Sunday 22 April, 2018

Fortress setting high standards

Chief Investment Officer of Fortress Fund Managers, Peter Arender.

Chief Investment Officer of Fortress Fund Managers, Peter Arender.

A Barbadian firm is setting itself apart for asset management in the region.

Local investment firm, Fortress Fund Managers, has signed on to the CFA Institute’s Asset Manager Code of Conduct signalling its commitment to maintain the highest ethical standards on behalf of its clients.

CFA Institute is a global organisation of investment professionals working to build an investment industry where investors’ interests come first, financial markets function at their best, and economies grow, and Peter Arender, chief investment officer of Fortress Advisory and Investment Services, explained that the Code fits perfectly with the company’s business model.

He said, “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.  Over the years they have put their trust and confidence in us and we wanted to further cement our commitment to them as we continue to build our business.”

Over 1300 global firms comply with CFA’s Code which helps asset managers to 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 BDS $650 million, across 13 different funds with regional and global investments.