Explain what the Asset Manager Code sets out to achieve and what a firm gains by adopting it

The Asset Manager Code applies to firms rather than individuals: it sets the standards a firm should meet when managing client assets, complementing the Code and Standards that bind its employees. It suits any manager, whatever its size, location, asset class or strategy. A firm adopting it must meet every provision, because partial compliance cannot be claimed, notify CFA Institute, and use the prescribed statement noting that CFA Institute has not verified the claim. Where local law is stricter the firm follows the law; where law conflicts with the Code, it follows the law and discloses the conflict. The benefits are credibility with clients and regulators, a ready framework for its own policies, and a signal of client-first culture.