Loyalty to Clients in Asset Management Decisions

As an asset manager, it is essential to maintain loyalty to clients while managing their investments in a manner that reflects their best interests. Consider the following scenario:

ABC Asset Management is evaluating two potential investment opportunities: a new technology startup and a well-established utility company. The manager believes in the potential growth of the technology startup, but the utility company offers a more stable return and aligns with the risk tolerance of ABC's clients, who are primarily risk-averse retirees.

Using the Asset Manager Code's principle of loyalty to clients, discuss how the asset manager should approach this decision. What considerations should be taken into account, and how can the manager ensure that client interests are prioritized?