AustralianSuper’s Deputy Chief Executive and Chief Investments Officer, Mark Delaney CFA said that, as the nation’s biggest superannuation Fund, AustralianSuper actively supported the adoption of the CFA Asset Manager Code of Professional Conduct (CFA Code), which aligned with the Fund’s commitment to protect and maximise members’ retirement outcomes.
“Our Fund is entrusted with the retirement savings for more than 2 million Australians. That trust is very important to us and it underpins our philosophy of Members First,” he said. “The CFA Code’s general principles of conduct underpin the minimum standards that AustralianSuper drives within its investment agreements. It provides a clear and consistent ethical and professional behaviour framework across all managers in all asset classes.”
Mr Anthony Serhan, President of CFA Society Sydney, said the Code outlined the ethical and professional responsibilities of firms that manage assets on behalf of clients.
“Asset managers hold a unique place of trust in the lives of millions of investors, particularly in Australia where we have mandated superannuation. The Code was designed by CFA Institute to be adopted globally within the industry as a template and guidepost for investors seeking managers who adhere to sound ethical practice,” he said.
AustralianSuper employs a disciplined and robust investment process in the identification, assessment and appointment of external managers and has adopted a series of minimum standards by which its external managers provide their investment services. The standards include the mandatory adoption of, and compliance with, the CFA Code.
Mr Delaney said AustralianSuper was often asked by potential new external managers to accept the managers’ own code of conduct.
“AustralianSuper enforces the manager’s compliance with the CFA Code to put all our external managers on the same ethical standards and to drive higher and better standards throughout the investment industry.”
Source: CFA Societies Australia
