS® standards, encouraging
investment management firms to follow the Standards when
calculating and reporting their performance results.
In
North America, the GIPS® standards were based on and
preceded by AIMR Performance Presentation Standards. AIMR-PPS®
standards converge with the GIPS® standards on 1 January
2006.
For
more information about GIPS:institute.org/cfacentre/ips
About
Beacon Verification Services:
Beacon
Verification Services, LLC is a leading provider of AIMR-PPS®
and GIPS® compliance verification and consulting services.
Beacon offers superior services due to its extensive experience
in the performance measurement and investment management
industries.
Beacon’s
mission is to revolutionize the AIMR-PPS® and GIPS®
verification industry so that investment managers demand
that verifiers are proficient in investment management,
performance measurement and governing standards. Beacon’s
vision is to become known as the premier AIMR-PPS® and
GIPS® verification firm by making the firm’s value
known through knowledge, hard work and attention to detail.
Beacon
services all types of investment management firms ranging
between $20 million and $350 billion in assets under management.
For
more information contact:
Jeff Tarumianz, CFA
President, Beacon Verification Services
866.279.0750
info@beaconvs.com
www.beaconvs.com
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