Local investment firm Fortress Fund Managers has announced its intention to comply with the strictest international practices by chartered financial analysts.
It has signed on to the asset manager code of conduct by CFA Institute, which describes itself as “the largest association of investment professionals in the world”.
Chief Investment Officer of Fortress Advisory & Investment Services Peter Arender said that the code fitted perfectly with the company’s business model.
“Fortress already has its own code of ethics in place, so the adoption of CFA’s Code is totally voluntary. This a strong indication that we are complying with international ethical practices, which is good news for our clients,” Arender said.
Over 1,300 global firms comply with CFA’s code, which helps asset managers practice ethical principles that put clients’ interests first. It outlines the ethical and professional responsibilities of firms that manage assets on behalf of clients and provides standards and supportive guidance based on general principles of conduct.
The code states that managers have a number of responsibilities to their clients, including to act in a professional and ethical manner at all times for the benefit of clients, with independence and objectivity as well as with skill, competence, and diligence and to communicate with them in a timely and accurate manner.
Fortress manages more than $650 million across 13 different funds with regional and global investments.