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Further Transparency for Hedge Funds


Date: Wednesday, March 21, 2007
Author: AIMA

 London 20th March 2007. The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association has issued a new Guide to Sound Practices for Hedge Fund Valuation.

The Guide builds on the ground-breaking research on asset pricing released by AIMA in 2005. The Guide provides 15 Recommendations on sound practices for hedge fund governance, transparency, processes and methodology, as they relate to the valuation of hedge fund portfolios. It includes further discussion and information around each Recommendation to enhance knowledge of the readers.

While recognising that a “one size fits all” approach is not appropriate for hedge funds, the Guide seeks to provide practical direction with working examples for each Recommendation. One of the Guide’s major initiatives is a template for a hedge fund Valuation Policy Document.

Commenting on the new Guide, Emma Mugridge, Director of AIMA said, “The hedge fund industry is committed to increasing transparency of its activities. This Guide will enable investors, regulators, governmental agencies and fund trustees/directors to deepen their knowledge of hedge fund valuation and to adopt the sound practice Recommendations, where appropriate. This Guide is yet another indicator of the importance the hedge fund industry attaches to principles-based good governance”.

The 72 page Guide is the work of a committee representing a wide range of industry practitioners. It is designed for use by the global hedge fund industry and those involved in its activities. It is expected that there will be keen interest from hedge fund managers. Many of them have already worked with other stakeholders to establish valuation practices, which they can now benchmark against AIMA’s Recommendations.

About AIMA
As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has over 1,100 corporate members worldwide, based in 46 countries.
Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.
AIMA is a dynamic organisation that reflects its membership’s interests and provides them with a vibrant global network.
AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website www.aima.org

For further information, please contact Gordon McAra, AIMA, gmcara@aima.org or tel +44 (0)20 7659 9919 or Eoin Brophy, Hume Brophy Communications on +44 (0)20 7499 8736.