AIMA ISSUES REVISED SOUND PRACTICES RECOMMENDATIONS FOR HEDGE FUND MANAGERS |
Date: Tuesday, May 22, 2007
Author: Press Release
The
Guide - originally published in 2002 - considers various practical aspects of
establishing and managing a Hedge Fund business in
The revised Guide was developed
and overseen by a 30-strong industry working party, with a central
role played by Goldman Sachs Prime Brokerage who both originated and
dedicated significant resources to the project.
The
working party comprised
leading European Hedge Fund and Funds of Hedge Fund Managers, prime brokers,
fund administrators, legal and auditing professionals. The Guide reflects the
practical issues which any well-run business in the hedge fund sector should
strongly consider.
The
Guide covers the following key issues:
§ Creating and
Managing a Hedge Fund Business
§ Investment
Process and Portfolio Risk Management
§ Portfolio
Administration and Operational Controls
§ Raising Capital
and Investor Relations
§ Hedge Fund
Structures and Organisation
“Since
AIMA’s inaugural Sound Practices Guide was published five years ago, the
European hedge fund industry has grown dramatically from US$64 billion to over
$450 billion today. The industry has also evolved in terms of investment
techniques, strategies, financial instruments used and, indeed, the way in which
the industry is regulated.”
“This
updated Guide reflects these significant developments and seeks to provide
guidance on the additional matters which a hedge fund manager should take into
account now.”
Since the ‘Guide to Sound
Practices for European Hedge Fund Managers’ was first published in 2002, it has
been downloaded from the AIMA website over 90,000
times.
The Guide, which can be
downloaded from the AIMA website at www.aima.org/uploads/GuidetoSoundPracticesforEuropeanHFMMay2007.pdf,
forms an integral part of a body of work which AIMA has produced over a number
of years and which, taken together, sets out sound practices for the wider hedge
fund industry to follow.
The other AIMA Guides in this series
are:
- Guide to Sound Practices for
Hedge Fund Valuation (March 2007)
- Guide to Sound Practices for
Hedge Fund Administrators (September 2004)
- Offshore Alternative Fund
Directors’ Guide (June 2005)
- Ends
-
For further
information, please contact:
Eoin
Brophy
Partner
Hume Brophy
Communications
Tel: +44 (0)20
7499 8736
Mob: +353 86 851
5477
Editors Note:
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 47
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