Described by chairman Daniel Godfrey as a “compass to assess the direction of travel in any circumstance”, it would enable members to ensure they have dealt with any situation that arises in a manner consistent with the principles of conduct.
In his blog, Godfrey said the industry body would work with stakeholders, the CFA Institute and the Chartered Institute for Securities and Investment to ensure the statement has “the most profound impact possible on our objectives.”
He said the first objective is to identify and articulate the values and principles that lie behind approaches to work and responsibilities, and the second is to provide members with a living work of guidance to help them adapt to change and to build trust and confidence from clients, policy makers and opinion formers.
Godfrey said the project had the scope to earn trust and give influence over the development of the operating environment with policy makers and regulators.
He said: “This project has the capacity to set the guiding principles that will drive the development of the asset management industry and assure its success, both in terms of delivering great results for clients and the economy and in capturing the inevitable global growth in long-term savings.”
Yesterday the IMA revealed which absolute return funds have failed to deliver positive returns over rolling 12 month periods.
