AIMA releases Offshore Alternative Fund Director`s Guide

Date: Wednesday, June 1, 2005
Author: AIMA

The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association, today announced the launch of its Offshore Alternative Fund Directors’ Guide. Created by a Working Group of leading industry professionals within AIMA’s global membership, the guide considers the fundamental practical, legal and tax considerations when selecting and appointing Directors of offshore alternative funds. It explains the basic tasks which Fund Directors should carry out and suggests how they should manage their relationships with the Fund’s service providers. The Guide is aimed at:

• Investment Managers and promoters of new offshore alternative funds;
• Individuals who are considering becoming Directors of an offshore alternative fund; and
• The appointed Board of Directors of an offshore alternative fund.

“The Guide contains some detail as to requirements and general advice on several important issues such as the review of annual audited accounts and issues relating to liability insurance”, stated Steven Whittaker, Chair of the Working Group and Member of the AIMA Sound Practices Committee. “It should be noted that the Guide is produced by volunteers who have worked extremely hard and they have our thanks for creating this valuable tool.”

The Guide is being sent at no charge to every AIMA member company in 46 countries as well as to all financial regulators (70 institutions) and institutional investors (over 750 institutions) on its confidential database. The Guide is available to purchase by non-members, at GBP50 per copy, info@aima.org