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Alternative Market Briefing

Investors want better governance, not new regulations from hedge funds

Thursday, October 24, 2013

Komfie Manalo, Opalesque Asia:

Investors are demanding better governance and codes of conduct from hedge fund and other alternative fund managers rather than new regulations, a new study by independent fund governance provider Carne Group has found.

In the survey, Aico.com reported that 95% of investors prefer industry wide codes of conduct from pension funds, consultants, fund of funds, private banks, and sovereign wealth funds. A significant 83% are demanding independent directors from the funds’ boards while 62% of those polled want the chairman of the board to be independent as well.

Aico.com quoted the report as saying, "Fund governance has continued to grow in importance since the 2008 financial crisis. While for some investors it has always been an issue, the bulk of asset allocators are now much more focussed on the issue. One of the contributors to the survey described it as 'an undiversifiable risk factor’. "Increased volatility in the markets and enhanced complexity of governance as a legal and regulatory issue are also important factors causing institutional investors and consultants to focus more attention on governance."

The survey also found that a wide majority of investors do not trust their fund managers to manage conflicts of interest at lon......................

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