CFSGAM becomes largest Australian asset manager to adopt CFA Code of Conduct

The Asset Manager Code of Professional Conduct (the Code) was developed by CFA Institute to provide a universal framework for asset managers to assess the quality of their business policies, practice and conduct, covering all key aspects of an investment management business which adopters of the Code commit to meeting.
The Code sets a credible global industry standard for investment best practice and for investment professionals’ ethical conduct.

CFSGAM’s Global Head, Responsible Investment, Will Oulton, said “CFSGAM strives to be a global leader in responsible investment and stewardship, which is reflected in the quality of our investment teams and our long-term client–centric focus. By complying with the Code, we are showing a clear commitment to maintaining the highest ethical standards as a steward of our client assets and in our day to day business conduct. This step complements our own set of Global Stewardship Principles which were developed in 2013 to ensure that client interests are at the heart of our firm’s global investment approach.

CFSGAM’s Chief Executive Officer, Mark Lazberger, who is also on the Board of Governors of CFA Institute, said “CFSGAM is very supportive of the CFA Institute’s work on professional ethics, and we believe it is now more important than ever for asset managers to demonstrate their commitment to the highest standards of professional and ethical conduct. Demonstrating our compliance with the Code is an important message to our clients and is central to maintaining their confidence and trust. As one of Australia’s largest global fund managers I hope we can encourage our peers in the market to follow suit.”

Anthony Serhan, President of CFA Society of Sydney and Managing Director, Research Strategy, Asia-Pacific at Morningstar, said that the Code aims to encourage asset managers to commit to fairness and integrity in their dealing with investors and the broader financial community.

“We established the Code to provide investors with a common basis on which to compare investment firms across global markets, as we believe that a universal set of principles and values is paramount to true borderless markets,” said Mr Serhan.

“Compliance with the Code reflects not only a company’s efforts to put in place a set of standards, but also its determination to establish an ethics-based culture, and commit to placing the interests of investors first.

“We are delighted that CFSGAM has become the latest major financial institution to disclose compliance with the Code and as Australia’s largest asset manager this will send a strong signal to others in the market“.