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Directorship service for hedge funds is launched

Date: Thursday, October 29, 2009
Author: Emily Perryman, Hedgeweek.com

A service that provides independent directorship to hedge funds and investment funds has been launched in the UK & Ireland.

Independent Fund Director Services provides an experienced and qualified investment professional who can either join the board of hedge funds and investment funds as an independent director or act as an adviser to the board.

The services available include ongoing detailed analysis of portfolio activity, risk measurement and valuation, corporate governance consulting and reviewing the activities of third-party providers such as custodians and administrators.

The business has been established by Kevin Gallacher, formerly managing director of Dublin-based Merrion Investment Managers; Alison Sinclair, an investment analyst and portfolio manager with over 20 years experience at a number of leading UK investment firms; and risk management specialist Colin Morrison, an independent consultant who was previously head of performance and risk at Standard Life Investments and Baring Asset Management.

“Recent high profile failures in the financial system and cases of fraud in the hedge funds industry have focused renewed attention on corporate governance and the role of independent directors,” says Gallacher.

Independent Fund Director Services carries out detailed portfolio analysis to ensure that independent directors on investment fund boards know exactly what their portfolios hold.

The company, which has offices in Edinburgh and Dublin, also provides compliance and marketing consultancy and asset valuation services for fund promoters and managers.