KUWAIT CITY, June 4: CFA Institute, the global association of investment professionals that sets the standard for professional excellence, has added KAMCO Investment Company KSC (Public) to the growing list of investment firms that claim compliance with its Asset Manager Code of Professional Conduct. KAMCO is one of more than 1,000 firms worldwide to 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 asset managers and offers a higher level of confidence in firms that adopt the code.
“Over the past years, we have gained investor confidence by implementing stern criteria and professional ethics towards our clients and their assets. Our level of expertise has allowed us to position ourselves as one of the top leaders in Kuwait and the region in terms of the noticeable size of our AUM, which is more than $11 billion,” said Mr. Faisal Sarkhou, Chief Executive Officer at KAMCO.
Mr. Sarkhou added: “Our clients entrust KAMCO to manage their assets and abide by all rules and regulations particularly in regards to the asset management sector; 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 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. The set standards help ensure that representatives are acting in a professional and ethical manner at all times, while addressing the client’s best interest. Representatives also need to act independently and objectively while timely and accurately communicating to clients in a skillful, competent and diligent manner that upholds the rules governing the capital markets.
“Trust in the investment profession remains at risk, and it’s a critical moment for investors and the future of the financial system,” said Jonathan Boersma, CFA, head of professional standards at CFA Institute. “We applaud KAMCO, and all firms that have adopted the code, for displaying a steadfast and tangible commitment to professional ethics and putting investors first.”
There are more than 1,000 firms claiming compliance with the Code including BlackRock, Ariel Investments, Janus Capital Management, JP Morgan Asset Management, Loomis Sayles, Morgan Stanley Investment Management, Inc., TD Asset Management, and US Bancorp Asset Management.