Views on improving the integrity of global capital markets
30 January 2012

CFA Institute Asset Manager Code: Coming to an RFP Near You

Posted In: Asset Manager Code
Bob Dannhauser, CFA

One consequence of recent well-publicized frauds targeting even the most sophisticated of investors (think Madoff, Stanford, et al) is a sharper focus on investor due diligence review of asset managers. The old “Three Ps” (people, process, performance) have given way to increasingly expansive investigations of investment capabilities and the character of firms’ principals.

The CFA Institute Asset Manager Code of Professional Conduct sets a common bar for professional conduct, allowing investors to assess manager commitment to principles that affirm client interests. While it isn’t likely the final word in manager evaluation, increasingly it is a starting point for singling out managers who back up marketing patter with real commitment to high standards of conduct.


In the video below, Michael Trotsky, CFA, executive director of the Massachusetts Pension Reserves Investment Management Board, discusses how plan sponsors increasingly use the Asset Manager Code to identify investment managers that commit to commonly held standards of conduct.






About the Author(s)
Bob Dannhauser, CFA

Bob Dannhauser, CFA, was the head of global private wealth management at CFA Institute.

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