Endowments Code of Conduct

Demonstrate your commitment to best practices

Overview

The Investment Management Code of Conduct for Endowments, Foundations, and Charitable Organizations outlines ethical responsibilities for the sound management of longer-term financial assets. By adopting the Code, you are establishing an ethical framework for governing body members and showing your commitment to the best interests of stakeholders and beneficiaries.

View the Endowment Code of Conduct Fact Sheet (PDF)

Who Should Adopt?

Organizations that manage long-term financial resources to support grant commitments or the operations of:

Charitable trusts
Endowments
Independent foundations
Non-governmental organizations
Philanthropies
Public funds

What is Covered?

The Code contains specific investment management-related standards for each principle, supplemented by best practice guidance and examples. The Code's principles can be applied to areas of the organization beyond the management of the financial assets.

Act with loyalty and proper purpose
Act with skill, competence, prudence, and reasonable care
Abide by all laws, rules, regulations, and founding documents
Show respect for all stakeholders
Review investment strategy and practices regularly

How Can I Comply?

Complying with our Code is voluntary. We believe that effective self-regulation goes beyond the minimum requirements of the law. It is the most effective and efficient form of market regulation.

Acknowledge your compliance with the Endowments Code (PDF)

How Was the Code Developed for a Global Audience?

CFA Institute reached out to the global endowment, foundation, and charitable communities for volunteers to help develop the Code. Individuals from the following organizations were instrumental throughout the development process.