Guidance for after-tax reporting

The Investment and Financial Services Association (IFSA) has set up a working group to develop a ‘guidance note’ to enable members that want to publish after-tax returns to calculate these returns on a consistent methodological basis.

IFSA provides both ‘standards’ and ‘guidance notes’ for member funds, designed to inform members about industry best practice around certain areas. The decision to develop the after-tax reporting guidance note emerged during the recent production by an IFSA working group of a ‘standard’ dealing with ‘performance reporting’ by member funds.

“It was raised a number of times by members of this working group whether we should also be looking at creating a ‘guidance note’ for after-tax reporting,” according to IFSA chief executive Richard Gilbert.

IFSA subsequently decided to create a working group to “pool member thoughts on putting together a guidance note that would provide a consistent methodology for fund members wanting to report after-tax returns”.

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