Evaluating an Investment Model Under the Asset Manager Code

As a senior portfolio manager at Cobalt Investment Management, you are in charge of overseeing a significant client portfolio. Recently, your firm adopted the CFA Institute's Asset Manager Code to enhance its commitment to ethical and professional standards in investment management. Part of your responsibility is to ensure that all team members adhere to the principles outlined in the Code, particularly in the investment process.

In this context, a junior analyst has proposed implementing a proprietary investment model, which he believes could generate alpha for certain large-cap equity investments. However, you have concerns regarding the model's transparency and the robustness of the data inputs.

Discuss how you would assess the proposed investment model while ensuring compliance with the Asset Manager Code's standards regarding the investment process. Highlight the key considerations related to the ethical obligations of the firm, client interests, and the importance of rigorous due diligence in investment decision-making.