CFA Institute has added State Street Global Advisors (SSgA) to the growing roster of investment firms that claim compliance with its Asset Manager Code of Professional Conduct. SSgA joins over 900 firms worldwide that claim compliance with the code.
The Asset Manager Code of Professional Conduct clearly outlines the ethical and professional responsibilities of firms that manage assets on behalf of clients. For investors, the code provides a benchmark of ethical conduct they should expect from their asset managers and offers a greater level of confidence in firms that adopt the code.
“More than ever, investors need to know there are ethical leaders in the financial industry they can trust, and who are committed to providing for their best interests,” said Rick Lacaille, chief investment officer of SSgA. “As one of the world’s leading asset managers, we take fiduciary responsibility very seriously. Adopting the Asset Manager Code of Professional Conduct is one of the many ways in which we demonstrate that commitment to our clients.”
The Asset Manager Code of Professional Conduct is grounded in the ethical principles of CFA Institute and the CFA Program, and requires that managers commit to the following professional standards:
• To act in a professional and ethical manner at all times;
• To act for the benefit of clients;
• To act with independence and objectivity;
• To act with skill, competence, and diligence;
• To communicate with clients in a timely and accurate manner;
• To uphold the rules governing capital markets.
“The financial industry is dealing with a crisis of investor trust, and it is up to ethical investment professionals and firms to demonstrate their integrity and restore trust in the profession,” said Kurt Schacht, managing director of standards and financial market integrity at CFA Institute. “The Asset Manager Code of Conduct offers ethical firms the opportunity to take the lead and show their commitment to shaping a more trustworthy financial industry.”
In Asia Pacific, the Asset Manager Code of Professional Conduct is increasingly being adopted by regional and global firms. Among the firms that recently adopted the code are SLF Strategic Advisers Private Limited (Singapore), Brook Asset Management Ltd. (New Zealand), Al Meezan Investment Management Limited (Pakistan), and Lloyd George Management (Hong Kong) Limited (Hong Kong).
