CDPQ Becomes First Canadian Pension Fund to Adopt CFA Institute Asset Manager Code

CDPQ today announced its compliance with the CFA Institute Asset Manager Code™ (the Code), becoming the first Canadian pension fund to achieve this. The Asset Manager Code 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 asset managers. By adhering to the code, CDPQ is adopting a shared framework that allows clients to quickly identify organizations that follow a common foundation of ethical principles.

“As an institutional investor, CDPQ continuously improves its governance rules based on industry best practices. Integrity and responsibility are central to how we create value for our depositors and our communities,” said Maarika Paul, Executive Vice-President and Chief Financial and Operations Officer at CDPQ. “Adopting CFA Institute standards is another step in demonstrating CDPQ’s leadership on best governance practices.”  

The Asset Manager Code 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

"It is at the core of our mission to advance ethics, professional standards of practice, and market integrity in the investment management industry,” said Karyn Vincent, Senior Head, Global Industry Standards, CFA Institute. “We applaud CDPQ for adopting the code, displaying a steadfast and tangible commitment to professional ethics, and putting investors as well as stakeholders first. This is in addition to CDPQ being compliant with the Global Investment Performance Standards (GIPS®) for more than 20 years—another sign of CDPQ’s commitment to following the highest industry standards.” 

More than 1,000 organizations worldwide claim compliance with the Code, including Ariel Investments, BlackRock, Janus Henderson Investors, J.P. Morgan Asset Management, Afore XXI Banorte, BBVA Asset Management Mexico, Credicorp Capital Asset Management, Itaú Unibanco Asset Management and Principal Afore. (View the full list.)