Higher standards advocated
The establishment of an AIMR chapter is New Zealand is likely to force fund managers to adopt higher standards.
Thursday, August 24th 2000, 12:00AM
AIMR is an international body that has produced a stringent set of rules covering things like fund performance reporting and ethics.
The establishment of an AIMR chapter in New Zealand is likely to force managers to adopt a higher standard of reporting.
Since 1996 a small group of people have been attempting to establish New Zealand chapter. However, that had failed, until now, due to a number of reasons, including industry politics.
William M Mercer chief executive, and AIMR protagonist, Louis Boulanger says the chapter will be set up as an independent and autonomous subsidiary of the New Zealand Society of Investment Analysts.
"This will enable our chapter to leverage off the existing administrative and communication support structure of the NZSIA and at the same time allow closer co-operation between the two organisations."
He expects that over time the two will merge.
Boulanger says there are 22 AIMR members in New Zealand already, including 16 CFA Charterholders and a further 86 candidates.
Boulanger says two of the key aims of the chapter will be to advocate a high level of ethics and professionalism within the investment community, and to enhance knowledge of financial analysis and investment management.
The chapter also expects to play a role discussing issues with regulators and legislators.
Related story: Fund managers under scrutiny
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