New York, 19 September 2013
CFA Institute, the global association of investment professionals that sets the standard for professional excellence, has added State Street Global Advisors to the growing roster of investment firms that claim compliance with its Asset Manager Code of Professional Conduct. State Street Global Advisors joins over 900 firms worldwide that claim compliance with the code.
The Asset Manager Code of Professional Conduct clearly outlines the ethical and professional responsibilities of firms that manage assets on behalf of clients. For investors, the code provides a benchmark of ethical conduct they should expect from their asset managers and offers a greater level of confidence in firms that adopt the code.
“More than ever, investors need to know there are ethical leaders in the financial industry they can trust, and who are committed to providing for their best interests,” said Rick Lacaille, Chief Investment Officer of State Street Global Advisors. “As one of the world’s leading asset managers, we take fiduciary responsibility very seriously. Adopting the Asset Manager Code of Professional Conduct is one of the many ways in which we demonstrate that commitment to our clients.”
The Asset Manager Code of Professional Conduct is grounded in the ethical principles of CFA Institute and the CFA Program, and requires that managers commit to the following professional standards:
- 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
“The financial industry is dealing with a crisis of investor trust, and it is up to ethical investment professionals and firms to demonstrate their integrity and restore trust in the profession,” said Kurt Schacht, JD, CFA, managing director of Standards and Financial Market Integrity at CFA Institute. “The Asset Manager Code of Conduct offers ethical firms the opportunity to take the lead and show their commitment to shaping a more trustworthy financial industry.”
In the United States, there are a total of 772 firms claiming compliance with the Code including Loomis Sayles, Morgan Stanley Investment Management, Inc., US Bancorp Asset Management, JP Morgan Asset Management, Ariel Investments and Janus Capital Management.
CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 113,000 members in 140 countries and territories, including 102,000 CFA charterholders, and 137 member societies. For more information, visit www.cfainstitute.org.
State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors. www.ssga.com.