| Chuks Udo Okonta |
The Pension Fund Operators Association of Nigeria (PenOp) has said it is highly committed to ensuring that pension funds are properly managed for the benefits of workers that have embraced the Contributory Pension Scheme (CPS).
The Executive Secretary PenOp, Ms Susan Oranye disclosed this at the launch of the Assets Managers Code of Professional Conduct by the CFA Institute in Lagos.
She noted that due to the importance PenOp places on investors, the association, partnered Fund Managers Association of Nigeria (FMAN) to co-sponsor the event with the aim of ensuring that assets managers demonstrate their commitments to ethical behaviour and protection of investors rights.
She said: "The CFA Institute in Nigeria is celebrating what it called putting investors first, and to celebrate and highlights the importance we placed on investors, they have launched today May 27, what is called assets managers code of professional conduct.
"What this code, which is focused on assets and investment managers does, is that it aligns the ethical and professional responsibilities of firms, managers that manage assets on behalf of clients. By adopting and enforcing this code of conduct for their organizations, managers demonstrate their own commitments to ethical behaviour and protection of investors rights.
"PenOp co-sponsor this event with Fund Managers Association of Nigeria (FMAN) because there is extremely high focus on how the assets under management in the pension industry are being invested. For us this was timely initiative where we could support the structuring of the system that encourages ethical conduct in investment and assets managers."
She noted that since pension operators manage the funds of 6.4 million contributors by investing the funds, it becomes necessary for them to ensure that the different team spread across the pension industry and the different groups or team and other stakeholders groups that handle and invest these pension funds, adhere to the highest standard of ethical conduct.
She noted that PenOp was delighted in co-sponsor the event with FMAN, due to the role the CFA society of Nigeria plays in issuing code of conduct and trainings.
The Vice Chairman of PenOp, Mrs Titi Lawani, gave the a speech on the Benefits and Importance of the Professional Code of Conduct for assets managers to the pension industry and to the country.
The President of the Society, Shade Odunaya, gave a brake down of what the code of conduct covers and why it is important to all the different stakeholders and investment managers in the financial services industry.
According to her the code of conduct covers things like; loyalty to clients; investment process and actions; trading; risk management, compliance and support; performance and evaluation and disclosure.
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