Investments  

BlackRock to comply with asset manager code

The CFA Institute has added BlackRock to the list of investment firms which comply with its code of conduct for asset managers.

The American multinational investment management firm has become one of 1,000 companies around the world which claim compliance with the code.

The Asset Manager Code of Professional Conduct outlines the ethical and professional responsibilities of firms which manage assets on behalf of clients.

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Rob Goldstein, BlackRock’s chief operating officer, said: “Investors deserve and should expect the highest level of professional conduct in the firms and individuals with whom they entrust their investments.

“Our clients entrust BlackRock to manage more assets than any other firm in the world, they are our number one priority.

“Adopting the Asset Manager Code of Professional Conduct is one more demonstration of our commitment to placing the needs and interests of our clients above all else.”

The code states asset managers should act for the benefit of their clients, be independent and objective and communicate with clients in a timely and accurate way.

Jonathan Boersma, head of professional standards at the CFA Institute, said: “Trust in the investment profession remains at risk, and it’s a critical moment for investors and the future of the financial system.

“We applaud BlackRock, and all firms that have adopted the code, for displaying a steadfast and tangible commitment to professional ethics and putting investors first.”

Adviser view

Bob Wilson, director of Norwich-based GreenSky Wealth, said: “All our investments are FCA regulated anyway so it wouldn’t make any difference to me as to whether I would put money with a particular company or not.

“Our process is based around who the fund manager is, whether they are any good and what their strategy is.”