“With influence comes responsibility”, said Paul Marshall, co-founder, Marshall Wace Asset Management, in an article published in The Hedge Fund Journal last year. Marshall and thirteen other well-established managers took this idea and ran with it. They set up the Hedge Fund Working Group (HFWG) under the Chairmanship of Sir Andrew Large. Their remit was to review standards within the hedge fund industry with the aim of creating a benchmark of best practice and of promoting self-regulation: hedge fund managers would be encouraged to ‘comply or explain’. Following a consultation process the HFWG published a report outlining 28 principles-based standards for best practice (‘the Standards’) and in February 2008 the Hedge Fund Standards Board (HFSB) was established as custodian of the Standards. The Standards cover five key areas: disclosure, valuation, risk management, fund governance and shareholder conduct. Now chaired by Antonio Borges, the HFSB is looking to encourage hedge funds to sign up to those Standards.
The article is on :
http://www.thehedgefundjournal.com/research/kpmg-best-practice-survey/index.php
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment