NEW YORK, April 14, 2015 /PRNewswire/ -- CIFC Corp. (NASDAQ: CIFC) announced today that CIFC Credit Funds claims compliance with the Global Investment Performance Standards (GIPS®) and has been independently verified since inception in November 2012 through December 31, 2014.
For purposes of applying the GIPS® standards, CIFC Credit Funds refers to CIFC's total return credit funds, structured credit funds, and customized separately managed accounts ("SMAs"), managed on behalf of institutional and individual investors (which for GIPS® purposes is defined as the Firm). Total Assets Under Management for the CIFC Credit Funds as of March 31, 2015 is $0.8 billion.
The GIPS® standards are a rigorous set of standardized, industry-wide investment performance measurement principles that provide investment firms with guidance on how to calculate and report their investment results to prospective clients. They are recognized around the world for their unparalleled credibility, integrity, scope, and uniformity, enabling direct comparability of a firm's track record. The GIPS® standards were created and are administered by the CFA Institute, the global, not-for-profit association of investment professionals that awards the Chartered Financial Analyst (CFA) designation, among others.
Oliver Wriedt, Co-President of CIFC commented, "GIPS® compliance and verification is another step towards our commitment to adopt best practices and ensure transparency in reporting to our investors."
Rahul Agarwal, Chief Financial Officer of CIFC stated that, "CIFC Credit Funds retained the services of ACA Performance Services to examine performance measurement policies and procedures and verify compliance with the requirements of the GIPS standards. ACA was a very knowledgeable partner throughout the process."
CIFC is a fundamentals-based, relative value credit manager with $13.7 billion of loan based AUM at December 31, 2014. Headquartered in New York, CIFC is an SEC registered investment adviser and a publicly traded company (NASDAQ: CIFC). We currently serve over 250 institutional investors globally. For more information, please visit CIFC's website at www.cifc.com.
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding future results or expectations. Forward-looking statements can be identified by forward-looking language, including words such as "believes," "anticipates," "expects," "estimates," "intends," "may," "plans," "projects," "will" and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made, various operating assumptions and predictions as to future facts and conditions, which may be difficult to accurately make and involve the assessment of events beyond CIFC's control. Caution must be exercised in relying on forward-looking statements. The forward-looking statements in this release are subject to risks and uncertainties, and the other risks related to CIFC's business that are described in its annual report on Form 10-K. The forward-looking statements contained in this press release are made as of the date hereof, and CIFC undertakes no obligation to update any forward-looking statement to reflect subsequent events, new information or circumstances arising after the date hereof.
SOURCE CIFC Corp.