In testimony before the House Financial Services Subcommittee “Perspectives on Hedge Fund Registration”, the Managed Funds Association (MFA) announced its support for the new push for mandatory registration of managers with the SEC.
"Though hedge funds were not the cause of the ongoing problems in our financial markets and our economy, MFA and our members share the commitment of policy makers to enact measures that will help restore stability to our markets, strengthen financial institutions and restore investor confidence." Richard H. Baker, MFA President and CEO, said, "We believe supporting mandatory registration for investment advisers is just one of the many important steps that can be taken towards these mutually shared goals."
Baker’s testimony stressed that while hedge funds are important to the capital markets and the financial system, the relatively small size and scope of the industry, with approximately $1.5 trillion in assets under management, did not pose significant systemic risk. He also stressed that hedge funds are substantially less leveraged than banks, have outperformed the overall market and have not sought any federal assistance.
“A registration framework that overwhelms the resources, technology and capabilities of regulators will not achieve the intended objective, and will greatly impair the ability of the regulator to fulfill their existing responsibilities, as well as their new responsibilities.
7 May 2009
AIMA Guide to Sound Practices for Funds of Hedge Funds Managers
Global hedge fund association AIMA (The Alternative Investment Management 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. 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.
“AIMA has produced a huge body of work on sound practices and this was the ‘missing book in the library’." Andrew Baker, CEO of AIMA, and a member of the steering group, commented, "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 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. 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.
“AIMA has produced a huge body of work on sound practices and this was the ‘missing book in the library’." Andrew Baker, CEO of AIMA, and a member of the steering group, commented, "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.”
SHINE as 100 Women in Hedge Funds' 2009 Beneficiary
Childrens educational program SHINE has been named UK Charity of the year by 100 Women in Hedge Funds and beneficiary of its Annual London fundraising event in October.
“It is always a difficult process to pick from many eligible beneficiaries, we believe in SHINE and are thrilled to help fund the important support they gives to educational programmes." Effie Datson, Chair of 100 Women in Hedge Funds in London, said, "SHINE is investing in a meaningful and measurable way in the future prosperity of the UK, while bringing hope, happiness, and a sense of achievement to children that might otherwise have been left behind. The work they does is vital - now more than ever.”
"It is not just another educational charity - it funds only those programmes which have a real and measurable impact on improving the educational attainment of those children and young people who face the greatest challenges in life.” Sarah Brown, Patron of SHINE, said.
100 Women in Hedge Funds serves over 10,000 alternative investment management investors and practitioners through educational, professional development and philanthropic initiatives. Since its first educational event in 2002, 100 Women in Hedge Funds has hosted more than 150 sessions globally, connected more than 150 senior women through Peer Advisory Councils and raised in excess of $15 million for philanthropic causes in the areas of women’s health, education and mentoring.
“It is always a difficult process to pick from many eligible beneficiaries, we believe in SHINE and are thrilled to help fund the important support they gives to educational programmes." Effie Datson, Chair of 100 Women in Hedge Funds in London, said, "SHINE is investing in a meaningful and measurable way in the future prosperity of the UK, while bringing hope, happiness, and a sense of achievement to children that might otherwise have been left behind. The work they does is vital - now more than ever.”
"It is not just another educational charity - it funds only those programmes which have a real and measurable impact on improving the educational attainment of those children and young people who face the greatest challenges in life.” Sarah Brown, Patron of SHINE, said.
100 Women in Hedge Funds serves over 10,000 alternative investment management investors and practitioners through educational, professional development and philanthropic initiatives. Since its first educational event in 2002, 100 Women in Hedge Funds has hosted more than 150 sessions globally, connected more than 150 senior women through Peer Advisory Councils and raised in excess of $15 million for philanthropic causes in the areas of women’s health, education and mentoring.
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