In general, Rothschild Asset Management’s employees must respect ethical guidelines published by the AFG (Association Française de Gestion), the French Association of Asset Management. The employees of the company must pay particular attention to clients' interest.
At all times, employees must strive to manage clients’ interest efficiently, with loyalty, neutrality and discretion. They must strive to manage the assets, both collectively and individually, of which they are in charge, with complete independence. In this respect and at all times, choices regarding which stocks to buy or sell and the date of purchase and sale must be conducted only in the clients' best interest.
The Markets in Financial Instruments Directive (“MiFID”) requires targeted firms to implement a procedure dealing with conflicts of interest. Such procedure must cover any circumstances which might create a conflict of interest. Therefore the Rothschild Group has set up a detailed dedicated procedure in order to identify and anticipate cases in which conflicts of interest might arise.
By “conflict of interest” Rothschild & Cie Gestion Group means “any professional situation in which evaluation or decision-making power of an employee, a company or an association can be influenced or affected in its independence or integrity by a third-party personal opinion or lobby”.
The Group relies upon the existence of robust and clear “Chinese Walls” to prevent conflicts of interest arising between separate Business Lines. The "Chinese Wall" procedures ensure that the Bank can conduct its different activities independently from each other, thereby avoiding situations that could lead to a conflict of interest.