Riyadh Development adopts CFA Institute's GIPs

Riyadh Development Co. (ARDCO) announced that it has adopted the Global Investment Performance Standards (GIPS) for Asset Owners, issued by the CFA Institute, according to a Tadawul statement.

In addition, the company completed an independent verification of its investment performance policies and procedures.

This milestone reflects ARDCO’s focus on adopting international best practices in investment performance reporting and strengthening transparency and institutional governance. Compliance with GIPS supports consistent, transparent, and comparable performance reporting for investors, lenders, and regulators.

The project was completed in two phases, including the development of the required governance framework, policies, and performance calculation methodologies. This was followed by an independent verification conducted by The Spaulding Group Performance (TSGP) in accordance with GIPS requirements.

This achievement forms part of ARDCO’s broader institutional excellence program and ongoing efforts to implement internationally recognized ISO standards across governance, risk management, quality, sustainability, and information security, in support of its strategic objectives and Saudi Vision 2030.