Hello guys…!
I am having problem regarding the ethical standard 3b Fair dealing. it allows provision of premium services against higher level of fees, now for example there is an over subscribed IPO and this IPO complies with the risk and return objctives of various premium clients and some normal fee paying clients. To whom the fund manager should allocate the shares of this IPO if there are not enough shares to benefit both clients. what i think is to allocate this to the premium clients?? am i right?? and at the same time standard 3b states that different level of service should not disadvantege clients. in this case if the IPO is allocated only to the premium clints the normal fee paying clients are at disadvatge…. how to deal with this situation….???