IPE International Publishers Limited

IPE and IPE Real Assets Editorial Code

This Editorial Code is intended for all those for and about whom IPE and IPE Real Assets produce journalistic content in written or other formats. It details the publications’ working methods, rules of engagement, principles and core values. 

About IPE and IPE Real Assets

1. Mission and purpose 

IPE and IPE Real Assets provide news, information and data relevant to their audiences. The primary focus is institutional investors.    

1.2 Independence and objectives 

The publications’ editorial staff consists of professional journalists who act with integrity and independence. Editorial staff operate free from interference by management or their proprietor in relation to the content they publish. Advertisers’ or explicitly commercial interests play no role in editorial considerations. The publications’ independence is set out in the editorial statute of FD Business, the professional media division of FD Mediagroep (FDMG). 

The publications strive for accurate, objective and balanced reporting that is relevant to readers, which is impartial, transparent and fair, and which adheres to the Editors’ Code of Conduct of the UK Independent Press Standards Organisation (IPSO). 

The publications remain impartial and do not assume or represent the interests of specific parties, corporate bodies, representative groups or governments. The publications are independent of any political or religious movement. Fact and opinion/commentary are clearly distinguished. 

1.3. IPE, IPE Real Assets and their parent group 

IPE and IPE Real Assets are owned by IPE International Publishers Ltd (“IPEILP”) which is part of FD Business, whose parent FD Mediagroep (“FDMG”) is owned by HAL Investments BV (“HAL”), which is listed on the Amsterdam Stock Exchange. 

Further references to IPE in this document should be taken to refer to both IPE and IPE Real Assets. 

Other companies within FDMG include: Het Financieele Dagblad, BNR, and Company.info. Aside from IPE and IPE Real Assets, FD Business’ portfolio includes Pensioen Pro, Impact Investor, PropertyNL and Energeia (more information can be found here). Any mention of FDMG or HAL in IPE and IPE Real Assets will include details on the relationship with IPE. 

FD Business publications including IPE and IPE Real Assets each have their own editorial team and share an editorial statute, separate from the editorial statute of Het Financieele Dagblad. IPE and IPE Real Assets editorial staff may collaborate and share information with other group publications, where appropriate.  

1.4. Partner content 

FD Business offers additional products and services, including under the auspices of IPE and IPE Real Assets. These include, but are not limited to, advertorials within the publications, as well as IPE Quest (supporting institutional investors in their asset manager selection process), the IPE and IPE Real Assets Reference Hub, which publishes partner content, and IPE and IPE Real Assets Partner Webinars.  

The IPE editorial staff have no involvement whatsoever in the production or creation of any content by or through these additional products or services, in whatever form. They offer no endorsement either of content or of services that IPEIPL or FD Business may offer. Any such content will be clearly labelled so as to make it clear to the user that it is not editorial content and is the responsibility of a third party. 

Acceptance of such third-party content is in all cases conditional that it does not violate the publications’ broad disclaimers, which state that no content published in any form shall be construed as offering investment advice.  

IPE’s Editorial Director will report any instance in which such content may conflict with either IPE Editorial Charter or this document.  

1.5. Events  

IPE produces events, including conferences and seminars. Where events include paid-for presentations or interventions by sponsors it shall be clear from the context and the agenda that they are not editorially objective. The brand names and identities of sponsors and their representatives will be clearly stated on all written material relating to events. 

IPE editorial staff may in some capacity be involved in the production of editorial content for such events, and may act as presenters or moderators, or in other related capacities, so long as this does not compromise their independence and professional integrity, or the independence and integrity of the publications. Where the format of an event requires editorial staff to introduce or discuss partner or sponsor content, they will in no way endorse it.   

IPE also produces awards for institutional investors. The recipients of such awards are decided by means of a transparent process involving independent judges. Where individual awards or ceremonies are sponsored, such parties will have no influence whatsoever on either nominations or the selections of winners.  

2. Journalistic conduct  

The provision of reliable and objective information is integral to our mission and purpose. We adhere strictly to all relevant laws, regulations and internal guidelines. This Code of Conduct is a reflection of our shared standards and values and aims to provide clarity on the behaviour we aspire to, both internally and externally. 

2.1. Conduct 

IPE’s editorial teams will be courteous and scrupulously fair to all relevant parties.  

2.2. Conflict of interest  

Integrity is central to good journalism. It is essential for our independence and dependability. 

Gifts: IPE editorial staff in principle will not accept gifts of any kind, other than that they are worth less than £25 in value. 

Hospitality: IPE journalists may be expected to attend meetings or events hosted by external parties, which may include commercial clients or advertisers of IPEIPL or FD Business, and where they serve a relevant editorial purpose. However, journalists should at all times avoid the impression that editorial coverage can be influenced by inducements or other means. 

Editorial staff may accept other forms of hospitality to a reasonable level where there is a clear journalistic purpose, such as working lunches. Gifts may not exceed the value of £25. 

Secondary activities and functions: IPE staff may not perform paid work for third parties. An exception can only be made after consultation with, and permission from the Editorial Director and/or FDMG compliance officer. 

Travel and accommodation: Editorial staff will not generally accept paid travel or accommodation unless the staff member plays a relevant, independent and public role in an event, such as chairing a panel discussion at a conference, or if it would be otherwise impossible to attend the event. 

2.3. Commercial and editorial interests  

IPE’s commercial and editorial departments are strictly separate. They will not collude on matters of editorial content, or on other matters, including whether, where or when an article will be published. 

Printed and online advertisements and advertorials will always be recognisable as such and clearly distinguishable from editorial content in form and design. The term “sponsored commentary”, or similar will appear above advertorial content. 

2.4. Complaints  

Mistakes will be duly corrected, by amending the article in question on the website. Changes that involve more than the simple correction of typographic mistake will include an explanation at the bottom of the article. 

Errors or complaints should be reported to the publications, either directly to the writer in question in the first instance or to a senior staff member. 

Unresolved matters should be brought to the attention of the publication’s Managing Editor or Editor-in-Chief, and to the Editorial Director in the final instance. Contacts details are available on our website  mailto:richard.lowe@ipe.com  

If the Editorial Director rejects a complaint, proceedings may be taken up with the UK Independent Press Standards Organisation.  

2.5. Plagiarism  

IPE does not tolerate plagiarism, meaning editorial staff and contributors must not knowingly copy the work of others and present it as their own. Good source references are essential for the reliability and credibility of articles, even if material used is not (or is no longer) encumbered by copyright. 

2.6. Political activities  

IPE’s editorial staff may become members of a political party but may not play an active role in that party, for instance by seeking election to public office. Conflicts of interest and the appearance of such must be avoided at all times. 

2.7. Social media  

IPE uses social media to share its articles, including through official accounts. Editorial staff are encouraged but not obliged to use social media for professional purposes. They remain associated with IPE even when they use social media privately. Staff must ensure that any social media use does not lead to reputational damage for IPE, its parent company or affiliated organisations. 

2.8. Financial interests  

Integrity and objectivity form the basis of IPE’s reputation. To guarantee this, our products and services must be free from conflicts of interest or the appearance of such.  

IPE editorial staff members may have access to non-public information. 

Personal investments, commercial activities and interests may not influence IPE content in any way. Even the appearance of such influence must be avoided as it can damage the integrity and objectivity of IPE’s editorial content. IPE editorial staff therefore have limited options in which to buy and sell securities in order to prevent conflicts of interest or the appearance of such. 

These rules apply to all members of the IPE editorial team. Circumventing the rules via third parties (family, friends, acquaintances) is not permitted. 

For the purposes of this restriction, the term “securities” encompasses all tradable securities on public stock exchanges, including derivative instruments such as options, warrants, futures, etc, with the exception of government bonds, mutual funds and ETFs. 

Editorial staff must comply with UK legislation and regulations governing securities trading in full. This includes, but is not limited to, the Criminal Justice Act 1993 (which prohibits insider dealing), the Financial Services and Markets Act 2000, and the UK Market Abuse Regulation. Journalists must not use or disclose confidential, non-public or price-sensitive information for personal gain or in any way that could constitute insider dealing or market abuse. 

2.10. Freelance staff  

IPE applies the same journalistic rules and principles to freelancers as to permanent staff members, although by the nature of their background and current position some freelancers may assume a wider range of external positions, advisory roles, directorships and the like. These will be disclosed in advance to senior editorial staff members and relevant external positions will be clearly stated alongside published articles, where appropriate. 

3. Working methods  

IPE journalists act transparently at all times and must identify their position when going about their work. There must be no misunderstanding about the fact that questions are journalistic in nature and that replies are subject to publication. 

The spoken word stands in all cases and on-the-record conversations and interviews are generally preferred. Journalistic subjects should make clear when a conversation or interview is intended to be on or off the record, and it is up to the editorial staff member whether or not to agree and therefore to continue the conversation or interview. 

Editorial staff are responsible for ensuring that written notes are retained for as long as they could be required in legal proceedings. The Company will facilitate storage and retrieval.  

The position and potential vulnerability of journalistic subjects will always be taken into account. 

3.1. Right of reply 

Right of reply is a fundamental journalistic principle and is applied in particular in cases of allegations or suspicion of wrongdoing against a person or organisation. 

Providing a right of reply does not of course relinquish IPE from its obligation to check claims made by sources for their factual accuracy and plausibility by means of further investigation. 

The right of reply should take place in a timely manner, but as soon as reasonably possible. 

IPE is responsible for its own publications and designated editorial staff determine what will or will not be published, but will present the essence of any rebuttal even handedly. 

3.2. Copy approval 

IPE will not be required to seek permission to publish an article or interview and does not entertain advance requests for copy approval. Editorial staff independently determine publication date, time and placement. There is therefore no question of “authorisation”.   

IPE journalists may, upon reasonable request, grant relevant interviewees or others advance sight of copy solely for the purposes of fact checking. Advance sight may be restricted to the relevant part of the text.  

If an interviewee does not respond within a reasonable period, editorial staff may decide to publish the article without a response. No opportunity will be afforded to listen to podcast recordings in advance. 

3.3. Sources  

It must be made clear to readers who or what the sources are in an article. IPE never pays sources and will keep the identities of sources confidential if required. Editorial staff will not abuse their position for the benefit either of themselves or others. 

Anonymous sources will only be used where there are no alternative means to obtain the relevant information. However, their identities must be revealed to relevant senior editorial staff. Journalists must take all reasonable steps to identify any conflicting interests when using such sources. Multiple sources are preferred (usually three) in contentious cases. 

Anonymous sources will be described as precisely as possible whilst not compromising their identity. Appropriate caution will be taken in cases where anonymous sources volunteer negative or derogatory views towards other persons, companies, or organisations. We will only use such opinions in context, and/or if the information can be otherwise independently verified. 

3.4. Images   

IPE uses images directly commissioned from illustrators, photographers, press agencies, media libraries, in addition to material made available by journalistic subjects, including companies or organisations mentioned or quoted in articles. Third parties must make clear in writing that images sent ‘on spec’ with press releases are free for publication. 

Individuals photographed for a specific story will be deemed to have given permission for this in that the purpose and nature of the photography will have been made clear in advance. IPE editorial staff must seek permission in advance if they wish to take their own photographs at third-party meetings and events. 

IPE will always credit artists or photographers (including press agencies, media libraries and others). It will be clearly stated if photography or other illustrations have been edited by editorial staff or by the creators. 

If non-current (archive) photography is used within an article it will mention when the photo was taken, if this is relevant. 

3.5. Artificial intelligence  

IPE and its parent FDMG make use of artificial intelligence (AI), for instance for purposes of general research, text or data analysis, textual summary, editing and the like. We apply three general rules: 

Oversight: no publication of AI-generated content without human involvement and supervision. 

Transparency: IPE editorial staff must be transparent about their use of AI with those to whom they report internally. Publications likewise will be transparent with readers. 

Security: privacy and security remain paramount when using AI products and services. 

3.6. Audio and video recording  

Journalists may record conversations during in-person, telephone, audio or video calls for the purposes of accurate note taking and to check verbatim quotes prior to publication. Recordings may also be used as evidence in legal procedings. Journalistic subjects are also free to record conversations. 

3.7. Acting undercover  

IPE editorial staff will not operate undercover unless specifically authorised by the Editorial Director. 

3.8. Criminal proceedings  

IPE adheres to the relevant national or other jurisdictional legislation, court orders, regulations and conventions when naming suspects in criminal trials. 

3.9. Opinion 

IPE offers a platform for contributions from external parties in the form of opinion or “op-ed” articles, and as regular columnists. Columnists and op-ed writers are free to express their opinions but must base these on facts, and must not refer to anonymous sources.  

They need not adhere to rules regarding objectivity and of right to reply. Such articles will be clearly labelled and demarcated from objective reporting and writing.  

Where a corporate affiliation is stated in the column, it will be assumed that the writer represents that interest, although it may be stated on request that a writer is expressing their own opinion.  

Writers may not write about or otherwise promote their own personal business interests, or about entities in which they are personally interested, other than in exceptional cases agreed with a senior editorial staff member. 

3.11. Embargos 

Publications like IPE frequently receive news and information under embargo which specifies a publication time determined by the source. Embargos will only be observed if the source has indicated the embargo in advance and if IPE has agreed and may not be imposed ex-post.  

IPE will not be obliged to observe an embargo if another media outlet breaks it. 

3.12. Contracts 

IPE will not sign contracts or enter into agreements that impose restrictions on its freedom to publish information.  

3.13. Taking down 

IPE occasionally receives requests from individuals to remove or take down an article in which they appear from the internet. Senior editors will only respond to this type of request in very exceptional cases. A good, reliable and complete archive of a press publication, such as IPE, serves the general interest. 

July 2026