Codes and standards

We are committed to acting in our clients’ best interests. Here are the Codes and Standards that we have signed up to:

The Local Government Pension Scheme (LGPS) Advisory Board - Code of Transparency

We are one of the first investment managers to sign-up to the LGPS Advisory Board Code of Transparency. Signing up to the Code underlines our commitment to delivering transparent reporting of costs to assist administering authorities. We consulted with the Investment Association and Local Government Association on the template used for The Code to ensure that we can deliver what is required and that the information supplied is clear and consistent.

LGPS Advisory Board - Code of Transparency Letter

More information can be found on their website.

The Standards published by the FICC Markets Standards Board (FMSB)

We have been a member of the FMSB since its inception in 2015. We acknowledge that the Standards published by the FMSB represent generally recognised good practice in wholesale Fixed Income Commodity and Currency (FICC) markets. We're committed to conducting our FICC market activities in a manner that's consistent with the relevant Standards and Statements of Good Practice. We have committed to following the FMSB’s Standard on Reference Price Transactions and we also follow the FMSB’s Statements of Good Practice on Surveillance in FX Markets and Conduct Training for FICC Market Personnel.

FMSB Standards Commitment Letter

More information can be found on their website.

UK Money Market Code

We welcome the publication of the UK Money Markets Code. Published by the Bank of England, this provides the standards and best practice expected from participants in the deposit, repo and securities lending markets. It supersedes existing guidance for participants in these markets provided by the NIPs Code, the Gilt Repo Code and the Securities Borrowing and Lending Code.

UK Money Markets Code Letter

Read more about the Bank of England's new code

FX Global Code

We are pleased to commit to the FX Global Code which replaces existing codes present in the FX market and provides a common set of guidelines to promote the integrity and effective functioning of the FX market.  It is intended to promote a robust, fair, liquid, open and appropriately transparent market in which a diverse set of market participants are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour. The Code will be maintained and updated by a new Global Foreign Exchange Committee.

FX Global Code Letter

Read more about the new Global Foreign Exchange Committee's code