AustralianSuper has announced it will enforce manager compliance with the CFA asset manager code of conduct.
AustralianSuper has enforced the CFA code – created by the CFA Institute – believing its adoption will help drive better standards throughout the investment industry.
AustralianSuper deputy chief executive and chief investments officer Mark Delaney 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."
The fund now requires all external managers to adopt and comply with the CFA code.
“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,” Mr Delaney said.
CFA Society Sydney president Anthony Serhan said the code outlines the ethical and professional responsibilities of firms that manage assets on behalf of clients.
“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,” Mr Serhan said.
Progress on diversity across the investment industry has been too slow, according to Willis Towers Watson, as it has warned it may downgrade...
AMP could face further risks according to analysts at Morgan Stanley, with the negative flow trends across the wealth giant expected to cont...