The Guild of Investment and Financial Analysts (GIFA) is a non-profit organisation of Russian investment professionals. GIFA was found in 1998. Its mission is to assist the development of the Russian capital market development by introducing modern standards of professional qualification and professional conduct of Russian specialists in investment and financial areas.
Members of the Guild are principally involved in the investment industry and who perform technical and quantitative analysis, planning, appraisal and management of investments. They may be involved in either direct or indirect investments. In the investment profession, members of the Guild work for investment funds, banks, insurance companies and firms involved in analysis, consulting and auditing. They also work with universities and business schools.
GIFA is an associate member of the European Federation of the Financial Analysts Societies (EFFAS), which assists GIFA to develop links and co-operation with similar associations in European countries. GIFA also is a member of a special international group of EFFAS on developing evaluating methods for national codes of professional conduct.
GIFA is a member of Association of Certified International Investment Analysts (ACIIA), which was founded by EFFAS and a similar international organisation of Asian countries (ASAF) in 2000. The task of ACIIA is to supervise certification of investment professionals in member countries introducing modern qualification "Certified International Investment Analyst - CIIA", developed by founders of ACIIA. Today the qualification CIIA is introducing in 16 countries and the number of them is growing
Main areas of GIFA activity includes:
As a member of ACIIA, GIFA is responsible for organisation of this certification in Russia. In 2001 the project of introduction of CIIA qualification was developed and the Guild has started the examination in 2002.
GIFA is also involved in the development of the National Code of Ethics of Investment Professional. The text of the Code is under development and discussion. It is planed to have it approved by national investment society and apply by the end of 2002.
In co-operation with different partners GIFA organizes conferences and seminars, round table discussions. Those activities in 2001-2002 include presentation report on corporate governance in Russia for EFFAS conference (Berlin, September 2001), round table discussion on development in Russia the National Cord of Corporate Governance (Moscow, October 2001), conferences on the budget planning and management in regions of Russian Federation (Moscow, March 2002), conference on Russian and Ukrainian investment market development (Kiev, June 2002), conference on financial transparency and its influence on capitalisation of a company (to be held in Moscow in October 2002).
Introduction of CIIA qualification, the development of National Code of Ethics of Investment Professionals and other GIFA activities are supported by federal authorities and the Russian business community. GIFA co-operates with the Federal Commission of the Market of Securities, the Central Bank of Russia, the Ministry of Economy, the Committee of Financial Markets of the Council of Federation of Russian Parliament. The following leading investment companies and banks become official partners of GIFA in the introduction of new qualification CIIA: "Brunswick UBS Warburg"(Russia), "CentroCredit Bank", "EUROFINANCE Bank", "HORIZON Investment Company", "REGION Investment Company", "LUKOIL-Reserv-Invest", "Pro-Invest IT". Other well known institutions and firms, like "Baker&McKenzie", "National Association of Participants of the Russian Market of Securities (NAUFOR)", "International Centre for Accounting Reform", "Information Agency FINMARKET", "ISI Emerging Markets" provide GIFA with informational, legal and other support.