What is a goal of the asset manager code?

The goal of the asset manager code primarily revolves around establishing principles and norms that promote ethical practices within the asset management industry. By focusing on the disclosure of key elements of services to clients, the code aims to ensure transparency, fairness, and accountability in the relationship between asset managers and their clients. This transparency is crucial for building trust, enabling clients to make informed decisions regarding their investments.

Disclosing key services helps clients understand what to expect from their asset managers, including investment strategies, risks involved, fees, and the overall approach to managing portfolios. This practice not only aligns with ethical standards but also reinforces fiduciary responsibilities, ensuring that asset managers act in the best interests of their clients.

In contrast, the other options do not encompass the principles embodied by the asset manager code. For instance, maximizing profits at all costs may lead to unethical practices compromising client interests. Similarly, developing competitive strategies or reducing operational costs, while important for business efficiency and market position, do not specifically reflect the focus on client service and fiduciary duty that the asset manager code emphasizes.