AIMA produces world’s first global sound practices
guide for FOHF managers
6 May 2009
Written by Sophie Baker
The Alternative Investment Management Association (AIMA)
has published the world’s first global Guide to Sound Practices
for Funds of Hedge Funds Managers, developed by some of the world’s
leading fund of hedge funds (FOHF) practitioners.
The global hedge fund industry association’s guide focuses on areas
such as risk management, due diligence, disclosure to investors, valuation,
management of conflicts of interest and other operational issues.
AIMA hopes that the guide will act as a practical business tool for FOHF
managers, and will provide relevant and insightful information for investors,
regulators and policy makers, as well as for the hedge fund industry’s
service providers.
The production group for the guide 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’,” commented Andrew Baker,
CEO of AIMA. “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.”
