A CIMA professional manages both a charitable foundation and private client accounts with similar investment mandates. Shares of an undersubscribed IPO become available. What is the ethical approach to allocation?
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A
Allocate all shares to the private clients since they pay higher fees
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B
Allocate shares proportionally based on each account's investment guidelines
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C
Allocate shares to the foundation first to maximize its tax benefit
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D
Avoid allocating IPO shares to either account to prevent conflicts