Investment Industry Standards

Asset Manager Code

We offer the voluntary CFA Institute Asset Manager Code to help asset managers practice ethical principles that put client interests first.

Why Is It Important?

The Code outlines the ethical and professional responsibilities of organizations that manage assets on behalf of clients. It provides standards and supportive guidance based on general principles of conduct.

The Code states that managers have these responsibilities to their clients:

• 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

To learn more about the most widely adopted global code of professional conduct for organizations managing clients’ investments, click here.

Interested in becoming compliant?

Diversity, Equity, and Inclusion Code

Diversity, equity, and inclusion (DEI) are crucial elements in the future of the investment industry and the success of investment firms. CFA Institute recognizes that a diversity of perspectives will lead to better investor outcomes; an inclusive investment industry will better serve our diverse society. Further, we recognize that an organization, with an inclusive culture, awareness and education, and effective working relationships, is a better place to work. To help ensure these critical initiatives, CFA Institute has developed a voluntary code to guide DEI, beginning in the United States and Canada.

ESG Disclosure Standards for Investment Products

The Global ESG Disclosure Standards for Investment Products are the first global voluntary standards for disclosing how an investment product considers ESG issues in its objectives, investment strategy, and stewardship activities.

Relevant
Helps investors, consultants, advisors, and distributors better understand, compare, and evaluate investment products and diminishes the potential for “greenwashing.”

Flexible
Designed to accommodate the full range of investment vehicles, asset classes, and ESG approaches offered in markets around the world.

Complementary
Addresses current gaps in regulation and helps harmonize disclosure practices in different markets.

Global Investment Performance Standards

The GIPS® standards are a set of industry-wide principles that guide investment firms on how to calculate and report their investment results to prospective clients, based on the principles of fair representation and full disclosure. We encourage firms to voluntarily adopt these standards.

Investment performance is a fundamental part of all investing, and it is relevant to every investment and to every investor. It is important for the evaluation of progress against objectives, the selection of managers, and the calculation of incentives. Investment firms and asset owners that adopt the GIPS standards display their commitment to ethics and transparency and instil investor confidence.

To ensure continued relevance, the GIPS standards are developed by CFA Institute in partnership with industry experts and GIPS Standards Sponsors from around the globe.

Other Codes and Standards

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