AIMA

06 May 2009

The Alternative Investment Management Association (AIMA) – the global hedge fund industry association - has published the world’s first global Guide to Sound Practices for Funds of Hedge Funds Managers.

The guide was developed by some of the world’s leading funds of hedge funds practitioners. It focuses on areas including risk management, due diligence, disclosure to investors, valuation, management of conflicts of interest and other operational issues.

It will be a practical business tool for funds of hedge funds managers and will also seek to provide relevant and insightful information for investors, regulators and policy makers, and the hedge fund industry’s service providers.

The guide was produced by a steering group of leading funds of hedge funds managers.  The group consisted of Unigestion, Financial Risk Management; Man Investments; Fauchier Partners; Pacific Alternative Asset Management; Ivy Asset Management; HDF Finance; Penjing Asset Management and Simmons & Simmons.

Andrew Baker, CEO of AIMA, and a member of the steering group, commented, “AIMA has produced a huge body of work on sound practices and this was the ‘missing book in the library’. It is particularly important given recent events that there should be dedicated guidelines for funds of hedge funds managers. Funds of funds are a critical sector in the industry, are of particular interest to institutional investors, and it is right that AIMA has taken the lead in documenting sound practices. We hope that these guidelines that have been drawn up by such a distinguished and experienced group will be widely observed within the industry.”

The Guide to Sound Practices for Funds of Hedge Funds Managers will expand AIMA’s substantial, international body of work developed over the last 10 years including guidelines on Managers; Valuation; Administration; Governance; Business Continuity; Due Diligence for Managers and Service Providers; Anti-Money Laundering; and Industry Certification (in conjunction with the Chartered Alternative Investment Analyst (CAIA)).

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For media enquiries, please contact Christen Thomson, AIMA Director of Communications, on +44 (0)2078228380; email – cthomson@aima.org

Editors’ Notes:

PDF copies of the guide will be supplied on request to members of the media.

About AIMA
As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has more than 1,100 corporate members worldwide, based in 40 countries.

Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms 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 members’ 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.

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