AIMA Australia is looking to introduce a Code of Conduct for its members – mainly hedge funds and other alternatives managers – at first covering the issue of diversity, the lack of which is a common problem throughout the financial services industry.
Flagging a dialogue with members about diversity and a local Code of Conduct this year in his first annual letter, Alistair Rew, the new chair of AIMA Australia, said the association would set its commitment to and focus on diversity along with key plans for its enhancements.
“We will be looking to establish a voluntary code of conduct, or principles, to set out standards that managers can sign up to across our local industry and will be working with members on this,” he said last month. Rew, the head of alpha strategies at AMP Capital, succeeded former chair Paul Chadwick, co-founder of Nanuk Asset Management, in September after Chadwick was promoted to the AIMA global board.
Michael Gallagher, AIMA Australia general manager and director, said last week: “The Code of Conduct will initially refer to diversity and then may be expanded. AIMA has already signed on to a diversity code in the UK, but here in Australia we are still trying to ascertain what code will be best or if, indeed, we develop our own. In the interim we are going to be putting in measures to increase our diversity on our committees, sub-committees and speakers at events.”
In his members’ letter, Rew also said planning was well underway for a fantastic education program, expanded and enhanced communications with members along with consolidating all the investor and university programs.
“We will also be looking to add a number of new events, including one focused on new and emerging managers, for both members and non-members, looking into a number of specific topics and guidance for new and emerging managers to the industry. Our successful roundtable events will continue and we are open to adding new topics and events driven by member interests.”
Meanwhile, outside Australia, AIMA had been successful across the APAC region over the past 12 months, introducing an Alternative Credit Council for the region following the launch of a global one in 2017. AIMA globally has about 1,900 corporate members representing about US$2 trillion of assets under management.
Rew reminded members to “save the date” for this year’s AIMA Forum, to be held in Sydney on September 11. He also suggested members might like to attend the APAC Forum to be held in Hong Kong on March 7.