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17 Jun 2008

MFA Submits Comments On Hedge Fund Committees

Hedge Fund representative, the Managed Funds Association (MFA), has submitted comments on the Best Practices Reports released by the two Committees appointed by the U.S. President’s Working Group on Financial Markets (PWG).

The Asset Managers’ Committee Report and the Investors’ Committee Report provide
guidance for establishing best practices standards for the hedge fund industry and its investors.

"MFA has reviewed thoroughly the Asset Managers’ Committee Report and the Investors’ Committee Report, and we are broadly supportive of both sets of recommendations, which are comprehensive and substantive." Richard H. Baker, MFA President and CEO, said.

Andrew Baker, Deputy CEO of the Alternative Investment Management Association
(AIMA) said, "We fully endorse the responses submitted by MFA to both committees... We are committed to the international harmonisation of sound practices for the alternative investment industry and look forward to leading this global approach with MFA as well as with all other industry stakeholders."

MFA represents members of the the global alternative investment industry. Including professionals in hedge funds, funds of funds and managed futures funds. MFA Members represent 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.