Alternative Investment Management Association Representing the global hedge fund industry
09 October 2008
London, 9 October 2008: In a project which brings together some of the world’s leading hedge fund and financial markets bodies, today marks the launch of the Hedge Fund Matrix - a user-friendly website that offers the first step towards harmonisation between existing sound practice guidelines.
The Alternative Investment Management Association (AIMA), the Hedge Fund Standards Board (HFSB), the International Organization of Securities Commissions (IOSCO), the Managed Funds Association (MFA) and the Asset Managers’ Committee of the US President’s Working Group on Financial Markets (US PWG) have brought together their respective works on hedge fund sound practices for the benefit of the industry and other users.
Many of the core principles in existing sound practice guidelines are similar and now, using the Hedge Fund Matrix, users will be able to compare the various guidelines, side-by-side.
The Matrix includes information on: creating and managing a hedge fund management business; the investment process and portfolio risk management; portfolio administration and operational controls; raising capital and investor relations; and hedge fund structure and organisation.
Freely available to all, the Hedge Fund Matrix provides relevant and insightful information for hedge fund practitioners, investors and the regulatory community, and to all those servicing and providing professional advice to the hedge fund industry.
The Hedge Fund Matrix is located at www.hedgefundmatrix.com
(Copyright © 2008. AIMA - All Rights Reserved)
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For further information, please contact:
Tel: +44 (0)20 7499 8736
Tel: +44 (0)20 7499 8736
1. About the Alternative Investment Management Association (AIMA)
As the representative global hedge fund association, AIMA, the Alternative Investment Management Association, has 1,280 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
2. About the Hedge Fund Standards Board
The Hedge Fund Standards Board has been set up to establish and maintain a set of voluntary best practice standards for hedge fund managers.
These standards aim to strike a balance between the need to reassure investors, financial regulators and policy makers about the integrity of the industry while at the same time allowing fund managers the scope and freedom they need to innovate.
The standards rely on market discipline to ensure compliance/conformity and will be updated over time as the financial system and the definition of best practice evolve.
Hedge fund managers can become signatories to the standards, and conformity is achieved through a comply or explain regime, the foundation of which is disclosure.
For further information, please visit HFSB’s website www.hfsb.org
3. About the International Organization of Securities Commissions (IOSCO)
The International Organization of Securities Commissions (IOSCO) is the international policy forum for securities markets regulators. It is made up of securities regulators from over 100
jurisdictions, representing over 90% of the world's securities markets, and a large number of associate and affiliate members with an interest in the regulation and operation of global securities markets such as self-regulatory organizations, exchanges and trade associations.
IOSCO aims to promote high standards of regulation through the development of common regulatory standards, the provision of mutual assistance in enforcement actions and by assisting the development of emerging markets.
For further information, please visit IOSCO’s website www.iosco.org
4. About the Managed Funds Association (MFA)
MFA is the voice of the global alternative investment industry. Its members are professionals in hedge funds, funds of funds and managed futures funds, as well as industry service providers. Established in 1991, MFA is the primary source of information for policy makers and the media and the leading advocate for sound business practices and industry growth.
MFA members include the vast majority of the largest hedge fund groups in the world who manage a substantial portion of the approximately $2 trillion invested in absolute return strategies. MFA is headquartered in Washington, D.C., with an office in New York.
For further information, please visit MFA’s website www.managedfunds.org
5. About the President's Working Group on Financial Markets
The Asset Managers’ Committee is comprised of representatives from a broad array of asset managers. Its purpose is to facilitate an exchange of information between the alternative asset management community and the agencies comprising the President’s Working Group on Financial Markets (“PWG”).
The Committee will develop best practice guidelines and also subsequently review and reassess, and if necessary revise, those guidelines.
The Committee is chaired by Eric Mindich of Eton Park Capital Management and comprises principals from ten major U.S. hedge fund managers.
For further information, please visit www.amaicmte.org