AIMA

The Alternative Investment Management Association

Alternative Investment Management Association Representing the global hedge fund industry

AIMA Investor Steering Committee to Publish First Global Collaborative Guide for Investors

31 January 2008

London, 31 January 2008: The Alternative Investment Management Association (“AIMA”) has announced that its Investor Steering Committee (“ISC”) is to publish the world’s first collaborative educational guide for hedge fund investors.

The guide, which is being developed in association with the Chartered Alternative Investment Analyst Association (CAIAA) will be authored by UBS’s Alexander Ineichen, supported by Kurt Silberstein of the California Public Employees’ Retirement Systems (“CalPERS”). It is the first global effort between investors and the hedge fund industry, and will provide access to meaningful and practical information on the nature and activities of the hedge fund industry – including information on hedge fund strategies, performance data, investment processes, and industry and business dynamics.

The AIMA ISC’s global initiative will focus on intermediate level investors such as Fiduciaries, Investment Consultants and Trustees, and has been designed to complement the US President’s Working Group (PWG) Investor Committee’s series of best practices for basic level investors which is due to be published in February 2008.

The AIMA ISC was formed in July 2007 and comprises a number of the world’s leading institutional and other investors with the objective of providing strategic and practical guidance on hedge fund industry activities to the investor community.

Alexander Ineichen, Senior Investment Officer at UBS Asset Management said: “The transformation of the asset management industry from a focus on relative returns towards the absolute return investment philosophy embraced by hedge funds is arguably a big deal. Despite the institutionalization of the hedge fund industry being in full swing for many years, there is still misconception and myth among some institutional investors and their boards, trustees and consultants. This report will be designed to clarify what hedge funds really are and, more importantly, are not.”

Emma Mugridge, Director of AIMA commented: “We have long acknowledged that investors are a vital part of the hedge fund industry. This is the first time that they have had such a meaningful educational role to play and, importantly, the initiative also meets the Financial Stability Forum’s Highly-Leveraged Report (2007) recommendation that industry and investors work more closely to develop positive initiatives.”

It is also significant that a number of the world’s leading investors will be involved in developing this guide. The ISC has moved at an emphatic speed since it was created in July and the initiative clearly demonstrates that AIMA and the investor community are working closely in tandem.”

AIMA ISC members include Paul Spijkers CEO of ABP Investments US Inc; Jan Straatman CIO of Axial Investment Management; Kurt Silberstein, Portfolio Manager at CalPERS; Eric Breval,  Managing Director of Fonds de Compensation AVS; Mark Taborsky, VP at Harvard Management Company; François-Serge Lhabitant, CIO of Kedge Capital; Vera Kupper Staub – CIO of Pensionskasse Stadt Zürich; Alexander Ineichen - Senior Investment Officer, UBS Global Asset Management; Gumersindo OIiveros - Director of Pension Plan and Endowments for The World Bank Pension Plan, and John Stevens - Managing Director, General Motors Asset Management.

Russell Read of the US President’s Working Group welcomed the AIMA ISC initiative commenting: “This initiative from AIMA’s Investor Steering Committee complements the work we are undertaking on behalf of investors and fiduciaries in the US. Nonetheless, it is clear that both initiatives will only be truly worthwhile if they are accepted by, and in turn become commonplace within, the investor community at-large.”

AIMA’s ISC project will complement AIMA’s Sound Practices for the Global Hedge Fund Industry – a substantial body of work developed by AIMA over the last 10 years and including  guidelines on Managers; Valuation; Administration; Governance; Business Continuity; Due Diligence for Managers, Prime Brokers and Administrators; Anti-Money Laundering; and Industry Certification (in conjunction with the Chartered Alternative Investment Analyst (CAIA) Association.

The Guide is expected to be published in the second quarter of 2008.

- Ends -

For further information, please contact Eoin Brophy or Evan DeBarra, Hume Brophy Communications on +44 (0)20 7499 8736.


Editors’ Notes

1. About AIMA

As the only truly 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 CAIAA

The Chartered Alternative Investment Analyst Association® is an independent, not-for-profit global organization committed to education and professionalism in the field of alternative investments. Founded in 2002 by the Alternative Investment Management Association (AIMA) and Center for International Securities and Derivatives Markets (CISDM), the CAIA Association is the sponsoring body for the CAIA designation.  Recognized globally, the CAIA designation certifies one’s mastery of the concepts, tools and practices essential for understanding alternative investments and promotes adherence to high standards of professional conduct.
 

 
 
Back to Listing

Main Menu

  1. Home
  2. About
    1. Our Core Objectives
    2. AIMA's Policy Principles
    3. Meet the team
    4. AIMA Council
    5. Global Network
    6. Sponsoring Members
    7. Global Partners
    8. FAQs
    9. Opportunities at AIMA
  3. Join AIMA
    1. Benefits of Membership
    2. Membership Fees
    3. Application form
  4. Members
    1. AIMA Annual Reports
    2. AIMA Governance
    3. AIMA Logo
      1. Policy note
    4. AIMA Members' List
    5. AIMA Review of the Year
    6. Committees and Working Groups
    7. Weekly News
    8. Update Profile
  5. Investors
    1. AIMA Investor Services
    2. AIMA Members' List
    3. Investor Steering Committee
    4. Update Profile
  6. Regulation
    1. AIMA's Policy Principles
    2. Asset Management Regulation
      1. EU Asset Management Regulation
        1. AIFMD
        2. European Capital Markets Regulation
        3. MiFID / MiFIR
        4. UCITS
          1. ETFs and Structured UCITS
        5. Venture Capital
        6. Shareholder Rights Directive
      2. US Hedge Fund Adviser Regulations
        1. Registration and Reporting
        2. Incentive-Based Compensation
        3. JOBS Act
      3. Asia Pacific Asset Management regulation
      4. Other Jurisdictions’ Asset Management Regulation
      5. Regulation of NBFCs / SIFIS
      6. Supervision
        1. UK regulatory reform
        2. European Supervisory Authorities
        3. US Self-Regulatory Organisations
      7. Remuneration
        1. UK
        2. US
        3. CRD IV and CRR
        4. AIFMD
        5. MiFID
      8. Shadow Banking
      9. Volcker Rule
      10. Other
    3. Markets Regulation
      1. Bank/Capital Regulation
        1. Capital Requirements Directive
        2. EU Bank Structural Reforms
      2. Derivatives/Clearing
        1. EMIR
        2. MiFID / MiFIR
        3. MAD / MAR
        4. Dodd-Frank Act Title VII
        5. Hong Kong
        6. IOSCO
        7. Singapore
      3. High Frequency Trading
        1. ESMA Guidelines
        2. MiFID / MiFIR
        3. MAD / MAR
        4. Flash Crash
        5. IOSCO
        6. Germany
        7. CFTC Automated Trading
      4. Insurance Regulation
        1. Solvency II
      5. Market Abuse
        1. MAD / MAR
        2. Indices as Benchmarks
      6. Position Limits
        1. MiFID / MiFIR
        2. CFTC Position Limits
      7. Resolution of Financial Institutions
        1. Europe
          1. EU Bank Recovery and Resolution Directive
          2. EU Non-Bank Recovery and Resolution
        2. CPSS-IOSCO
        3. Financial Stability Board
        4. UK
        5. USA
      8. Short Selling
        1. EU Short Selling Regulation
        2. Hong Kong Short Selling Regulation
        3. US Short Selling Regulation
        4. Short Selling Bans
      9. Securities Settlement
      10. Shadow Banking
        1. International Shadow Banking
        2. EU Shadow Banking
      11. Trading
        1. MiFID / MiFIR
        2. Dodd-Frank Act
    4. Tax Affairs
      1. EU Savings Directive
      2. FAIFs and FINROFs
      3. FATCA
      4. FIN 48 and IAS 12
      5. Financial Transaction Tax
      6. Investment Manager Exemption
      7. UK Offshore Funds Regime
      8. Other
    5. Search
    6. Resources
      1. Guidance Notes
      2. Jurisdictional Guides
      3. Noticeboard
        1. BEPS
        2. Dealing Commission
        3. Derivatives
        4. FATCA
        5. FTT
        6. High Frequency Trading
        7. MiFID / MiFIR
        8. Other Hot Asset Management Topics
        9. Other Hot Markets Topics
        10. Position Limits
        11. Trading
        12. UK Partnership Tax Review
        13. Volcker Rule
      4. Hedge Fund Manager Training
      5. Quarterly Regulatory Update
      6. Webinar Programme
      7. Regulatory Compliance Association
        1. About the Regulatory Compliance Association
        2. RCA Curricula and initiatives for alternative investment firms
        3. Meet the regulators and Sr. Fellows
  7. Education
    1. AIMA Journal
      1. Recent issues
      2. Search AIMA Journal articles
      3. AIMA Journal Archive
    2. The Extra Mile: Partnerships between Hedge Funds and Investors
    3. 'Apples and apples' - How to better understand hedge fund performance
    4. AIMA/KPMG reports on state of global hedge fund industry
    5. Roadmap to Hedge Funds
    6. ‘Capital Markets and Economic Growth – Long-Term Trends and Policy Challenges'
    7. Guides for institutional investment
    8. Industry-standard DDQs
    9. Sound Practices
    10. Industry Guides
    11. CAIA
      1. FAI
    12. Services to Start-up Managers
    13. Useful Websites
    14. 'The Alternative Answer'
    15. Glossary
    16. AIMA's Investor Steering Committee Paper
  8. Events
    1. AIMA Events
    2. AIMA webinars
    3. Industry events
  9. Media
    1. Press Releases & Statements
    2. AIMA's blog
    3. Media Coverage
      1. Articles by AIMA
        1. Archive
      2. AIMA in the news
      3. Video interviews
      4. Industry news
    4. Media Contacts
    5. Press Materials