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CEM Benchmarking Announces Launch of the New Global Reporting Standard for Institutional Investors
[May 24, 2022]

CEM Benchmarking Announces Launch of the New Global Reporting Standard for Institutional Investors

A team of experts from leading pension organizations has agreed to participate in a CEM Benchmarking initiative to create a new global reporting standard for institutional investors (GRSii). The standard will provide a comprehensive, clear and accessible set of guidelines for the reporting of performance, including costs. This new standard will improve market transparency and reporting and enable more comparable peer-to-peer analyses.

GRSii's Board will initially comprise seven members on behalf of institutional investors and a CEM Chair and Secretary. The Board brings together seasoned leaders from major geographic regions, including

  • Christopher Ailman, CIO, California State Teachers' Retirement System
  • Trent Brandie, Principal, Investment Reporting & Insights, AustralianSuper
  • Doug Clark, Head of Investment Research and Solutions, BT Pension Scheme
  • Julie Decaux, Senior Director FP&A, Public Sector Pension Investment Board
  • Frits Meerdink, Fund Management Expert, PGGM
  • Frank Toebosch, Expert of Internal Control, ABP
  • Natalie Gabba, Senior Director, Financial Performance and Administration, La Caisse de Dépôt et Placement du Québec

The GRSii will expand on existing regional cost reporting standards by including investment performance, and by being practically applicable and relevant globally. It will be a modular standard which will enable better maintenance as well as the opportunity to expand the standard as needed.

The standard will be released early 2023 with an initial focus on the definitio of total investment cost, followed by recommended cost disclosure detail and contextualization. Further topics to be explored include leverage, pension administration costs and responsible investing.

If you are interested in learning more, or have feedback on the GRSii standard, please contact us at

About CEM Benchmarking (CEM)

CEM Benchmarking is the leading, independent provider of cost and performance benchmarking information for fiduciaries and managers of asset pools: defined benefit, defined contribution, sovereign wealth, and other managed assets worldwide. CEM is deeply committed to helping clients, whether directly or through advisors/consultants, run cost-effective operations that generate value for their stakeholders. With vast industry knowledge and a robust database spanning 30 years and $11+ trillion in AUM, CEM helps more than half of the world's top 300 pension schemes understand and manage their costs and performance. CEM also facilitates better pension outcomes by both sharing cutting edge research derived from its proprietary databases and hosting annual conferences.

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